Lehman investbank fell

[snow_flake]

World economy will probably go backwards after the 4. biggest invest bank in US is bankrupt. How will this influence long distance relationships you think?

[Lucker]

Insiders have known about this for weeks and the official announcement was given clear advance notice .
So, unless the Federal Bank has suddenly gone barmy , they were well prepared and will presumably have made a total market assessment since , at minimum, the troubles of Freddie and Fannie were announced .
From the start they have given no indication that they will bail out Lehmanns --- though Barclays pulling out of a rescue deal might not have been in the plot .
My guess is that the Feds assess this as the last really big bank to go under and that the market will absorb matters . Some rescue operation is certain when the patient finds its true cost takeover price .
The markets will herald doom and gloom for a few days but will then recover , dependent on there being no other bad adverse news . imo .

[snow_flake]

I dont believe more banks will broke down either, Ramon. Rest of them will probably do as government tell them to do - at least for a while.

What i was asking about members opinion was - world economy will probably slow down even more and maybe go backwards. This mean less money to spend for those who is not filthy rich then. And less netto income means ppl cannot travel so much for seeking second half and bla bla bla.

[Lucker]

What i was asking about members opinion was - world economy will probably slow down even more and maybe go backwards. This mean less money to spend for those who is not filthy rich then. And less netto income means ppl cannot travel so much for seeking second half and bla bla bla.[/QUOTE]

Am not yet convinced of this scenario until I hear it both from Warren Buffet and Alan Greenspan .
The key to matters -- and I am an Economics layman - are inflation and unemployment .
I was under the impression that inflation is buttoned to a ceiling which is not at a disaster level and is largely a function of energy and food prices .Presently crude oil is down 33% from the high of a few weeks ago and world grain harvest indicators are OK .
Fingers crossed here .
As regards employment , I thought the last US quarterly figures were surprisingly good which is encouraging . Germany , Spain and the UK are technically in recession . But this only means they have recorded two successive quarters with negative growth-- not in itself an end of the world scenario .
I am far from blase and one or two extra bankruptcies from International institutions and bad sets of figures will make any attempted forecast look silly .
But we can scrape through if we stop bickering badly , e . g . Iran and Syria All imho

[huney]

Greenspan has spoken

http://www.breitbart.com/article.php?id=080914181841.fsmkqu8s&show_article=1

Bank of America's purchase of Merrill Lynch will likely mitigate the market fall today, but AIG's situtation is shaky. If the big insurers start failing, and they may due to their exposure to the investment bank failures, we will be in for some very sobering times.

Bloomberg says Berkshire Hathaway is in talks with AIG which has been reported as approaching the Fed for an additional $40b in short-term funding.

http://www.bloomberg.com/apps/news?pid=20601087&sid=asXKpmxEf1.o&refer=home

IMO, should Russia and/or China start dumping their holdings in US securities, we could take a very hard beating.

Purely fallout from shutting down the refineries in the Gulf of Mexico in preparation for Ike, but gasoline (petrol to you) was selling here for over $5 a gallon Saturday afternoon - up from $3.65 Friday night.

BTW - Don't take the reported unemployment figures too seriously. When people give up looking for work they often drop out of the statistics.

[Lucker]

Don't like the bit about " if the big insurers start failing .... "
Liquidity lies in Russia, China and Asia . Wonder if we/you will have to go cap in hand at some point .
OMG

[beezneesman]

I think it's rather amusing that the world outside the USA has been treated to regular lectures from Americans over the years about the evils of socialism and the welfare state etc but when the solids hit the air conditioning over there what's the first thing that happens they're crying for state support (e.g. airlines since 911 and 'Frannie' since the credit crunch).

I presume we won't be getting any more homilies about capitalism being red in tooth and claw anymore - unless it's the 'red' of socialism?

[huney]

Don't like the bit about " if the big insurers start failing .... "
Liquidity lies in Russia, China and Asia . Wonder if we/you will have to go cap in hand at some point .
OMG

Exactly.

Think about Russia's reduction of its holdings in Fannie & Freddie - by about 40% this year from $100b January 1 - and what role that action may have played in complicating F&F troubles to the point where the government was forced to bail them out.

Imagine the day Russia dumps all at once. China and India might sell off early just to minimize their losses. Everything goes screaming downhill from there.

Total Western nightmare and Putin's wet dreams come true.

