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As Iceland Reels, Finance Minister Explains Crisis

Published October 7, 2008 at 4:00 PM EDT

The global credit crunch is threatening the Icelandic economy. Its financial sector has assets worth 12 times the country's gross domestic product. Finance Minister Arni Mathiesen says a total bankruptcy, which has been predicted, would pull a large portion of society down with it.

Copyright 2008 NPR
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