Created Thu 9th Oct 5:29pm PDT by 
hect0r
All questions » World » Europe » hect0r 
Will Iceland be officially bankrupt by the end of the year?
Current forecast: 7% chance 
Combining all predictions, the current forecast is that this is 7% likely to happen (unchanged in last 1 day)
Iceland is having financial crisis, which has led to the nationalization of it's 3 main banks. As it is a small country, there is a risk of the Icelandic government itself defaulting. There have been warnings of national bankruptcy. The national currency, the krona has also encountered problems.
Some background. From the Icelandic POV we have http://www.icenews.is/index.php/2008/10/07/iceland-economic-update-full-analysis/ and from the POV of British investors in Icelandic banks http://marketoracle.co.uk/Article6749.html. Interestingly, there is a certain amount of frustration going both ways as a result of the crisis: http://www.icenews.is/index.php/2008/10/12/the-guardian-publishes-icelanders%E2%80%99-stories/.
Some background. From the Icelandic POV we have http://www.icenews.is/index.php/2008/10/07/iceland-economic-update-full-analysis/ and from the POV of British investors in Icelandic banks http://marketoracle.co.uk/Article6749.html. Interestingly, there is a certain amount of frustration going both ways as a result of the crisis: http://www.icenews.is/index.php/2008/10/12/the-guardian-publishes-icelanders%E2%80%99-stories/.
Settlement details:
As reported by a major mainstream news source. Statement must come before suspension date.
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Activity: H$43,386
Question suspends in 4 weeks
Suspend date: Wed 31st Dec 8:59pm PST (4 weeks to go)
Initial likelihoods: Yes: 20%
Action history:
Created Thu 9th Oct 5:29pm PDT by hect0r
hect0r
Changed Description Sun 12th Oct 9:39am PDT by 
infernalmachine![[Admin]](http://www.hubdub.com/images/icon_admin.gif "This user is an admin")
: show details
infernalmachine: show details ... krona has also encountered problems.<br/> <br/> Some background. From the Icelandic POV we have <a href="http://www.icenews.is/index.php/2008/10/07/iceland-economic-update-full-analysis/">http://www.icenews.is/index.php/2008/10/07/iceland-economic-update-full-analysis/</a> and from the POV of British investors in Icelandic banks <a href="http://marketoracle.co.uk/Article6749.html">http://marketoracle.co.uk/Article6749.html</a>. Interestingly, there is a certain amount of frustration going both ways as a result of the crisis: <a href="http://www.icenews.is/index.php/2008/10/12/the-guardian-publishes-icelanders%E2%80%99-stories/">http://www.icenews.is/index.php/2008/10/12/the-guardian-publishes-icelanders%E2%80%99-stories/</a>.
Suspend date: Wed 31st Dec 8:59pm PST (4 weeks to go)
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score: 10
Money 8 hours ago
Icelanders protest in Reykjavik, some calling on officials to resign for bungling the financial crisis. Reykjavik once hosted financiers and entrepreneurs. Bankruptcy lawyers have taken their place. Icelanders, here at a pub, are taking pay cuts to save
score: 10
BBC 6 days ago
Icelanders found it difficult to cope with soaring prices The annual rate of inflation in Iceland has escalated to a record high of 17.1% as the country battles the worst financial crisis in its history. The Icelandic statistics agency said prices rose
score: 10
ITN 1 week ago
The Treasury has given Iceland 2.2 billion to guarantee British deposits at collapsed bank Icesave, it has been disclosed. The money is part of a $10.2 billion (6.8 billion) package of support
score: 10
Wall Street Journal Online 1 week ago
The path was cleared for the International Monetary Fund to approve a $2.1 billion rescue package for Iceland, after the government said it had secured $3 billion in additional aid and expects to refloat its currency by the end of the year.
score: 10
Deutsche Welle, Germany 3 weeks ago
Iceland is to receive a $6 billion (5 billion euro) loan from the IMF and a collection of European countries in a bid to prevent the island-state...
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