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Iceland’s Pots & Pans Revolution; Pragmatic, Everyday Revolutionaries part 2

The Poor Prole’s Almanac

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The Icelandic Banks and the Banking Collapse

In early 2006, the Icelandic banks had a hiccup with serious difficulties securing funds to provide short-term loans in the financial markets. Lands Banken opened branches in the UK in Netherlands and launched a savings scheme under the name I SAID. The bank operated like a domestic bank in these countries and collected deposits via high-interest-based savings accounts.

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