Iceland bank crisis causes panic

The government of Iceland holds crisis meetings every day and night, with representatives from the IMF, all the banks and the central bank.
Furthermore, there is a run on the banks going on today: people are hoarding foreign currencies and banks are now rationing dollars and euros. Some banks have run out.

The CEO of one of the leading oil companies says there are not enough dollars to buy and import more oil and reserves will last for a month if no hoarding.
The same story in low-cost grocery store chains: there is not enough currency to import more food and the population remains in panic. (Duncan Van Limbergen, news.bbc.co.uk)