Despite a three-day closure of stock exchange, the OMC-Iceland 15-index suffered a massive breakdown, dropping from 2.287,53 points last Thursday to 717,09 on Monday. In an attempt to save the Icelandic financial system, the government took control of three of the country's largest banking institutes (Kaupthing Bank, Glitnir Bank and Landsbanki Islands) - a futile attempt, as proven yesterday. Due to this crisis, trade and investments are possibly at the lowest level ever, as foreign banks are no longer willing to accept the Icelandic krona, causing the devaluation of the currency with no less than 50% since the beginning of this week. Uncertainity reigns today in Iceland; some analysts suggest that Iceland should bail out of the IMF, while others think Iceland should seek rescue from international lenders - leaving the Icelandic government with the enormous challenge of saving its country from "national bankruptcy".
Nico Schoutteet
1 opmerking:
Despite a three-day closure of [the] stock exchange, the OMC-Iceland 15-index suffered a massive breakdown, dropping from 2.287,53 points last Thursday to 717,09 on Monday.
In an attempt to save the Icelandic financial system, the government took control of three of the country's largest banking institutes (Kaupthing Bank, Glitnir Bank and Landsbanki Islands) - a futile attempt, as proven yesterday. Due to this crisis, trade and investments are possibly at the lowest level ever, as foreign banks are no longer willing to accept the Icelandic krona, causing the devaluation of the currency with no less than 50% since the beginning of this week. Uncertainity reigns today in Iceland; some analysts suggest that Iceland should bail out of the IMF, while others think Iceland should seek rescue from international lenders - leaving the Icelandic government with the enormous challenge of saving its country from "national bankruptcy".
Topic sentence not OK: it does not summarize the rest of the paragraph. Own words?
Een reactie posten