On October 7, 2008,The Financial Supervisory Authority - Iceland, News: Based on New Legislation, the Icelandic Financial Supervisory Authority (FME) Proceeds to take Control of Glitnir to ensure Continued Commercial Bank Operations in Iceland (08.10.2008) Glitnir Bank, News: Glitnir's Operations Continued – Lárus Welding to continue as CEO (08.10.2008) the Government of Iceland nationalised Glitnir by acquiring a 75% share in the bank for €600 million through the Icelandic Financial Supervisory Authority. The government stated that it did not intend to keep the ownership of the bank for a long term period.
