Turn the chart upside down to see how far and fast the Iceland krona has fallen compared to the euro. This is a direct result of the collapse of Lehman, who was the major lending facility for the third largest (and way over-extended) bank in Iceland.
TimesOnLine: Iceland has suspended trading in their banks, and the domino effect is hitting the UK.
From the comments:
Have been trying to get our money out of IceSave (Landsbanki) all day. It’s impossible. Website allows you to log on, but will not recognize any attempted transfer of funds. We get a message asking us to call the bank, but nobody is there to take the calls. This is a nightmare.
The crisis is now directly impacting small countries, not just corporations.