October 14, 2008

British Universities Affected by Financial Meltdown in Iceland

By Aisha Labi

The meltdown of Iceland's banking system is having repercussions in Britain's higher-education sector, although the full extent of how many universities are affected remains unclear. Several Icelandic banks have subsidiaries in Britain, and the Icelandic crisis has reverberated through the local economy.

Iceland's financial institutions succumbed last week to the global economic crisis, and the country's three largest banks were nationalized, preventing depositors from gaining

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