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Published on Friday, October 10, 2008
By LA Daily News Staff Writer
REYKJAVIK, Iceland - As this tiny, volcanic nation in the middle of the North Atlantic finds itself cut off from the outside world, Icelanders are wondering who, if anyone, will sail to their rescue.
Their island country has never felt so alone. Its major banks have failed, its currency has collapsed, its stock market is suspended - and its leaders seem uncertain where to turn for help.
"Nobody is helping us," said Kolbeinn Blandon, a car dealer whose European autos were gathering dust on his lot on the edge of Reykjavik.
Iceland's economic turmoil just kept on churning Friday. Its Straumur-Burdaras financial group canceled its planned purchase of the overseas corporate finance and brokerage businesses of the failed Landsbanki bank, which was taken over by the government this week.
Prime Minister Geir H. Haarde insisted Friday that the economic situation was "moving slowly back to normal" but admitted that some residents and industries would be hard hit for a long time
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