REYKJAVIK, Oct 7 (Reuters) - Iceland's central bank said on Tuesday Russia had agreed to provide the country with loans of 4 billion euros ($5.4 billion). The central bank said the loans were for 3-4 years on terms that would be 30-50 points above Libor rates.
The central bank said the loans were for 3-4 years on terms that would be 30-50 points above Libor rates.
The Russians have had roots in Iceland which probably date from Soviet era fishing contacts, if not before, and certainly incorporate "Mafia" etc connections.
You don't buy breweries in St Petersburg without the "biznismen"....
is Russian mafia financing Icelandic expansion abroad?
....of course it was.... "Any economic unit can emit money. The serious problem is to get it accepted" Hyman Minsky
(Sorry, I don't think you meant that as a joke. Apologies.) "Pretending that you already know the answer when you don't is not actually very helpful." ~Migeru.
You prop up the currency, spread false rumours of foreign support, and after all the necessary bank transfers have been made you freeze bank accounts.
Now wait for the peg to drop form 130 Kronur/€ to 250 which is where they should have moved it from 200 to begin with. A vivid image of what should exist acts as a surrogate for reality. Pursuit of the image then prevents pursuit of the reality -- John K. Galbraith
Internet bank Icesave today stopped savers withdrawing their cash after its parent company was nationalised by the Icelandic government. ... It is not known how many UK consumers hold money with Icesave, but it is thought that as many as 300,000 people in this country have savings with an Icelandic institution. Money is mainly held with Icesave and Kaupthing Edge, the UK retail arm of Iceland's biggest bank Kaupthing.
...
It is not known how many UK consumers hold money with Icesave, but it is thought that as many as 300,000 people in this country have savings with an Icelandic institution.
Money is mainly held with Icesave and Kaupthing Edge, the UK retail arm of Iceland's biggest bank Kaupthing.
Maybe that is what you heard?
Nothing about a corralito on the Central Bank of Iceland or Icelandic Financial Supervisory Authority web sites. Checked the "Usual Suspects" in the US financial news and came up empty.
Who had already posted the Independent report in the Special Focus Section of European Salon de News, Discussion et Klatsch.
I also have to apologize for running around in my tinfoil hat. A vivid image of what should exist acts as a surrogate for reality. Pursuit of the image then prevents pursuit of the reality -- John K. Galbraith
Bloomberg now is saying that according to Deputy Finance Minister Dmitry Pankin there no such decision had been taken.
