IMPORTANT MESSAGE:If you're considering bankruptcy you need a legal professional. The law allows for bankruptcy as the quickest means to better overall economic health - not just for you but for the economy as a whole.Bankruptcy can prevent the following:
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Visit: MeTee.com Support this Youtube channel and Design and Publish a T-Shirt using the link above. This channel is brought to you by MeTee T-Shirts: The place for On-Demand t-shirts. ? Monday July 25 2011 11:29 am www.cnn.com The 2008?2011 Icelandic financial crisis is a major ongoing economic and political crisis in Iceland that involves the collapse of all three of the country?s major commercial banks following their difficulties in refinancing their short-term debt and a run on deposits in the United Kingdom. Relative to the size of its economy, Iceland?s banking collapse is the largest suffered by any country in economic history. In late September 2008, it was announced that the Glitnir bank would be nationalised. The following week, control of Landsbanki and Glitnir was handed over to receivers appointed by the Financial Supervisory Authority (FME). Soon after that, the same organisation placed Iceland?s largest bank, Kaupthing, into receivership as well. Commenting on the need for emergency measures, Prime Minister Geir Haarde said on 6 October, ?There a very real danger . . . that the Icelandic economy, in the worst case, could be sucked with the banks into the whirlpool and the result could have been national bankruptcy.? He also stated that the actions taken by the government had ensured that the Icelandic state would not actually go bankrupt. At the end of the second quarter 2008, Iceland?s external debt was 9. 553 trillion Icelandic kr?nur (?50 billion ? Video Rating: 0 / 5
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