[huney]

I think it's rather amusing that the world outside the USA has been treated to regular lectures from Americans over the years about the evils of socialism and the welfare state etc but when the solids hit the air conditioning over there what's the first thing that happens they're crying for state support (e.g. airlines since 911 and 'Frannie' since the credit crunch).

I presume we won't be getting any more homilies about capitalism being red in tooth and claw anymore - unless it's the 'red' of socialism?

Please do not include all Americans in the 'crying' bit. IMO, the federal government should never have bailed out any company. It is simply not within their purview.

[Lucker]

I am well aware of the End of the World scenario and for the last two years I have been driven mad by a guy who has obsessively argued that corner in another forum . Very clever guy even though I hated him .
I took a more moderate line as per current situation - approx .
Although it makes fun speculation to see one or more of Russia , China and Asia , letting us go over the cliff , I think we are all too interlinked and interdependent financially for this to happen .
The big worry over here is the level of personal debt . It is huge .
I saw through that one five or six years ago and have never since used credit .
But that is not much comfort if jobs go , inflation taskes off and small savings disappear at a fast rate of knots .

[snow_flake]

Exactly.

Think about Russia's reduction of its holdings in Fannie & Freddie - by about 40% this year from $100b January 1 - and what role that action may have played in complicating F&F troubles to the point where the government was forced to bail them out.

Imagine the day Russia dumps all at once. China and India might sell off early just to minimize their losses. Everything goes screaming downhill from there.

Total Western nightmare and Putin's wet dreams come true. Should have give u a thumbs up, but the scenario is to scary:(

[huney]

The big worry over here is the level of personal debt . It is huge .
I saw through that one five or six years ago and have never since used credit .
But that is not much comfort if jobs go , inflation taskes off and small savings disappear at a fast rate of knots .

I was fortunate enough to have dumped credit almost 20 years ago. There is a small mortgage on the house I bought at about the same time, but I count myself in good shape there; low interest, payments half the cost of renting, and no plans to sell.

What is more worrisome on a personal level is my pension plan. Its invested in global stock markets - both directly and indirectly through mutual funds. Before you jump all over me for that decision...There were no other options...if I'd had a choice I would have moved it to Treasuries and Municipal Bonds two years ago.

So much for that cozy retirement by the Mediterranean :crybaby:

[kentuckydan]

It's weird day economically Oil dropped to $94 a barrel for a short period and is now $97?

Just think what it must be like to be holding a future position at 140, 120 or even 100?

Gives me a warm feeling to think on it

[Hoopy]

I thought that after all work has stopped in the gulf of Mexico that the price would be back up about 120.

[statajack]

The whisper about AIG bothers me just as much, if not more than the major banking institutions having problems.

The insurance industry is by very nature in a lot of areas rather conservative and prudent in its risk profiling. It is also one of the last resorts for the financial institutions to acquire "cover" in times when things are not good. AIG is a major global player both in the retail and wholesale insurance markets, and asking for $40billion of help may well indicate that it is sailing mightily close to the statutory minimum solvency margin required to maintain a licence to conduct insurance business. This "last civilised resort" area is therefore also under fire. I really hope it doesn't end up with the administrators marching in.

[huney]

The whisper about AIG bothers me just as much, if not more than the major banking institutions having problems.

The insurance industry is by very nature in a lot of areas rather conservative and prudent in its risk profiling. It is also one of the last resorts for the financial institutions to acquire "cover" in times when things are not good. AIG is a major global player both in the retail and wholesale insurance markets, and asking for $40billion of help may well indicate that it is sailing mightily close to the statutory minimum solvency margin required to maintain a licence to conduct insurance business. This "last civilised resort" area is therefore also under fire. I really hope it doesn't end up with the administrators marching in.

They have already lowered the standards for emergency loans from the Fed to the level of accepting junk bonds as collateral. I pray not!, but the insurance industry minimum solvency margin could be next.

http://www.nytimes.com/2008/09/15/business/15fed.html?hp

[alpine-frolic]

It seems Wamut is having some problems now.
In France Calyon, Natixis, Société Générale ...

[alpine-frolic]

I thought that after all work has stopped in the gulf of Mexico that the price would be back up about 120.

I think few chances for energy to reach new record, deflation is here.

[Lucker]

Listened to a specially convened Forum on BBC 4 tonight .
Sounded like meltdown is 50:50
They felt it was the end of an era and I am afraid the US got the thumbs down .
It surprised me to hear how solemn these big players were .
I am getting my head down and saying very little from now on .

