2008 in Iceland

Incumbents

• President - Ólafur Ragnar Grímsson
• Prime Minister - Geir Haarde

  Events

May

• May 29 - A strong earthquake measuring 6.1 on the Richter scale strikes Iceland near the town of Selfoss.

  September

• September 29 - The government of Iceland takes control of the country's number three bank, the struggling Glitnir Bank.

  October

• October 7 - Subprime mortgage crisis
• * Russia agrees to provide Iceland with emergency loans of 4 billion euros.
• * Iceland's Financial Supervisory Authority takes control of troubled Landsbanki Bank.
• October 9 - Kaupthing Bank, Iceland's largest bank, is nationalized by the country's Financial Supervisory Authority.
• October 21 - Iceland's Kaupthing Bank fails to pay interest to its 50-billion-yen bondholders in Japan.
• October 29 - Danish-based low-cost carrier Sterling Airlines files for bankruptcy and stops all passenger flights after its cash-strapped Icelandic investors were unable keep the company afloat.

  November

• November 19 - The International Monetary Fund approves a US$2.1 billion rescue package for Iceland following its financial crisis.