The Icelandic Government bought 75 percent stake in Glitnir to ensure broader market stability after in suffered liquidity issues.Glitnir has operations in 10 countries will collapse if the government will not intervene, according to David Oddsson - chairman of the Central Bank of Iceland.
The economic turmoil in the global markets is now taking effects in countries in continental Europe.
Link: Glitnir and Hypo Real Estate strike rescue deals - Times Online
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