Global financial crisis in October 2008 while Kaupthing was subjected to a rescue plan. On October 6, the Icelandic Financial Supervisory Authority decided temporarily to suspend from trading on regulated markets all financial instruments issued by Glitnir banki hf., Kaupþing banki hf., Landsbanki Íslands hf., Straumur-Burðarás fjárfestingarbanki hf., Spron hf., and Exista hf. Before the opening of the business day, October 6. BNP Paribas, the French bank, assumed control of the remaining assets of Fortis following Dutch nationalization of the operations of the bank in The Netherlands. Denmark, Austria, and possibly Germany, joined Ireland and Greece in guaranteeing bank deposits on Monday, October 6. Following this,
Global financial crisis in September 2008 Romania, and Ukraine the economic crisis was characterized by difficulties with loans made in hard currencies such as the Swiss franc. As local currencies in those countries lost value, making payment on such loans became progressively more difficult. As the financial panic developed during September and October 2008, there was a "flight-to-quality" as investors sought safety in U.S. Treasury bonds, gold, and currencies such as the US dollar (still widely perceived as the world’s reserve currency) and the Yen (mainly through unwinding of carry trades). This currency crisis threatened to disrupt international trade and produced strong pressure on all world