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“Mr Haarde said that there were practical limits to what his Government could pay.”
Is that a “promise to pay Guarantee” ??
Its not, not even in the language of Scottish economics.
Peter (Germany)
James, the postcode IS real. But will be easy to find out what really has happened in the relationship between Iceland and Britain. After all, there is a Freedom of Information Act which gives you access to what has happened inside the grey large buildings of Whitehall.
Actually, I do believe the letter is for real. Yet, I also believe that given the set of circumstances and given the imminent danger to British assets the British government did at least a case. Certainly, there should have been more communication, clearer statements and less panic in the talks between Iceland and Britain.
The opinions and “facts” reported in the Icelandic and international media on the current situation in the Icelandic economy have been almost as varied as the opinions and “facts” expressed on online public comment forums over the last few days.
The only real fact we know is that nobody really knows what’s going on just at the moment. And there’s the disturbing realisation dawning that this might also include some of the people we’re all looking to for answers.
The IMF has delayed its decision on Iceland’s USD 2.1 billion loan request yet again. This time apparently because they want Iceland to secure the remaining four billion of its desired six billion before they approve it – despite already knowing full well that other potential lenders are holding their money back until the IMF approves their loan.