The nation of Iceland imploded financially on Thursday, with its currency crashing and its financial institutions nationalized. The prospect of national bankruptcy was broached by the Prime Minister himself. From the New York Times:

Iceland’s financial system collapsed Thursday, and analysts said it was probably only a matter of time before the country would have to turn to the International Monetary Fund for help. Such a move, which would make this small island nation the first sovereign state to fall victim to the credit squeeze that began last year, would require it to accept harsh measures to restore fiscal and monetary stability.

Iceland has tried desperately to avoid such a step. But the odds against it grew worse on Thursday when the government took over the last of three major banks and shut down the stock exchange.

Iceland’s currency, the krona, has fallen precipitiously, and is at the root of the current disaster facing the country.

Trading in the Icelandic krona ceased, with foreign banks no longer willing to take the currency — even at what seemed like bargain rates.

“Iceland is bankrupt,” said Arsaell Valfells, a professor at the University of Iceland. “The Icelandic krona is history. The only sensible option is for the I.M.F. to come and rescue us.”

The I.M.F.’s intervention in Iceland would underline the extraordinary reversal in the country’s fortunes after a decade-long, debt-fueled binge by the country’s banks, businesses and some citizens. The banks, while avoiding the troubled mortgage securities that have humbled Wall Street, expanded aggressively at home and abroad. When credit tightened and the krona fell this year, they were unable to finance their debts, many of which are denominated in foreign currencies.

The dollar is not the krona, but certainly the dangers of currency collapse are evident by this episode. Even sovereign governments are not immune to the laws of math, including the United States. A truly scary situation continues to unfold worldwide. Confidence has been lost, and at this point is as important as key economic data. Read the New York Times story here.

hot blonde office sex
male crossdressers
cute young gay boys
heather deep throat
enormous penises
tranny dick
bbw modeling
nylon fetish tgp free
small twinks
1992 polaris trail boss
amazing fuck
dirty aly pussy
antique double sink bathroom vanities
star wars chicks nude
toon bestiality
jizz on glasses rachel
gothic femdom
round ass latina
school girl fucked
muscle men xxx
anatomy of the throat
white chicks black dicks
force fuck
nude nylon
horny french maids
maid upskirt
erotic ebony lingerie
girls double fucked
anime double penetration
coed anal rimming
extreme hardcore double penetration
office stockings sex
cute dog names
free shemale clips
granny porn clips
sister masturbated my penis
herbs to stop smoking
18 gay college studs
fucking tight pussy and tits
lesbian sexcams
bridal shower themes
filipina girl pool
dirty talk cum
lisa lawyer shemale
dirty pair hentai
stories of bestiality
free big boobs
pissing in girls mouths
high school musical nude pics
erotic text stories
korean shemale
young tan stud
gothic girl gets banged
paparazzi nude celeb photos
gothic lolita bible extra scans
large objects in pussy
chix with dicks
detroit 60 series smoking
corset nylons sex
doctor fetish stories
girls gone wild videos
nude brunettes viewed from behind
latina trannys
private boarding schools
masturbation tricks
hot latina sex
free sexcams no e-mail
shit swap
yj transmission swap
biker party girls
she stuck the dildo in her
naked girls kissing
flexible mortgage advice
guys wearing nylons and panties
horny fat chicks
teacher stress article
girls long tongue tricks
dog orgasm
horny spanish ladies
erotic cunt
flexible erotica
tight long skirts
richard’s erotic stories
jizz over my stockings
red heads getting fucked
tongue to her pussy
bondage extreme
black bitch galleries
grannies fucked
tiava deep throat
trans anal
coed hockey mixed shower
maui deep sea fishing
lesbian gang bangs
blowjob technique
erotic massage
horny police women
waningmoon gothic personals
thick bitch
realistic animal dildos
sex machine jodi
black dicks latino chicks
free big ebony tit movies
nude marykate and ashley olsen
cum jizz
nude celebrity wallpapers
ass licking mistress
cunt bubble
ebony tranny gape
coeds fucking movie galleries
nude vanessa anne hudgens
beastiality photos
blowjob monster
naked massage
dirty couples
roll to roll hot foil machines
nude sisters
fuck tight
celebrities in pantyhose and stockings
interracial 69
cartoon chicks
teen swallow cum
fake celeb nudes
giant dog collars
hand
animal lovers jewelry
oriental chicken salad recipes
gay group
party group sex
cunt munching
wild tranny
japanese schoolgirl panties
boys swim
dirty gay close up batt fucking
teen boy models
sexy blonde slut
oriental girls gallery
flexible teen
dirty cock suckers
beastiality drawings
naked brunette spanked
hot sexy latina
largest male penis
nifty bisexual stories
nude male bodybuilder
cunt whipping
cosplay sex
plastic surgery slumber party
cheerleader strippers
big cock suckers
fingering caught
hot chubby indian
hentai cheerleaders
jizz in her mouth
largest lake trout ever caught
dicks sporting good
caught camera nude
long skinny dick
gay cum facial
porn movie galleries
ginger sluts
pornstar video clips
forced feminization of males
tiffany taylor ffm
gothic lesbian
deep throat cock sucking
porn free clips
tits and arse lovers
big facial jizz
cunt lips
facial video preview
little girls
lolita bitch
lindsey lohan nipple slips
small block chevy head swap
orgasm female
deep throat cock
nude asian men
free videos granny fucks
ewa bien lingerie
lesbian fuck fest
racist korean jokes
amateur porn clips
double titty fuck
free nude paparazzi pics
big butt implants
flashing girls
women caught on camera pissing
mens dick
lady in shower
party cum
male nude model
male masterbation videos
shit swap
korean slut
dirty anal kelly
hot gothic nudes
rich girl
free webcam streaming chat
mom and dad sex
log cabin decor
tera patrick cum
throw some ds on that bitch
free handjob in nylon
free pornstar videos
finasteride andro penis
little boys in speedos
free teen masturbation movies
black monster cum
hardcore fuck videos
olsen twincest
oriental treasures wholesale account ebay aol
beach bj
ffm sluts
backyard blowjob
locking electrical outlet cover
boat orgy
hairy men sex
free lesbian porn movies
how to make penis bigger