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Banks ask for 18-20% for credit, Iceland the days after country bankruptcy
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by SOLARLIFE | October 28, 2008 at 02:44 am
226 views | 46 Recommendations | 19 comments
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Banks ask for 18-20% for credit, Iceland the days after country bancruptcy
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Iceland in bankruptcy
Will other countries, receiving rescue money from IMF, like Hungary, end up with the same 20% for credit? No shop owner can operate to buy goods on 20% base. The booming construction industry In Iceland for homes will come to a complete stop.
Iceland's central bank has raised its key interest rate to 18% from 12% as the country battles against a complete financial collapse.
The increase comes less than two weeks after it cut rates from 15.5%.
News of the rise came as Iceland's prime minister said the country needed another $4bn (£2.6bn) in loans.
Iceland has been struggling to avoid collapse since it was forced to take over its three biggest banks, which had been hit by the credit crunch.
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Most RecentMost Recommended Comments (19)
at 03:13 on October 28th, 2008
SOLARLIFE, I like this story. It's good stuff.
at 11:31 on October 28th, 2008
Dave thanks for Flag, "Banks ask for 18-20% for credit, Iceland "
at 04:36 on October 28th, 2008
SOLARLIFE, I like this story. It's good stuff.
A domino effect with heartbreaking consequences.
at 11:33 on October 28th, 2008
Maireid....A domino effect with heartbreaking consequences. "iceland credit 18%
at 05:17 on October 28th, 2008
SOLARLIFE, I like this story. It's good stuff.
at 11:37 on October 28th, 2008
Eustaquio thanks for Flag, Iceland credit 18 - 20 %
at 06:58 on October 28th, 2008
Good story, sad news.
Iceland is melting...
at 11:45 on October 28th, 2008
Palestorm...Iceland is melting...18% credit interest rate. I like this one, thanks for Flag and Sidebar chart Iceland goes really down here
at 08:16 on October 28th, 2008
SOLARLIFE, I like this story. It's good stuff.
at 11:38 on October 28th, 2008
Tina...Iceland credit 18%, thanks for Flag
at 08:43 on October 28th, 2008
SOLARLIFE, I hope the financial system doesn't completely crash there.
at 11:42 on October 28th, 2008
amyjudd....I hope the financial system doesn't completely crash there...Iceland. I wonder what all the high paid guest workers are doing now in Iceland. Do they still get paid, with the housing market dependent on 18% credit rates. Or do the Iclanders find other financing, I doubt.
at 12:02 on October 28th, 2008
Sounds like the Presdent Carter era. The Dow is up 650 today. They call it volatility, which means vastly unstable. Excuse me, UP 890. Having a metaphor shortage here.
at 12:10 on October 28th, 2008
Fairbanks, DOW up 890, unstable speculation conditions. Germany had many hedge funds today speculating on Volkswagen down. They lost actually Volkswagen went up announcing to cut work, no demand. No logic the institutional hedge funds speculate to new crisis computer programs, to suck the rest of the citron. A new economy, to justify buy/sell I don't see one. The Yen japan economy does not convince me for more than 2 days gaming. Thanks for Flag much appreciated.
at 12:23 on October 28th, 2008
Just watching here, watching the speculators suck the citron. Thanks.
at 12:59 on October 28th, 2008
SOLARLIFE, I like this story. It's good stuff. Wow. Communism is taking over.
at 13:20 on October 28th, 2008
panzerlawyer...Wow. Communism is taking over. ....."Banks ask for 18-20% for credit, Iceland"....Well the right people in place, world socialist Strauss-Kahn IMF has for sure no problem to turn his bancruptcy of The IMF Int'l monetary Fund into a world saving IMF junk fund currency. We have then all to work for IMF junk bonds, good slaves as we are for the good Old boys network.
at 13:25 on October 28th, 2008
SOLARLIFE, I like this story. It's good stuff.
at 13:42 on October 28th, 2008
Rhonda, thanks for Flag "Banks ask for 18-20% for credit"