[huney]

I am getting my head down and saying very little from now on .

I'm taking bets you can't :becky:

[Lucker]

I meant on that Topic .

[huney]

Gotcha!

Pay up guys. :becky:

[beezneesman]

Listened to a specially convened Forum on BBC 4 tonight .
Sounded like meltdown is 50:50
They felt it was the end of an era and I am afraid the US got the thumbs down .
It surprised me to hear how solemn these big players were .
I am getting my head down and saying very little from now on .

There goes the world's shortest-lived empire. If you blinked you missed it.

Interesting times eh! ;-)

[huney]

The news today on AIG isn't looking any better.

http://news.yahoo.com/s/nm/20080916/bs_nm/aig_dc_22

What are your thoughts on impact to global markets if AIG goes under?

[1amongmany]

The news today on AIG isn't looking any better.

http://news.yahoo.com/s/nm/20080916/bs_nm/aig_dc_22

What are your thoughts on impact to global markets if AIG goes under?

my guess is that it will be twice as bad as the Lehman effect....I think AIG is more global and directly affects the middle class

another thought is can the US government handle bailing out AIG?

[huney]

my guess is that it will be twice as bad as the Lehman effect....I think AIG is more global and directly affects the middle class

another thought is can the US government handle bailing out AIG?

That is what I was thinking. Just how much more money can they print before they make ours worthless? We are traveling a very slippery slope here.

[beezneesman]

That is what I was thinking. Just how much more money can they print before they make ours worthless? We are traveling a very slippery slope here.

If they are going under they should not be rescued. Survival of the fittest should be the guiding principle.

[huney]

If they are going under they should not be rescued. Survival of the fittest should be the guiding principle.

Exactly. There is no example outside of nature where that principle is more deeply rooted.

[1amongmany]

If they are going under they should not be rescued. Survival of the fittest should be the guiding principle.

I believe the government will be expected to

[Lucker]

Escuse me you budding financial geniuses
Automatically not supporting a failing Giant could guarantee bringing down the whole deck of cards .
Your system works fine if brought in from the outset of a market , say .
But to change the rules part way , risks the loan spread affecting other markets and even other parts of the world .
We would have total melt down in a week if we followed your proposal .

[beezneesman]

Escuse me you budding financial geniuses
Automatically not supporting a failing Giant could guarantee bringing down the whole deck of cards .
Your system works fine if brought in from the outset of a market , say .
But to change the rules part way , risks the loan spread affecting other markets and even other parts of the world .
We would have total melt down in a week if we followed your proposal .

Don't you want to revel in and embrace the chaos to come? ;) I fully intend to enjoy the interesting times ahead, things need spicing up a bit in my opinion.
Chaos and disorder on the streets will be great fun. Personally I can't wait, there may even be some glorious opportunities for some score settling if anarchy really does ensue.

[1amongmany]

becoming Omish is looking pretty good right about now :rolleyes:

[beezneesman]

becoming Omish is looking pretty good right about now :rolleyes:

Apart from that whole 'in-breeding' thing they've got going! I don't really feel like growing extra toes or another head :)

[snow_flake]

Stockmarket fell 4 percent yesterday and 8 percent today. And to use the words for Churchill, this is only the end of the beginning:(

[Lucker]

Captain Beeswax
I need to buy a couple of guns
I am told that you can buy good stuff in Czechoslovakia . When you buy , do they demand your Passport and somehow mark it for later Border Control examination ?
I would loathe an unexpected holiday .
Please send details .

[rainy-day]

i worked some years ago in a borker's company and i still have friends there. yesterday a friend told me, the stock is really bad, that everyone is loosing money, that there are no transactions made.

i feel a big crise coming. as the one in the 30s, even i hope this is not going to happen.

[Lucker]

We have been privileged to listen to George Soros this evening -- one time buddy of Vlad the Bad and the excellent Boris Berezovsky .
He is the man who took on the Bank of England and beat it .
His view is dire . OMG

[huney]

Where? Is there a transcript?

This man is phenomenal.

[beezneesman]

Captain Beeswax
I need to buy a couple of guns
I am told that you can buy good stuff in Czechoslovakia . When you buy , do they demand your Passport and somehow mark it for later Border Control examination ?
I would loathe an unexpected holiday .
Please send details .

