Icelandic banks have reduced staff by nearly 1,500 and closed more than 60 branches over the last ten years.
Benedikt Jóhannesson, Iceland’s minister of finance, believes the Monetary Policy Committee of the Central Bank of Iceland ought to lower interest rates considerably this month.
The National Church of Iceland has criticized the financial plan of the Government in a formal letter from the church council and the combined bishops. The financial plan is currently going through parliament.
Selling half of the Icelandic state’s share in the country’s banks in coming years could reduce the state’s debt to 10-15 percent of GDP by 2022.
Governor of the Central Bank of Iceland Már Guðmundsson does not like the idea, introduced earlier this week by a construction company, to offer 95 percent loans to home buyers.
An Icelandic construction company is offering ten apartments for sale, where the buyer will only need to provide a five percent down payment.
Three board members of Glitnir Holdco ehf., along with a few Icelandic key employees of the company in Iceland, have already secured a total of ISK 875-1,525 million (USD 7.6 million, EUR 7 million) in bonuses.
Yesterday afternoon, Minister of Social Affairs and Housing Eygló Harðardóttir abstained during a vote on the Icelandic governmment’s budget plan for 2017-2021.
A draft resolution introduced yesterday by Finance Minister Bjarni Benediktsson and Prime Minister Sigurður Ingi Jóhannsson includes measures which would be a big step toward the lifting of capital controls in Iceland.
Icelandic investors have withdrawn their plans to participate in the construction of a privately run hospital in Mosfellsbær, near Reykjavík.
The Personal Income Issue (Tekjublaðið) of Frjáls verslun (Free Trade) magazine has just been published.
Finance Minister Bjarni Benediktsson wants an investigation of the role of the German bank Hauck & Aufhäuser in the purchase of the government’s stake in Búnaðarbanki bank in 2003.
A bill submitted before parliament Friday afternoon by Finance Minister Bjarni Benediktsson regarding so-called offshore króna accounts was passed late last night with 47 members of parliament voting for it.
Preparations are underway for the establishment of a new community bank, Heimilisbankinn (‘The Home Bank’).
The mayor of Reykjanesbær , Southwest Iceland, Kjartan Már Kjartansson, compares the chain of events at a town council meeting yesterday to an American movie.
Lárus Welding, former director of Glitnir Bank, and four other executives from the failed bank, have this morning pleaded not guilty to all charges as their trial begins.
Reykjanesbær council—one of Iceland’s most populous municipalities—may be about to take the unusual decision to ask the central government to take over its finances in an effort to get spiraling debt under control.
Iceland´s FME financial regulator has released a statement which concludes that Landsbankinn’s conduct in selling its 31.2 percent stake in credit card company Borgun could not be considered in line with normal, healthy trading procedures in the financial market.
The Icelandic Tourist Board’s development fund will this spring provide a total of ISK 647 million (EUR 4.6 million/USD 5.1 million) to 66 projects.
The Independence Party believes certain state-owned assets should be sold, such as RÚV― the Icelandic National Broadcasting Service.
The creditors of Glitnir Bank have proposed to relinquish all of Glitnir’s holdings in Íslandsbanki LTD to the State as part of their stability contribution.