BREAKING NEWS: Iceland's Central Bankers Step Down

The bosses of Iceland’s central bank stepped down and said goodbye to their employees on Feb. 26 after the parliament passed a bill restructuring the bank’s senior management policy, reducing the number of chiefs from two to one.

"David Oddsson and Eirikur Gudnason, the governors of the Central Bank of Iceland, announced their resignation at a meeting earlier today, MBL reported. Eirikur Gudnason has worked in the Central Bank for 40 years and hence was an important part of Iceland’s financial history. Oddsson has been chairman since autumn 2005."

"Pursuant to the new Act, the Prime Minister has decided to appoint Svein Harald Øygard to act as interim Governor and Arnór Sighvatsson, the current chief economist of the bank, as interim Deputy Governor. The interim Governor and Deputy Governor will hold these positions until appointments are made by the Prime Minister on the basis of advertisements, in accordance with the provisions of the Act."