Am Law 100 lawyers thinking they have it bad because of the economic meltdown might want to take a moment and consider the plight of lawyers in Iceland. The current economic crisis in the US pales in comparison to that in the land of Bjork and Sigur Ros.
[image_library_tag 891/85891/iceland.jpg' width="200" align="left" vspace="10" border="0" />The small island nation in the North Atlantic - known for its natural beauty and with a population of roughly 300,000 - is now being buffeted by an economic storm that has the country teetering on the brink of bankruptcy. The Government has essentially nationalised the nation's banking sector and citizens are wondering what will become of their savings as the country awaits a possible $5bn (£2.9bn) loan from Russia to ward off insolvency. On Thursday, Iceland announced the closing of its stock exchange until 13 October.
