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2010 Icelandic Loan Guarantees Referendum
The 2010 Icelandic loan guarantees referendum, also known as the Icesave referendum ( Icelandic: ''Þjóðaratkvæðagreiðsla um Icesave''), was held in Iceland on 6 March 2010. The referendum was held to approve the terms of a state guarantee on the obligation of the Depositors' and Investors' Guarantee Fund (''Tryggingarsjóður innstæðueigenda og fjárfesta''), in particular a €3.8 billion loan (€11,964 per person) from the governments of the United Kingdom and the Netherlands to cover deposit insurance obligations in those countries. The referendum was held under article 26 of the Constitution of Iceland after President Ólafur Ragnar Grímsson refused to counter-sign the corresponding Act of Parliament (known as the second ''Icesave bill'') into law on 5 January 2010. The proposal was resoundingly defeated, with 98% voting against and less than 2% in favor. The referendum was the first to be held in Iceland since 1944, and required special legislation. Th ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Icelandic Language
Icelandic ( ; , ) is a North Germanic languages, North Germanic language from the Indo-European languages, Indo-European language family spoken by about 314,000 people, the vast majority of whom live in Iceland, where it is the national language. Since it is a West Scandinavian languages, West Scandinavian language, it is most closely related to Faroese language, Faroese, western Norwegian dialects, and the extinct language Norn language, Norn. It is not mutually intelligible with the continental Scandinavian languages (Danish language, Danish, Norwegian language, Norwegian, and Swedish language, Swedish) and is more distinct from the most widely spoken Germanic languages, English language, English and German language, German. The written forms of Icelandic and Faroese are very similar, but their spoken forms are not Mutual intelligibility, mutually intelligible. The language is more Linguistic conservatism, conservative than most other Germanic languages. While most of them hav ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Ownership Equity
In finance, equity is an ownership interest in property that may be subject to debts or other liabilities. Equity is measured for accounting purposes by subtracting liabilities from the value of the assets owned. For example, if someone owns a car worth $24,000 and owes $10,000 on the loan used to buy the car, the difference of $14,000 is equity. Equity can apply to a single asset, such as a car or house, or to an entire business. A business that needs to start up or expand its operations can sell its equity in order to raise cash that does not have to be repaid on a set schedule. When liabilities attached to an asset exceed its value, the difference is called a deficit and the asset is informally said to be "underwater" or "upside-down". In government finance or other non-profit settings, equity is known as "net position" or "net assets". Origins The term "equity" describes this type of ownership in English because it was regulated through the system of equity law that develo ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Tranche
In structured finance, a tranche () is one of a number of related securities offered as part of the same transaction. In the financial sense of the word, each bond is a different slice of the deal's risk. Transaction documentation (see indenture) usually defines the tranches as different "classes" of notes, each identified by letter (e.g., the Class A, Class B, Class C securities) with different bond credit ratings. Etymology The word '' tranche'' means ''a division or portion of a pool or whole'' and is derived from the French for 'slice', 'section', 'series', or 'portion', and is also a cognate of the English 'trench' ('ditch'). The term ''tranche'' is used in fields of finance other than structured finance (such as in straight lending, where ''multi-tranche loans'' are commonplace), but the term's use in structured finance may be singled out as particularly important. Use of "tranche" as a verb is limited almost exclusively to this field. Process All the tranches ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Gross Domestic Product
Gross domestic product (GDP) is a monetary measure of the total market value of all the final goods and services produced and rendered in a specific time period by a country or countries. GDP is often used to measure the economic performance of a country or region. Several national and international economic organizations maintain definitions of GDP, such as the OECD and the International Monetary Fund. GDP is often used as a metric for international comparisons as well as a broad measure of economic progress. It is often considered to be the world's most powerful statistical indicator of national development and progress. The GDP can be divided by the total population to obtain the average GDP per capita. Total GDP can also be broken down into the contribution of each industry or sector of the economy. Nominal GDP is useful when comparing national economies on the international market according to the exchange rate. To compare economies over time inflation can be adjus ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
International Monetary Fund
The International Monetary Fund (IMF) is a major financial agency of the United Nations, and an international financial institution funded by 191 member countries, with headquarters in Washington, D.C. It is regarded as the global lender of last resort to national governments, and a leading supporter of exchange-rate economic stability, stability. Its stated mission is "working to foster global monetary cooperation, secure financial stability, facilitate international trade, promote high employment and sustainable economic growth, and poverty reduction, reduce poverty around the world." Established in July 1944 at the Bretton Woods Conference, primarily according to the ideas of Harry Dexter White and John Maynard Keynes, it started with 29 member countries and the goal of reconstructing the international monetary systems, international monetary system after World War II. In its early years, the IMF primarily focused on facilitating fixed exchange rates across the developed worl ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
2009 Icelandic Parliamentary Election