Just buy as many AKs as poss in Czech and slip a few quid to the customs guys at Dover on the way back. No problem

ROFL

See you in 10 years:rolleyes:

[statajack]

As Ramon has pointed out, George Soros just been on BBC's Newsnight.

He seemed fairly convinced that Governments will step in to protect, quote "the system" before it gets too bad. But he did briefly mention the 1930's crash, and the words "meltdown" and "crisis" once or twice, with a gloomier reference to the UK and it's overexposure to the finance industry.

The question of course, which seemed unanswered to me, is when will a Government prop actually step in.

[huney]

I've found it and have been listening. Thank goodness for the BBC webcast. Their references to the Bloomberg news on AIG conservatorship is troubling...

[huney]

Captain Beeswax
I need to buy a couple of guns
I am told that you can buy good stuff in Czechoslovakia . When you buy , do they demand your Passport and somehow mark it for later Border Control examination ?
I would loathe an unexpected holiday .
Please send details .

You might try the markets in Pakistan :rolleyes:

[kentuckydan]

I thought that after all work has stopped in the gulf of Mexico that the price would be back up about 120.

Well refineries representing 30% of the US gasoline supply are off line for a shortime.

Now while that might increase domesitc gasoline supply and prices, think what it does to international demand for crude oil?

[kentuckydan]

i worked some years ago in a borker's company and i still have friends there. yesterday a friend told me, the stock is really bad, that everyone is loosing money, that there are no transactions made.

i feel a big crise coming. as the one in the 30s, even i hope this is not going to happen.

Just to give things a Historical perspective

Dow Jones Industrial Average Jan 1992 to Sep 2008 (http://moneycentral.msn.com/investor/charts/chartdl.aspx?PT=11&showchartbt=Redraw+chart&compsyms=&CA=1&D4=1&DD=1&D5=0&DCS=2&MA0=0&MA1=0&CP=1&C5=1&C5D=20&C6=1992&C7=9&C7D=16&C8=2008&C9=-1&CF=0&D7=&D6=&symbol=%24indu&nocookie=1&SZ=0)

I chose to graph the DOW from the Clinton Inauguration to now

[snow_flake]

They now believe gas price will fell to ca 70 usd. Of course a bit bad for Norway at one site, but i think this will be a blessing i we see it in a longer period.

[kentuckydan]

They now believe gas price will fell to ca 70 usd. Of course a bit bad for Norway at one site, but i think this will be a blessing i we see it in a longer period.

Snowflake? Will it be BAD for Norway? Or just not as lucrative as $140/barrel?

I realise that Oil Producing Nations like Norway reaped tremdous benefits from the spike in Oil Prices and I by no means find them at fault, but will the drop cause any hardships for your Nation?

One of the reasons I ask is because I read an article a while back but darn it cannot find the source now, which said that if Oil dropped back down to the 80 to 90 dollar range
Which it might be on the verge of

Russia WOULD suffer grave financial consequences,

[snow_flake]

Snowflake? Will it be BAD for Norway? Or just not as lucrative as $140/barrel?

I realise that Oil Producing Nations like Norway reaped tremdous benefits from the spike in Oil Prices and I by no means find them at fault, but will the drop cause any hardships for your Nation?

I guess there will make very little difference here in fact. If i tell in a " bit easy way" as i have told earlier we put much of oil money in a big fond ( became lesser in the past :becky:) because politicians here 1) Dont want to use to much money because of fear for inflation and 2) this is also a fonf who shall pay our pensions, health care and so on and 3) we think aboutnext generations.

Norway dont have any debts, so i guess there we we dont feel it so much if prizes goes down.

But in fact Dan, prices of appartments / houses are now falling here, and its become more expensive to have loan. And some of the municipalacies here bought rotten financial "packets" from companies like Lehman years ago - they lost much money there earlier this year.

