Page last updated at 19:11 GMT, Tuesday, 30 September 2008 20:11 UK

Global financial crisis: Your stories

Wall Street
Wall Street problems have repercussions worldwide
The past few weeks have been ones of great financial uncertainty with the collapse of banks in the US and the nationalisation of the Bradford and Bingley in the UK and the partial nationalisation of Fortis in Europe.

Here BBC website readers tell us how the global economic crisis is affecting their lives.

ALEX ELLIOTT, REYKJAVIK, ICELAND
I moved to Iceland two years ago because I fell in love with the country.

Living in here with student debts in the UK has become a killer responsibility recently.

Together, my partner Brad and I send 600 or 650 home each month, depending on the exchange rate.

In one year the cost of 600 has shot from 75,000 krona to 110,000 today.

Alex Elliott
Alex Elliott moved from the UK to Iceland and is feeling the pinch
Our monthly rent is 110,000 krona and my partner's after-tax monthly pay is only 120,000 krona - shocking.

Despite living in one of the world's richest countries and earning a fair amount, we are suddenly struggling like we haven't done since I was a full-time student in Cheltenham.

It's just not funny any more. Personally we have been affected by the rapid increase in food prices and the cost of sending money home, but luckily we do not own a house yet and sold our car in July (because it failed its MoT, not specifically because of petrol prices.)

Today there is a sense of anticipation in Iceland. After yesterday's flurry of news, things are quiet. It feels like we're waiting for something.

(Krona update: Hit 180 to the pound for the first time yesterday and was later at 189.87 to the pound.)

The Fortis situation was a shock to me, all my retirement fund as well some valuables were at a Fortis safe in Istanbul.

Fortis Turkey is a limited company founded and operated by Turkish Law and due to very strict local regulations it is very hard for them to go bust.

However, people are losing confidence and rushing to withdraw their money. This may result in liquidity difficulties.

One anticipates no government intervention which will make the situation even worse with confidence depleting as the worst case scenario.

The Turkish banks are in a good position but the problem seems to be that lots have been taken over by foreign banks eg HSBC, ING, Fortis etc and that is what is worrying.

ANDREW JAMES, CHAMPAGNE REGION, FRANCE
We have over 100,000 euros in savings with Fortis bank in France. Since the news broke yesterday we have been unable to get through to the branch.

Euros are protected by the bank of France but the reality is we just don't know where we stand and/or the current value of our savings. We are worried sick.

Everyone's bailing out the banks but no-one's bailing out the people.

They're selling banks for a pound and propping it all up with taxpayers' money.

Ironically, just 24 hours ago I was watching the news and saying 'not in France' now everything seems to have changed.





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