Icelandic króna and Icelandic equities depreciated sharply yesterday after Merrill Lynch published a report critical of the Icelandic banks. Domestic reports of a higher than expected current account deficit in 2005 also contributed to the correction. The banks’ reaction was mixed.
March 9, 2006
Regular patrolling of the police in Reykjavík reveals ample evidence of consumption of cocaine and amphetamines. Cocaine, amphetamines, ecstasy and marijuana are the main drugs on the Icelandic market.
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