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Article "Iceland has evolved into a sovereign hedge fund."

davej · 2008-05-17 23:50:25

This is serious shít, speculators are basically trying to take the Icelandic banking system down - http://www.telegraph.co.uk/money/main.jhtml?xml=/money/2008/05/17/cniceland117.xml They've raised their interest rates to 15.5%. Looks like a major depression is going to hit them davej

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18-05-2008 12:50am

#1

davej

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This is serious shít, speculators are basically trying to take the Icelandic banking system down -

http://www.telegraph.co.uk/money/main.jhtml?xml=/money/2008/05/17/cniceland117.xml

They've raised their interest rates to 15.5%. Looks like a major depression is going to hit them

davej

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#2 18-05-2008 2:38am
Bob the Builder

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By the looks of things, the banks problem is the least of their worries. Financial debt 5 times greater than the economy...

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#3 18-05-2008 7:31pm
nesf

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davej wrote: »

This is serious shít, speculators are basically trying to take the Icelandic banking system down

From the sounds of it the speculators are more pointing out to the Icelandic banking system that they're ****ed rather than it being an attempt to bring down a stable banking system.

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#4 18-05-2008 9:09pm
daveirl

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This post has been deleted.

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#5 19-05-2008 11:50am
portomar

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this kind of thing is one of the many reasons ireland should be in the single currency.

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