title: 2008 in Iceland
text: # 2008 in Iceland
  
  The following lists events that happened in 2008 in Iceland.
  
  ## Incumbents
  
  * President – Ólafur Ragnar Grímsson
  * Prime Minister – Geir Haarde
  
  ## Events
  
  ### May
  
  * May 29 - A strong earthquake measuring 6.1 on the Richter scale strikes Iceland near the town of Selfoss.
  
  ### September
  
  * September 29 - The government of Iceland takes control of the country's number three bank, the struggling Glitnir Bank.
  
  ### October
  
  * October 7 - Subprime mortgage crisis
     * Russia agrees to provide Iceland with emergency loans of 4 billion euros ($5.4 billion).
     * Iceland's Financial Supervisory Authority takes control of troubled Landsbanki Bank.
  * October 9 - Kaupthing Bank, Iceland's largest bank, is nationalized by the country's Financial Supervisory Authority.
  * October 21 - Iceland's Kaupthing Bank fails to pay interest to its 50-billion-yen (US$493 million) bondholders in Japan.
  * October 29 - Danish-based low-cost carrier Sterling Airlines files for bankruptcy and stops all passenger flights after its cash-strapped Icelandic investors were unable keep the company afloat.
  
  ### November
  
  * November 19 - The International Monetary Fund approves a US$2.1 billion rescue package for Iceland following its financial crisis.
  