Following the stockmarket crash and the collapse of the icelandic banks, the country has been declared bankrupt.

Bailiffs arrived yesterday to repossess the country. As usual, it will be auctioned, along with repossessed suites, cars, bikes etc:

http://www.flickr.com/photos/titanas/2928595405/sizes/o/

Steve

Last time Iceland had a crash like this, aisle three was closed all day.

question for geography students; What is the capital of Iceland?

answer; about three pounds fifty........

At least someone has a sense of humour but doubtful anyone in Iceland would see it that way

Ooooh, I'll have 3 of those. I could just do with a spare country.

JUST for a split second I took this seriously...