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Events edit
October edit
- October 5
- The German government moves to back troubled Hypo Real Estate with a 50 billion euro rescue plan. (MarketWatch)
- German Chancellor Angela Merkel announces that Germany will explicitly guarantee the deposits in banks held by its citizens. (MarketWatch)
- October 9
- Iceland nationalises Kaupthing Bank.
- IMF: World on brink of recession; prepares special loan program.
- Markets down across the world; Dow Jones falls below 9,000.
- October 10
- Hampshire councils have £3 million invested in Icelandic banks.
- Dow Jones recovers hundreds of points, before losing them in minutes.
- Global markets plunge.
- WTO calls meeting on trade finance and economic crisis.
- October 11
- G7 says "all available tools" will be used to solve crisis.
- October 11: Iceland and United Kingdom in diplomatic dispute over financial crisis.
- October 11: George W. Bush attempts to reassure Americans in radio address.[1]
References edit
- ^ "PM: British to blame for Iceland bank collapse". Icenews. 11 October 2008. Retrieved 11 January 2016.
