Monday, 6 October 2008

Iceland is melting

Never mind run on the banks... it sounds like people are starting a run on the supermarkets:

The party's over for Iceland, the island that tried to buy the world

On Friday the queues at the banks were huge, as people moved savings into the most secure accounts. Yesterday people were buying up supplies of olive oil and pasta after a supermarket spokesman announced on Friday night that they had no means of paying the foreign currency advances needed to import more foodstuffs.

Bankrupt banks.... and now bankrupt nations - where will it end?

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