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Originally posted by Rockpuck
reply to post by adrenochrome
$14/$100 billion .. jesus Christ..
Sorry Iceland, you NEED to fail.. start over.. learn from your mistakes please..
Iceland is all but officially bankrupt
"Iceland is bankrupt," said Arsaell Valfells, a professor at the University of Iceland. "The Icelandic krona is history. The IMF has to come and rescue us."
Prime Minister Geir Haarde, who had warned this week of the threat of "national bankruptcy," said Thursday that Iceland's finance minister, Arni Mathiesen, would be in Washington this weekend for the autumn IMF/World Bank meetings. He declined to say whether Iceland was seeking a rescue package from the international lender.
Iceland has approached Russia about a loan of €4 billion, or $5.5 billion, to help see it through the crisis, but Haarde said no agreement had been reached.
The IMF announced an initial agreement with Iceland on a $2.1 billion two-year loan to support an economic recovery program to help the island restore confidence in its banking system and stabilize its currency.
Following review by the IMF's management, the agreement could be presented to the IMF Executive Board for approval in early November. Iceland would be able to draw $833 million immediately after Board approval.
Originally posted by Lucid Lunacy
Come on be fair.
If you feel that way then you should have the same sentiments on our home of USA with the absurd debt we are in.
It's not like everyone is to blame in Iceland, just as that isn't the case in USA.
Corrupt Government, corrupt corporations.
[edit on 8-10-2008 by Lucid Lunacy]
The collapse came so fast it seemed unreal, impossible. One woman here compared it to being hit by a train. Another said she felt as if she were watching it through a window. Another said, "It feels like you’ve been put in a prison, and you don’t know what you did wrong."