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Icelanders rally to protest economic meltdown

1 December 2008, 20:22 | Associated Press
Icelanders rally to protest economic meltdown
AP
Some of the thousands of Icelanders who
protested outside Iceland's parliament,
in Reykjavik, Saturday, Nov. 29, 2008
at the country's economic meltdown.
REYKJAVIK, Iceland (AP) _ Hundreds of Icelanders stormed the country's central bank Monday demanding the sacking of the governor they blame for the country's economic collapse.

 

The demonstrators banged on the glass doors of the central Reykjavik building demanding to be let in. After several minutes, a line of black-clad officers withdrew to let them pass into the bank.

They filled the bank's foyer, shouting "Fire David," referring to former prime minister and current central bank governor David Oddsson.

The global credit crunch brought down the tiny country's three main banks in October. Since then business have failed, unemployment has risen, prices have shot up and the value of the country's currency, the krona, has plummeted.

Iceland has been forced to seek $10 billion in aid from the International Monetary Fund and individual countries. "The government played roulette and the whole nation has lost," writer Einar Mar Gudmundsson told a peaceful rally of several thousand in central Reykjavik on Monday.

Monday marks the 90th anniversary of Dec. 1, 1918, when Iceland became a self-governing country under the Danish crown. Iceland gained full independence in 1944. Prime Minister Geir H. Haarde told The Associated Press onSaturday that he does not accept personal responsibility for the crisis. He blames commercial bankers who took reckless risks over the last decade.

But many Icelanders say the government oversight of the banks was too week. They say the government should resign and hold new elections. Haarde's coalition came to power last year and does not have to call a vote until 2011.

Disillusionment with the country's politicians is widespread. Marketing manager Runar Birgisson said he helped vote Haarde's government into power.

"Today, I wouldn't elect any of them," he said. "I wouldn't hire them to clean my toilet."

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