Tagged: Iceland

During the boom, an Icelandic bank called Landsbanki grew into a giant, largely by paying high interest rates to people from the Netherlands and the UK who opened online savings accounts at the bank.

When the crisis hit, the bank failed. The Icelandic government bailed out the bank's Icelandic customers, but not customers from other countries.

Iceland was handed a huge win today by the court of the European Free Trade Association.

The court said that Iceland did not break the law when it decided not to cover the losses of foreigners who had deposited money in Landsbanki, the Icelandic bank that failed in 2008.

The AP explains:

For 15 years, an Icelandic teenager has been called her given name, Blaer Bjarkardottir, by everyone except government employees and other officials. That's because "Blaer" (reportedly Icelandic for "light breeze") isn't on a list of government-approved names for girls.

So, in school and at the bank, she is often addressed as "stulka" — "girl" — before she explains the situation.

When Iceland air announced it would start flying into Denver International Airport, Mayor Michael Hancock said the new route would generate more than $19 million in tourism spending.