Iceland’s government topples amid financial mess

That's the Icelandic Parlament in the Background

I expect the world financial crisis will result in civil unrest in many countries this year. Rising prices due to falling currencies and unrestrained money supply growth results in depravation and unhappy citizens. If you think it can't happen in the U.S., you are wrong.-Lou

Iceland’s government topples amid financial mess

The Associated Press
Mon, Jan 26, 2009

Iceland's coalition government collapsed Monday, leaving the island nation in political turmoil amid a financial crisis that has pummeled its economy and required an international bailout.

Iceland has been mired in crisis since the collapse of the country's banks under the weight of debts amassed during years of rapid expansion. Inflation and unemployment have soared, and the krona currency has plummeted.

Haarde's government has nationalized banks and negotiated about $10 billion in loans from the IMF and individual countries. In addition, Iceland faces a bill likely to run to billions of dollars to repay thousands of Europeans who held accounts with subsidiaries of collapsed Icelandic banks.

Read Article Here:
http://www.lasvegassun.com/news/2009/jan/26/icelands-government-topples-amid-financial-mess/