Snap parliamentary elections were held in Iceland on 25 April 2009, following strong pressure from the public as a result of the Icelandic financial crisis. The Social Democratic Alliance and the Left-Green Movement, which formed the outgoing coalition government under Prime Minister Jóhanna Sigurðardóttir, both made gains and formed an overall majority of seats in the Althing. The Progressive Party also made gains, and the new Citizens' Movement, formed after the January 2009 protests, won four seats. The big loser was the Independence Party, which had been in power for 18 years until January 2009; it lost nine seats as its vote share was reduced by around a third, meaning it was not the most voted-for party for the first time since 1937 Background There had been weekly protests in front of the Althing since the collapse of Iceland's three commercial banks in October 2008. These protests intensified with the return of the Althing from Christmas recess on 20 January 2009. ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
European Union
The European Union (EU) is a supranational union, supranational political union, political and economic union of Member state of the European Union, member states that are Geography of the European Union, located primarily in Europe. The union has a total area of and an estimated population of over 449million as of 2024. The EU is often described as a ''sui generis'' political entity combining characteristics of both a federation and a confederation. Containing 5.5% of the world population in 2023, EU member states generated a nominal gross domestic product (GDP) of around €17.935 trillion in 2024, accounting for approximately one sixth of global economic output. Its cornerstone, the European Union Customs Union, Customs Union, paved the way to establishing European Single Market, an internal single market based on standardised European Union law, legal framework and legislation that applies in all member states in those matters, and only those matters, where the states ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
France
France, officially the French Republic, is a country located primarily in Western Europe. Overseas France, Its overseas regions and territories include French Guiana in South America, Saint Pierre and Miquelon in the Atlantic Ocean#North Atlantic, North Atlantic, the French West Indies, and List of islands of France, many islands in Oceania and the Indian Ocean, giving it Exclusive economic zone of France, one of the largest discontiguous exclusive economic zones in the world. Metropolitan France shares borders with Belgium and Luxembourg to the north; Germany to the northeast; Switzerland to the east; Italy and Monaco to the southeast; Andorra and Spain to the south; and a maritime border with the United Kingdom to the northwest. Its metropolitan area extends from the Rhine to the Atlantic Ocean and from the Mediterranean Sea to the English Channel and the North Sea. Its Regions of France, eighteen integral regions—five of which are overseas—span a combined area of and hav ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Landsbanki Freezing Order 2008
Landsbanki (, ), also commonly known as Landsbankinn (, ) was one of the largest Icelandic commercial banks; it failed as part of the 2008–2011 Icelandic financial crisis when its subsidiary sparked the Icesave dispute. On October 7, 2008, the Icelandic Financial Supervisory Authority took control of Landsbanki and created a new bank for all the domestic operations called Nýi Landsbanki (New Landsbanki) and the bank continued to operate under the same name.The Financial Supervisory Authority - Iceland, ''News: Based on New Legislation, the Icelandic Financial Supervisory Authority (IFSA) Proceeds to take Control of La ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
RÚV
Ríkisútvarpið (, ; abbr. RÚV ) is Iceland's national public broadcasting, public-service broadcasting organization. Founded in 1930, it operates from studios in the country's capital, Reykjavík, as well as regional centres around the country. RÚV operates an Online newspaper, online news service, which is the fourth most visited website in Iceland. In 2016, 88% of Icelanders consumed RÚV content every week. The service broadcasts an assortment of general programming to a wide national audience via two broadcast radio stations: Rás 1 and Rás 2; and one full-time RÚV (TV channel), television channel of the same name, RÚV. A supplementary, part-time TV channel, RÚV 2 is also broadcast for special events. It also distributes online-only channels and content for children and the elderly. RÚV is funded by a flat Earmark (politics), earmarked government tax collected from every income tax payer, as well as from on-air Television advertisement, advertising. All of RÚV's ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Davíð Oddsson
Davíð Oddsson (pronounced ; born 17 January 1948) is an Icelandic politician, and the longest-serving prime minister of Iceland, in office from 1991 to 2004. From 2004 to 2005 he served as Ministry for Foreign Affairs (Iceland), foreign minister and as the chairman for the Independence Party (Iceland), Independence Party from 1991 to 2005. Previously, he was Mayor of Reykjavík from 1982 to 1991, and chaired the board of governors of the Central Bank of Iceland from 2005 to 2009. The 2008–2011 Icelandic financial crisis led to vocal demands for his resignation, both from members of the Icelandic public and from the new Icelandic Prime Minister Jóhanna Sigurðardóttir, which resulted in his being replaced as head of the Central Bank in March 2009. In September 2009 he was hired as the editor of ''Morgunblaðið'', one of Iceland's largest newspapers, a decision that caused nationwide controversy and was followed by resignations and widespread terminated subscriptions. He con ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Prime Minister Of Iceland
The prime minister of Iceland () is head of government of the Republic of Iceland. The prime minister is appointed formally by the president of Iceland, president and exercises executive authority along with the Cabinet of Iceland, cabinet subject to parliamentary support. Constitutional basis The prime minister is appointed by the President of Iceland, president under the Constitution of Iceland, Section II Article 17, and chairs the Cabinet of Iceland: : ' : The [cabinet] meetings shall be presided over by the Minister called upon by the President of the Republic to do so, who is designated Prime Minister. Locations The prime minister's office is located in the Governing Council (''Stjórnarráðið''), Reykjavik, where their secretariat is based and where cabinet meetings are held. The prime minister has a summer residence, Þingvallabær in Þingvellir. The prime minister also has a reception house in Tjarnargata, Reykjavik, which was the prime ministerial residence until 1 ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