So we hope thing will become more normal in US as fast as possible, it was therefor i posted my opinion about lower oilprize will be better for us if we see this in a longer period

[huney]

Just to give things a Historical perspective

Dow Jones Industrial Average Jan 1992 to Sep 2008 (http://moneycentral.msn.com/investor/charts/chartdl.aspx?PT=11&showchartbt=Redraw+chart&compsyms=&CA=1&D4=1&DD=1&D5=0&DCS=2&MA0=0&MA1=0&CP=1&C5=1&C5D=20&C6=1992&C7=9&C7D=16&C8=2008&C9=-1&CF=0&D7=&D6=&symbol=%24indu&nocookie=1&SZ=0)

I chose to graph the DOW from the Clinton Inauguration to now

Dan
From an historical perspective, what are your thoughts on Reserve Primary's money market fund going south? Both Vanguard and Fidelity called today to explain how secure they are. It was beginning to sound as though they doth protest too much.

http://www.marketwatch.com/news/story/money-market-fund-breaks-buck/story.aspx?guid=%7B56A2CEE5%2D5A53%2D4A27%2DA4BA%2 D585CFBE173A4%7D&dist=hplatest



This is only the second time that a money market fund's net asset value has dipped below $1. In 1994, Denver-based Community Bankers U.S. Government Money Market Fund returned 96 cents on the dollar to investors when bad derivatives investments forced it to liquidate.

[snow_flake]

Well, then Lehman brothers are history, AIG is a sibeling - but will live. Another again lives further in different shapes. I see in news that pres. Bush i desperation want to give other 700 billions USD to save american economy - and want to discuss this with McCain and Obama. For me - in my political standing - i of course support this act in the big scene. But i believed Bush administration was against federal interaction into the market. So i have to tell it pleases my heart a bit to see them realize they was wrong - and realize that capitalism in the shape we have seen it the latest year has failured. I also hope the new president will take actions to regulate this into a more normal way so ordinary americans have to suffer because of the enormous greediness we have watched thelatest years. So dear members - what do u think? What will next president have to do - except of paying the dept the former made?

[kentuckydan]

VgctSIL8Lhs

[Voobrazheniye]

VgctSIL8Lhs

Very interesting. Proof once again that Barney Frank has NO BUSINESS being in the Congress. He is one of the biggest buffoons ever in the U.S. government.

[colomoda]

I wouldn't worry too much about world economics - Your job is to look at the bright side of life (let's the nerds do the economic job :p) Let time I check, we aren't in 1929

[kentuckydan]

Burning Down The House: What Caused Our Economic Crisis?

H5tZc8oH--o

The Roads Must Roll, Along With a Few Heads (http://biglizards.net/blog/archives/2008/09/the_roads_must.html)
Here is the bailout problem in a nutbag. There was indeed a deal before John S. McCain arrived... a completely bicameral deal between House Democrats -- and Senate Democrats. The deal also included (evidently) the White House; and the Senate Republican conference climbed aboard the bandwagon.

The outlines of the deal were that President George W. Bush gets the Paulson-Bernanke emergency rescue plan -- and the Democrats extort a number of their domestic welfare programs

A secret, back-door restoration of the ban on shale-oil development, which Majority Leader Harry "Pinky" Reid (D-Caesar's Palace, 85%) tried to sneak into the rescue bill;

A "housing trust fund" that would funnel taxpayer money to ACORN and other radical groups;


and what may you ask is ACORN?

Testimony on ACORN's Voter Fraud (http://www.marketwatch.com/news/story/crl-testimony-acorns-voter-fraud/story.aspx?guid=%7B573B31D0-6AB7-4353-B8E7-91300F4DFF81%7D&dist=hppr)


WASHINGTON, Sept 25, 2008 /PRNewswire-USNewswire via COMTEX/ --

James Terry, Chief Public Advocate for the Consumers Rights League,

today testified at a joint House Administration and House Judiciary Committee oversight hearing on "Federal, State and Local Efforts to Prepare for the General 2008 Election,"

where he highlighted "corruption at every level of ACORN including embezzlement, cover-ups, misuse of taxpayer funds and voter fraud."

An excerpt of his testimony follows:

James Terry, Chief Public Advocate, Consumers Rights League:
"ACORN routinely says it will clean up its act. Yet, given its decade-long history of voter fraud, embezzlement, and misuses of taxpayer funds, ACORN's pattern of fraud can no longer be dismissed as a series of 'unfortunate events.'

"The problem of voter registration fraud raises serious questions for this committee, and the Consumers Rights League appreciates that the right questions are being asked.

"Here are the most important questions right now: We know about the thousands of potentially fraudulent voter registration cards turned in by ACORN and caught by officials. But given the size of ACORN's efforts and the fact that the abuses appear to be systemic, we believe it is fair to question how many more fraudulent registrations have not been discovered, Furthermore, as this mega organization with a decades long history of violating the law is turned to get out the vote efforts, we believe it is fair to question how many fraudulent registrations may lead to fraudulent votes or what other activities they are willing to undertake to influence the election.

continued

[snow_flake]

Can a whole country go bankrupt???????????


