LONDON: Iceland's government said Thursday that it has appointed a British firm, Hawkpoint Partners Ltd., to lead negotiations with creditors of recently nationalized banks. . . .

. . . The banks' foreign debts amount to over $60 billion, dwarfing the country's gross domestic product of $14 billion.   Associated Press report on International Herald Tribune website - 12-Mar-09.

http://www.iht.com/articles/ap/2009/03/12/business/EU-Iceland-Financial-Crisis.php