{"page":"\u003clink rel=\"stylesheet\" href=\"https://lessonplanet.com/assets/packs/css/resources-c03aa079.css\" /\u003e\n\u003clink rel=\"stylesheet\" href=\"https://lessonplanet.com/assets/packs/css/lp_boclips_stylesheets-517835be.css\" media=\"all\" /\u003e\n\u003cdiv data-title='Landsbanki nationalised, newspapers, reax, parliament' data-url='/boclips/videos/5c54be85d8eafeecae13c41f' data-video-url='/boclips/videos/5c54be85d8eafeecae13c41f' id='bo_player_modal'\u003e\n\u003cdiv class='boclips-resource-page modal-dialog panel-container'\u003e\n\u003cdiv class='react-notifications-root'\u003e\u003c/div\u003e\n\u003cdiv class='rp-header'\u003e\n\u003cdiv class='rp-type'\u003e\n\u003ci aria-hidden='true' class='fai fa-regular fa-circle-play'\u003e\u003c/i\u003e\nVideo\n\u003c/div\u003e\n\u003ch1 class='rp-title' id='video-title'\u003e\nLandsbanki nationalised, newspapers, reax, parliament\n\u003c/h1\u003e\n\u003cdiv class='rp-actions'\u003e\n\u003cdiv class='mr-1'\u003e\n\u003ca class=\"btn btn-success\" data-posthog-event=\"Signup: LP Signup Activity\" data-posthog-location=\"body_link_boclips\" data-remote=\"true\" href=\"/subscription/new\"\u003e\u003cspan\u003e\u003cspan\u003eGet Free Access\u003c/span\u003e\u003cspan class=\"\"\u003e for 10 Days\u003c/span\u003e\u003cspan\u003e!\u003c/span\u003e\u003c/span\u003e\u003c/a\u003e\n\u003c/div\u003e\n\u003c/div\u003e\n\u003c/div\u003e\n\u003cdiv class='rp-body'\u003e\n\u003cdiv class='rp-info'\u003e\n\u003cdiv aria-label='Hide resource details' class='rp-hide-info' role='button' tabindex='0'\u003e\u0026times;\u003c/div\u003e\n\u003ci aria-label='Expand resource details' class='rp-expand-info fai fa-solid fa-up-right-and-down-left-from-center' role='button' tabindex='0'\u003e\u003c/i\u003e\n\u003ci aria-label='Compress resource details' class='rp-compress-info fai fa-solid fa-down-left-and-up-right-to-center' role='button' tabindex='0'\u003e\u003c/i\u003e\n\u003cdiv class='rp-rating'\u003e\n\u003cspan class='resource-pool'\u003e\n\u003cspan class='pool-label'\u003ePublisher:\u003c/span\u003e\n\u003cspan class='pool-name'\u003e\n\u003cspan class='text'\u003e\u003ca data-publisher-id=\"30356011\" href=\"/search?publisher_ids%5B%5D=30356011\"\u003eCurated Video\u003c/a\u003e\u003c/span\u003e\n\u003c/span\u003e\n\u003c/span\u003e\n\u003c/div\u003e\n\u003cdiv class='rp-description'\u003e\n\u003cspan class='short-description'\u003e1. Various exteriors of Landsbanki headquarters2. Mid shot of entrance3. Close up of people walking out of entrance4. SOUNDBITE: (English) Sigurdsson (no first name given), Local Resident:\"Everything is closed. We couldn't sell our stock...\u003c/span\u003e\n\u003cspan class='full-description hide'\u003e1. Various exteriors of Landsbanki headquarters\u003cbr/\u003e2. Mid shot of entrance\u003cbr/\u003e3. Close up of people walking out of entrance\u003cbr/\u003e4. SOUNDBITE: (English) Sigurdsson (no first name given), Local Resident:\u003cbr/\u003e\"Everything is closed. We couldn't sell our stock or take money from the bank. We went to another branch in (inaudible) but everything is closed.\" \u003cbr/\u003e5. Various shots of city centre\u003cbr/\u003e6. SOUNDBITE: (English) Jakob Haroldsson, Local Resident:\u003cbr/\u003e\"No no! We are the fifth or almost the sixth richest country in the world. We have now a system in place. Because our problem has been the Federal Bank. The guy who was running that bank and the board was doing an extremely bad job. Now the government is waking up after a one-year sleep. They are throwing them away the board of the Federal Foundation. So now everybody will get their money.