The Icelandic Foreign Minister Steingrimur J. Sigfusson today had a meeting with Dmitry Pankin, the Russian assistant finance minister. At the meeting the possible loan to Iceland was discussed. “This was a good meeting and in very friendly spirit,” Sigfusson said. According to MBL.is Sigfusson did not want to talk about the results of the meeting with Russia, but he expects them to release a statement tomorrow where they announce their stand on the matter.
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I told you many times before – Russia is not in the position to lend money. And even have to borrow soon. To make people feel better – Russia declined 5 bl loan request from Ukraine. :-) Had to…
Google translation
http://www.minfin.ru/ru/press/press_releases/index.php?id4=8287
Russia has been hit hard by the recession, remember the stock market crash, they are not in a position to lend anything to anyone, plus they have other problems as well,
http://www.guardian.co.uk/business/2009/oct/12/russians-grippped-by-youtube-video
many countrys are in a poor state, if i was a betting man i would bet the next country to crash will be USA, then UK and Ireland, the Russians will claw their way out of the hole they are in some how.
I don’t doubt that Russian economic situation has cut their willingness to lend any money.
However, if they ever read how Icelanders regard paying back loans (“its an investment – you knew the risks when you gave us the money”), guarantees (“we’ll try, but Iceland comes first”) or basic maths (“compound interest? x is for addition”) then they probably realised that it would be a grant rather than a loan and a bad investment for the expected return.
>Will Russia loan Iceland money?
Apparently not:
http://www.forexyard.com/en/reuters_inner.tpl?action=2009-10-14T165012Z_01_LE726288_RTRIDST_0_RUSSIA-ICELAND-UPDATE-2
They should take a loan from Israel, just to get the EU really cross. It’ll be funny.
OK, JUST TO SHOW THE PICTURE IN FEW SENTENCES:
1. ICELANDIC POLITICS IN INTERNATIONAL AFFAIRS IS JUST CRAP DONE BY TOTALLY INCOMPETENT PEOPLE. THEY TRY TO KEEP PLAYING BUT THEY DENY TO TAKE RESPONSIBILITY AND ACT LIKE A MATURE COUNTRY.
2. NO ONE IN THE WHOLE WORLD TRUST ICELANDERS FOR MONEY ANYMORE. THEY DON´T WONT TO PAY WHAT THEIR BANKS STOLED FROM HUNDREDS OF THOUSANDS OF WORKERS AND HONEST SAVERS AROUND THE WORLD.
AND NOW, BEING SAID THE ABOVE… WHO IN THIS WORLD WOULD LEND THIS PIRATS SOME MONEY? WHO WOULD EVEN DREAM ABOUT THEM PAYING BACK??
I FEEL SORRY FOR ICELAND. THIS COUNTRY HAVE MADE HUGE MISTAKES, HAVE NOTHING DONE BUT REJECT THEIR RESPONSIBLITIES, AND NOW THEY WANT HELP. NO ONE IS GOING TO WASTE THEIR MONEY IN THIS COUNTRY. SPECIALLY WHEN EVERYONE KNOWS THAT FOREIGN INVESTORS ARE JUST WAITING TO GET THEIR MONEY OUT OF THE COUNTRY.
ICELAND IS REALLY RUINED. THE OWE SO MUCH MONEY, AND THE ONLY MONEY THEY HAVE ( SITTING STILL IN ICELAND) IS NOT EVEN THEIRS, BUT INVESTOR´S MONEY…
CLOSE TO ONE YEAR SINCE THIS COUNTRY WENT INTO BANKRUPT THERE NOTHING REALLY THAT HAVE CHANGE OR REPAIRED ANYTHING.
-THE RESPONSIBLE FOR THE FRAUD HAVEN´T BEEN CAUGHT, NOT EVEN PERSECUTED.
-THE NEW GOVERNMENT HAVE TURNED INTO AN OLD COMMUNIST TYPE OF RULING REDUCING IMPORTS, PROMOTING THE CONSUME OF INNER PRODUCTS AND SPECIALLY ASFIXIATING ICELANDERS WITH NEW AND MORE TAXES.
ONE YEAR IS GONE, ICELANDIC ECONOMY GETS WORSE AND WORSE AS EVERY WEEK PASSES…
THE EUROPEAN CENTRAL BANK HAS NOT A PRICE FOR THE ICELANDIC KRÓNA SINCE THE 3RD OF DECEMBER 2008!!!
DON´T YOU GET IT??
GET INTO THE EU WHILE THEY STILL WANT YOU… OR BEGG TO YOUR NORWEGIAN NEIGHBORS, LETS SEE IF THEY SHOW SOME PITTY…
“The Russian and Icelandic delegations have failed to reach an agreement on a loan to Iceland but consultations will continue, the Russian finance minister said Sunday.”
“release a statement tomorrow where they announce their stand on the matter”
Anyone know if the statement revealed anything material? Or just a confirmation that they’re still “in very friendly spirit”?…
Well… “Russian loan” is as solid as Northern Lights. High in the sky….
See Google translation:
http://www.minfin.ru/ru/press/speech/index.php?id4=8226
“Russia and Iceland have not yet agreed on a loan – Kudrin
Istanbul. October 5. Interfax – Russia and Iceland have not yet agreed on a loan and will continue to consult, said Deputy Prime Minister – Finance Minister Alexei Kudrin.
“We continue to consult,” – he told reporters in Istanbul on the basis of a bilateral meeting with the Minister of Finance of Iceland Stayngrimurom Stigfussonom.
In his words, issues relate to the economy of Iceland. Kudrin also said that continuing collection of data and documents. ”
PS. Easy, I choose “very-very” option ;-)
“It’s looks like a game by Steingrimur with British and Dutch counterparts “See? I met with Russians! And we have many other friends! You see?”
Totally agree with you(and the hole world knows this), and the most incredible thing about this, is that they played this exact game last year, and didn´t work AT ALL!!! so, either they are stupid(goberment) or they are very very stupid, there are only this two options.
Iceland went to this IMF meeting just to cry to every coutry possible for some money, literally to beg, like a prostitute offering herselfe to everybody arround, Steingrimur is there just like this kids in impoverished countries(and I mean empoberished for longer than we have been, we are heading that way)begging for money at the corners, but he is doing it at the doors of the confrence halls.
It is the same EUR 500m. Per MBL, no agreement yet.
“”Negotiations continue,” the Russian news agency RIA Novosti by Kudrin.”
Sorry, forgot to add great post! Can’t wait to see your next post!
Looks as it’s not as simple as this, MBL.is reported that there is nothing on the table, says Alexei Kudrin. So is there a loan or not? What is this news all about?
It’s a weekend – so no updated info on the site of Russian Ministry of Finance. Let’s see what they publish on Monday…
But I doubt. It’s looks like a game by Steingrimur with British and Dutch counterparts “See? I met with Russians! And we have many other friends! You see?”
It is the same EUR 500m. Per MBL, no agreement yet.
“”Negotiations continue,” the Russian news agency RIA Novosti by Kudrin.”
Out of the goodness of their hearts!
To Bromley86:
>>>>Is this the same EUR 500m loan announced a while back?
Yes. Clearly its going to be on again, off again, with them for few rounds until we found out the final result.
Is this the same EUR 500m loan announced a while back?