Translated from norwegian :
ISLANDS STATSMINISTER: Prime Minister ISLANDS:
- Vi kan gå konkurs - We may go bankrupt

The crisis in the Icelandic economy is precarious. The country's prime minister has held this evening speech to the people how he will notify that country's economy could collapse.





Islands Prime Minister Geir Haarde leave nothing in between when he sent a TV speech Monday evening spoke about the banking crisis in the country.

Icelandic authorities promote Monday evening forlsaget about a law that will provide opportunity to intervene to banks - in practice they ensure a kind of control over them. The authorities may, according to Reuters news agency, test any sales, mergers and decisions about the bankruptcy action.

All Icelandic banks were suspended from the Reykjavik Stock Exchange earlier today.

Government party and the opposition have worked together on bill, which may mean that the government will take over mortgages from banks and combine them into a state fund, in an attempt to help the desperate in bolignød Icelanders.

Media Contact for the Icelandic government Urdur Gunnarsdóttir told E24 that the parliament is united and will try to adopt the law Monday evening, but when they are expected to be finished, she will not say.

Do not know if they can save banks

According to Haarde to the crisis in the worst case be so serious that the government will be unable to save the banking sector.

It is too risky for Iceland as a nation to provide banks a livline. Therefore, it is a real possibility that the Icelandic economy can go to shallow with the banks under the weight of the wave that is now flushing into the country, "he said in the speech.

Later, the Prime Minister presented the proposal for parliament in Iceland and said the economy would collapse if the proposal was now set out in life.

We face a situation where we can be gone into in the global banking crisis and end up as a national Insolvency, "he told the delegates.

Haard emphasized that things happened fast. As recently as Sunday evening as it appear that banks could keep on as normal, but during the day this morning and things have changed completely, he continued.

Are no alternative

Main economist in Sparebanken Møre Inge Furre, is something overwhelmed when he gets to hear what Prime Minister Haarde said tonight.

When E24 ask what a country do if they are not able to rescue the banking sector, he replied that the question he had never thought he would get.

- Man har jo ikke noe reelt alternativ for å holde hjulene i samfunnet igang. - You have no real alternative to keep the wheels in the community started. I can not say I have ever seen something similar, "he said to E24.

He would not speculate what happens there at moment, but said it may need international help. Many have been critical of the Icelandic banks for a while, but this was the well that no one had foreseen, he continues.

The krone fell 30 percent
The Icelandic crown lost Monday over a quarter of its value in relation to the euro, and it is the lowest level ever.

For banks on sagaøya, among other things, this means that there are significant cost to finance more foreign loans, write børsen.dk.

Unsuccessful redningsaksjon
Last week was the third largest bank Glitnir, rescued by the Icelandic state that bought 75 percent of the shares for 600 million euro
Kaupthing, which is the country's largest bank said then that they were in a completely different situation than Glitnir, and would not have problems with liquidity ahead. And this was repeated as recently as Sunday. But the state's intervention in Glitnir calmed not speculate on kredittmarkedet, and the prices of credit insurance went up for Glitnir, Kaupthing and Landsbanki.

Do not state has enough muscles
Three days ago, said the head of the interest rate and credit group in Carnegie Herleif Håvik to E24 at the islandkse state is not big enough to save bankvesenet on the island.

He pointed out that the Glitnir alone is 2.5 times larger than GDP islands.

Could have major consequences
A breakdown on the Island will have consequences across Europe as the country's largest banks have invested in big banks and other companies in many countries, the NTB.
They include Kaupthing major owner of shares in Storebrand.

See also:
The market believes the Icelandic banks fall
Nordea world of Kaupthing
Icelandic kroner fall as sten
The conflict with Alfa Group continues, but Telenor is open to a discussion about to take over the shares in Kyivstar. Read more
Norway should save Iceland from collapse?


ISLAND in crisis:
Island-loans not in the box
The Icelandic central bank should have exaggerated the agreement on government loans from Russia. Read more
HALVORSEN: Opens to help Island
LANDSBANKI: : not serve its debt as agreed
ISLAND: The state takes over damage cut Landsbanki
Island borrows money by the Russians