During his 13-year rule as prime minister, Mr Oddsson oversaw the privatisation of Iceland’s three banks that collapsed last October. He was listed among TIME magazine’s choice of 25 people to blame for the financial crisis. However, the owners of the broadsheet daily Morgunbladid made the decision to appoint him as co-editor, despite reservations among [...]

Iceland can’t afford to wait any longer for its International Monetary Fund review and the transfer of the second tranche of its IMF-led bailout loan, Prime Minister Johanna Sigurdardottir said. From Bloomberg

Foreign Minister’s Ossur Skarphedinsson’s adress at the UN yesterday. Absolutely groundbreaking…or no, not really. Mr. President, Only a year ago, this very weekend, my country, Iceland found itself in the beginning of the global financial storm. It swept almost the entire banking system off the ground, and left Iceland facing her most severe economic set-back [...]

New Kaupthing has reported the management of Exista, employees of Deloitte and the law firm Logos to the Special Prosecutor because of the sale of Exista’s shares in Bakkavor Group on September 11, 2009. Brothers Agust and Lydur Gudmundsson financed their own 8,4 billion ISK purchase of 39,2% in Bakkavor through Exista which is mostly [...]

The spin had to begin already. Reykjavik City councilman Gisli Marteinn Baldursson of the Independence Party, whose idol has now been made Morgunbladid’s editor describes how he decided to call the subscription department to get the paper. He claims the lady on the other end of the phone told him that there had been more [...]

If I were the director of the Financial Authority then the last thing I would do would be to announce in the media that I was forming special teams’ who would soon be able to enter financial institutions without any notice if suspected of anything. But that is what Gunnar Andersen has done. And he [...]

“Whatever you say about the Icelandic banks, they operated within the framework of the European regulations on banking and finance,” Grimsson, who is the country’s head of state and doesn’t lead the government, said in an interview with Bloomberg radio in New York today. From Bloomberg The president who’s got his foot firmly stuck in [...]

Frettabladid indicates today that all mortgages are to be taken over by the state run Icelandic Housing Financing Fund. The reason for this would be to ensure that if actions are taken to reorganize the debt of Icelandic mortgage holders, then there would be no danger of different treatment by different banks. Frettabladid also indicates [...]

Fashion entrepreneur Karen Millen says she would consider buying back the chain she founded if it was put up for auction by its Icelandic owners. Speculation that Kaupthing owned Aurora Fashions may be split up reignited last week after reports that Debenhams was interested in buying one or more of its businesses, which include Warehouse, [...]

Bruce Feirstein charts the 100 people, companies, institutions, and vices most responsible for the economic mess. From Vanity Fair