The Government is set to resort to legal action to recoup billions of pounds paid out to cover the deposits of British savers in collapsed Icelandic banks, the Chief Secretary to the Treasury signalled today.

Banning landings of Icelandic mackerel at all European ports has been hailed as the right response to end a damaging stalemate over catch quotas.

Whistle-blowing organisation WikiLeaks has set up a private limited company in Iceland for administrative purposes as part of a move to restructure its global operations, a spokesman said today.

CAN even one of those clever sociologists in Irish universities, with their massive salaries and pensions paid for by the taxpayer, explain to us why Ireland isn’t like Iceland.

Defiant Icelandic voters have resoundingly rejected a €3.9bn plan to pay off Britain and the Netherlands for debts spawned by the collapse of internet bank Icesave, according to initial results today.

Angry Icelanders went out to vote today determined to give the government a bloody nose over plans to use €4bn of taxpayers' money to pay Britain and The Netherlands for lost deposits when a major bank collapsed.

Iceland’s government is facing a massive public backlash against the use of taxpayers’ money to pay back Britain following the collapse of the country’s banks.

The European Commission today recommended the launch of EU membership negotiations with Iceland.

The Icelandic parliament decided after an emergency session how to stage a national referendum on repaying almost €4bn to Britain and the Netherlands over the collapse of the Icesave bank – a poll that is seen as a defining moment in the bankrupted country’s economic recovery.

Iceland decided today to repay Britain and the Netherlands the billions it borrowed to compensate savers in those countries who lost funds in the collapse of an Icelandic internet bank last year.

ASTON VILLA manager Martin O’Neill believes defender Nicky Shorey has taken inspiration from midfielder Stiliyan Petrov in battling back to regain his first-team spot.

House of Fraser and other well-known UK retailers could be part owned by the Icelandic government under plans to reform the country’s failed financial system, it was reported today.

West Ham’s owner Bjorgolfur Gudmundsson has taken a step towards selling the club after receiving several provisional offers.

LANDSBANKI, one of the three banks seized by the Icelandic government in October, has been given court backing to stop Irish creditors trying to recover their investments before February 26, 2009.

British savers who stand to lose millions of pounds through the collapse of the offshore arm of an Icelandic bank received a boost today when a liquidation hearing was postponed.

A stricken Icelandic bank has been loaned £100m (€128.3m) by the Bank of England to keep it operating while efforts are made to get UK creditors’ money back, it was announced today.

The financial turmoil is a “serious global crisis that requires a serious global response”, US president George Bush said today.

Crisis-hit Iceland suspended trading on its stock exchange until Monday today.

The Icelandic government took control of the country’s largest bank, Kaupthing, today as it struggled to prevent a collapse in its entire banking system.

The financial crisis engulfing Iceland showed no sign of easing today.

Royal Bank of Scotland shares plunged nearly 40% to a 15-year low today as speculation mounted over an imminent taxpayer-funded rescue of Britain’s banks.

Iceland nationalised its second-largest bank today under new emergency legislation as it moved to get a grip on the escalating economic crisis.

Shares fell around the world again today as one country battled for economic survival.

The Icelandic government was today reported to be in crisis talks with the country's central bank over moves to prop up the banking sector.

Blue-chip stocks sunk deeper into the red today as the US Government bank bail-out failed to reassure investors fearful of further woes in the European banking sector.

Iceland came under criticism today from conservationists following a decision to resume commercial whaling.

SHOPPERS can purchase almost anything they want on eBay — now they will get the chance to buy a whale’s freedom.

Icelandic immigration authorities agreed today to grant former American chess champion Bobby Fischer a special foreigners' passport which would allow him to travel to western Europe.

Eccentric pop superstar Bjork has turned down the offer of an island gift from the Icelandic government because she doesn't want her home to become a tourist attraction.

ANIMAL welfare campaigners yesterday criticised the killing of Iceland’s first whale in 14 years.

The mother of pop diva Bjork said today she was frail but determined after three weeks of a hunger strike aimed at persuading the world’s largest aluminium producer to abandon a three billion US dollar (€3bn) project in the Icelandic highlands.