Since none of you bothered to bid, it looks like Iceland is officially bankrupt:

The credit crunch claimed its first sovereign scalp last night as Iceland readied itself to accept an International Monetary Fund (IMF) bailout. … The IMF may provide about $1 billion in emergency cash for Iceland with the balance lent by Norway, Sweden and Denmark and additional money possibly coming from Russia and Japan.

The IMF is likely to attach stringent conditions to the loan, including the stipulation that Iceland quickly deleverage its three nationalised banks Kaupthing, Landsbanki and Glitner.

Who’s next?  Pakistan? California? Did you forget Poland?

Report: Iceland to Accept IMF Bailout [Calculated Risk]

Small Country 4 Sale – €4.2 trillion Euros OBO

Located N. Atlantic Ocean, pop. 320,000; 285,274 BR; 279,305 FB; 102,992 HB; 103,000 sq. km. lot.  Excellent loc. due to global warming; first world infrastructure w/ old world charm.  Includes abundant geothermal energy, great fish stocks, and Bjork. Recently 4th most productive country in world.  All reasonable offers considered. Payment methods acceptable: rubles, euros, MC, Visa, Diners Club.  No personal checks, no US$-denominated offers.  Ask for Mr. Haarde.

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