Iceland Bankrupt – Iceland is a country with 304,000 people who live in it.  The country is now bankrupt and this news is shocking the world because it is not only a bank or a company, but this is a country and the country is bankrupt.  So, what will happen to them?

The Iceland government took control of the country’s largest bank, Kaupthing (KAUP.ST), and halted trading on the Reykjavik stock exchange until Oct. 13. Now the country is emerging as the biggest casualty of the global financial crisis.

Now the Iceland could face bankruptcy. In a televised address to the nation, Prime Minister Geir Haarde said that this is a very real danger, fellow citizens that the Icelandic economy in the worst case could sucked into the whirlpool, and the result could be national bankruptcy. The country is seeking for some help from IMF or from Russia. Well I wish there are The Iceland Goes Bankrupt News was wrong.