The Russian government has decided to approve a loan to the Icelandic government up to 64 billion Icelandic kronur (500 million USD). According to the Russian news source, Vedomosti, Assistant Secretary of Treasury in Russia Dmitry Pankin approved this today.
According to the Barents Observer, the loan negotiations have been in progress for quite some time. Russia has much interest in Iceland due to its energy resources and geographical location. Icelandic President Olafur Ragnar Grimsson said a few months ago that Iceland needs to find new friends since some close allies refused to grant Iceland a loan. The President then offered to Russia use of the Keflavik Airport for military operations but the Russian government denied this proposal.
See the full article at the Vedomosti or Barents Observer.
(Photo/BarentsObserver)
Almost forgot, we did get a loan from Faroe islands, it has zero interests,
in times like this its good to have real friends.
Its always hard to see what Russia is going to do and what they are thinking,
they seem to think we are good for this loan,
no one will influence the Russians, not Britain, Netherlands or the EU.
When the EU has finished expanding and crushing all resistance, like the Irish,
it will start making life hard for those left out of the EU to prepare for the next expansion.
“Po the first quarter of 2009, Iceland’s external debt exceeded $ 100 billion and amounted to almost 850% of GDP”
i think we are down to just 200% of GDP :)
and the only loan we have recieved so far is $800 m
from IMF, and not a dime spent.
jolie. Are you jokeing?
Direct link to MinFin of Russia (sorry, in Russian)
http://www1.minfin.ru/ru/press/speech/index.php?id4=7816
Google translation
The Russian government until the end of July to decide a loan Iceland – Pankin
Moscow. July 15. . INTERFAX-Afi – The Russian government until the end of July to decide on the granting of credit, Iceland, told journalists Deputy Minister of Finance of the Russian Federation Dmitry Pankin. . According to him, the Ministry of Finance today will make the government their assessment of the macroeconomic situation in Iceland, after which “must be made a political decision, whether to grant a loan, stressed zamministra.. Pankin said that the Ministry of Finance, in assessing the macroeconomic situation in Iceland, noted some improvement. “In the country there has been improvement, the stabilization of the situation compared to last year. To take reasonable measures to reduce the deficit and resolve the external debt” – he said. . However, it remains unresolved the question of the amount of bank debt. “On the whole, maintained a very high level of public debt,” – said on.Ranee reported that Iceland has asked Russia for a loan of $ 500 mln.Islandiya in October 2008 actually experienced a default by the collapse of the banking system (failed three banks, which accounted for 85% of the assets of the banking system), the devaluation of natsvalyuty, offensive retsessii.V November 2008, the IMF approved a loan Iceland $ 2.1 billion in funds allocated to support the program of the government to stabilize the economy and restore confidence in the outcome ney.Po the first quarter of 2009, Iceland’s external debt exceeded $ 100 billion and amounted to almost 850% of GDP. This amount represents the liabilities of three largest banks in the country, which were guaranteed by the Government of Iceland.
it seems SIREURO has lost something back then…. ever read Red Rising Storm (a yankee wrote it) ? :D
That’s why he hates Iceland….
THERE IS MUCH PETROL IN RUSSIAN SEAS AND LAND ITSELF. IT HAS NOT BEEN FOUND ANY CONSIDERABLE QUANTITY OF OIL IN THE DRAGON AREA.
A COUNTRY LIVING ON FISH AND INDUSTRIAL PRODUCTION OF THE METALURGIC KIND ( ALUMINIUM) IS ECONOMICALLY IN THE SAME LINE AS ANY POST-SOVIET REPUBLIC. SUCH IS AN UNDERDEVELOPED ECONOMY IN COMPARISON TO THE TECHNOLOGIC REVOLUTION OF EU, JAPAN, KOREA, AND OTHER COUNTRIES THAT ARE COMING BIG INTO IT LIKE CHINA AND INDIA.
ICELAND HAS NOT A COMPETITIVE ECONOMY AND DEPENDS MAINLY ON TWO PRODUCTS “FISH AND ALUMINIUM”. ALUMINIUM PRICES HAVE DROPPED A 60%, FISH IS A SCARCERING AND ( SINCE THE LAST RESTRICTIONS ADOPTED IN THE PARLIAMENT FOR FISHING ) THE FISH MARKET HAS REDUCED A 30% ITS PRODUCTION. ICELANDERS ARE GETTING TO KNOW THAT FISH IS NOT GOING TO BE FOREVER.
NATURAL RESOURCES LIKE GAS AND OIL IN THE SEA ARE NOTHING BUT SPECTULATIONS AND WE WILL HAVE TO WAIT MANY YEARS TO SEE THE FIRST BENEFITS OF THAT. BUT AT THE MOMENT THERE ARE ONLY POTENTIAL SPECULATIONS.
WHY IS THEN ICELAND WANTING TO GET INTO THE EU ?
Truth :) what you say is so funny. a country ( that important country) middle of USA and Europe will be a 3rd world country ? can you explain us how? so it means all europe has to be a 3rd world blah blah blah. iceland has unlimited energy and power and fish and education :)) haltu afram island
Two Russian research submarines have been just outside of the Icelandic 200 miles North and N-East of Iceland for some time now, 2 nuclear attack subs where supporting then, they seem to be very interested in the Dragon area, who is believed to be rich of oil,
http://visir.is/article/20090716/SKODANIR/857215622
I would much rather get a loan from Russia than the EU, or Britain and Netherlands,
Russia has always been a good ally and friend to Iceland.
WELL, ICELANDERS ARE WILLING TO PLAY WITH ANY WINNING TEAM. BUT TODAY THEY SAID THEY WANT TO APPLY FOR ADMISSION IN THE EU. THAT WILL SURELY MAKE THE RUSSIANS TAKE IT BACK AND DON*T LEND MONEY TO ICELAND.
ICELAND’S ISOLATION FROM THE REST OF WESTERN EUROPE HAS VERY HIGH PRICE, AND NO ONE, NOT EVEN THE RUSSIANS,WANT TO PAY ICELAND’S BILLS IF IT IS NOT FOR GETTING SOMETHING BACK.
WELLCOME TO THE EU, IT IS THAT OR MISERY AND STARVATION
[…] Vedomosti, Assistant Secretary of Treasury in country Dmitry … Originally posted here: Russia approves 64 1000000000 ISK give to island | IceNews – Daily News Posted in […]
Anybody seen the terms of this loan? That’d be very interesting.
[…] Originally posted here: Russia approves 64 billion ISK loan to Iceland | IceNews – Daily News […]
The name of this chapter is “Iceslaves 2”. In the 1st one the business Vikings as they were called robbed from the people and the country collapsed. In this one the 2nd the business Vikings disguised as politicians will steel from other counties. In the next and last the 3rd, nobody will trust or care about Iceland and the nation will officially become a 3rd world county!
Russia has much interest in Iceland for its money laundry no due to its energy resources ;)
Now this loan is in place, Iceland’s parliament will feel more confident about rejecting the current Icesave agreements. Is the timing of this Russian announcement a coincidence?