Word: baile
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...worldwide clamped down on loans in response to the global credit crunch, and investors began to worry that Icelandic banks had leveraged themselves too aggressively. Rumors swirled that the banks would default and that Iceland's central bank, with its modest $2.5 billion reserve, would be hard-pressed to bail them out. As investors pulled out of the market, the Icelandic krona fell by 27% against the U.S. dollar, the cost of insuring Icelandic debt soared to record levels, and inflation surged, hitting a 20-year high of 12.3% in recent days. That bleak combination has created a widespread perception...
...banks flatly dismiss the notion that the central bank will need to bail out the system. "That's just unthinkable," says Ásgeir Jónsson, chief economist at Kaupthing, Iceland's largest bank. Following the 2006 crisis, banks greatly strengthened their liquidity positions and shifted their liabilities further into the future: on average, newly issued bonds now mature in 2010 or after, rather than within a year. Although Iceland's major banks had hoped to grow quite quickly this year, they will use their liquidity conservatively as a buffer instead. Meanwhile, to their relief, Iceland's banks have negligible...
...four arrested individuals were released on bail, but they will appear for court in July...
Conservatives don’t just feel underappreciated; they worry the maverick’s unrequited love has pushed him leftward. In March, McCain was hands-off the housing market, asserting, “[I]t is not the duty of government to bail out and reward those who act irresponsibly, whether they are big banks or small borrowers.” Two weeks later, he was hands-on, insisting, “We will combine the power of government and the private sector to find immediate solutions for deserving American homeowners...
...past week. On Thursday, Davison Maruziva, editor of the independent weekly The Standard was arrested at his newspaper's Harare office after publishing an opinion piece by M.D.C. figure Arthur Mutambara. A Zimbabwean photographer for Reuters, Howard Burditt, was also detained for three days and released on bail. Meanwhile Chikwore's lawyer, Harrison Nkomo, was arrested while waiting to make presentations at the High Court in connection with Chikowore's case. Nkomo, who has represented other foreign journalists detained in Zimbabwe, is said to have told senior prosecutor Michael Mugabe that his "father" should step down. Mugabe entered a four...