\"\u003cbr/\u003e7. Various shots of newsagent shop\u003cbr/\u003e8. Close ups of newspapers\u003cbr/\u003e9. Exterior shots of Parliament building\u003cbr/\u003eIceland nationalised its second-largest bank on Tuesday under day-old emergency legislation and said it had negotiated a 5.4 (b) billion US dollar loan from Russia to shore up the nation's finances amid a full-blown financial crisis.\u003cbr/\u003eA Russian official, however, said a loan had not been agreed.\u003cbr/\u003eThe bailout of Landsbanki came a day after trading in shares of major banks was suspended, the Icelandic krona lost a quarter of its value against the euro, and the government rushed through emergency legislation giving it sweeping powers to deal with the financial meltdown.\u003cbr/\u003eWithin hours of the government move, the Samson holding company, which held a 41 percent stake in Landsbanki, went to the district court seeking temporary protection from its creditors.\u003cbr/\u003eIceland's central bank said in a statement that it had been informed by the Russian ambassador, Victor I. Tatarintsev, that Iceland would be given a loan of 5.4 (b) billion US dollars, and that this had been confirmed by Prime Minister Vladimir Putin.\u003cbr/\u003eHowever, the Russian state news agency RIA-Novosti quoted Deputy Finance Minister Dmitry Pankin as saying there had been no formal approach from Iceland and no decision had been made.\u003cbr/\u003eA loan would support the government's efforts to gain control of an increasingly dire financial situation, which saw the government coming to rescue of the third-largest bank, Glitnir, only last week.\u003cbr/\u003ePrime Minister Geir H. Haarde warned late on Monday that the heavy exposure of the tiny country's banking sector to the global financial turmoil raised the spectre of \"national bankruptcy.\"\u003cbr/\u003eMeanwhile, Iceland's largest bank, Kaupthing said on Tuesday that it has received a 680 (m) million US dollar loan from the Icelandic central bank.\u003cbr/\u003eBut said it has not been approached by the country's financial regulator about any possible state intervention.\u003cbr/\u003eIceland is paying the price for an economic boom of recent years that saw its newly affluent companies go on an acquisition spree across Europe and its banking sector grow to dwarf the rest of the economy. \u003cbr/\u003eBank assets are nine times annual gross domestic product of 19 (b) billion US dollars.\u003cbr/\u003eInvestors are now punishing the whole country for the banking sector's heavy exposure to the global credit squeeze - its currency has gone through the floor, imports have fallen and inflation is soaring.\u003cbr/\u003eA collapse of the Icelandic financial system could reverberate across Europe, given the heavy investment by Icelandic banks and companies across the continent.\u003cbr/\u003eOne of the country's biggest companies, retailing investment group Baugur, owns or has stakes in dozens of major European retailers - including enough to make it the largest private company in Britain, where it owns a handful of well-known stores such as the famous toy store Hamley's.\u003cbr/\u003eLocal residents interviewed by AP Television News in the capital, Reykjavik, expressed mixed reactions to the crisis, with one complaining about being unable to access his branch, but another said he had full confidence in the country's banking system.\u003cbr/\u003e\u003c/span\u003e\n\u003c/div\u003e\n\u003cdiv class='action-container flex justify-between'\u003e\n\u003cbutton aria-expanded='false' aria-label='Read more description' class='rp-full-description' type='button'\u003e\n\u003ci 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