ASSESSMENTS
Iceland: Financial Crisis and a Russian Loan
Oct 7, 2008 | 20:34 GMT
ERIC FEFERBERG/AFP/Getty Images
Summary
Russia has loaned Iceland $5.43 billion as Iceland's government works to prevent a financial meltdown set off by its banks' involvement in the so-called "carry trade." The loan will help stem Iceland's liquidity problems, but more significantly, it will give Russia the opportunity to challenge the West in an extremely strategic venue.
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