Following an emergency meeting at the Central Bank of Iceland on Sunday night the Government of Iceland has acquired 75% of stock in Iceland's second largest bank, Glitnir, at the price of 600 million euros. Immediately following that the largest shareholder in Glitnir, Stoðir with around 32% stake, filed for a moratorium process. The domino effect will most likely continue down the chain of the interlinked Icelandic financial market.
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