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davidg

Iceland (The Country) Manages A Bond Issue

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„This transaction is an important milestone for Iceland“, says Finance Minister Steingrímur J. Sigfússon. „I am extremely pleased that Iceland has regained access to the capital markets only two and a half years after the onset of the financial crisis.

http://www.bonds.is/Assets/news/Euro-dollar%20issue.pdf

ok they are Euro/Dollar bonds not Krona.

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As I called.. a few months after a nation goes bankrupt, the creditors will be lining up to lend them money. Happens everytime.

That is why this big threat of if you don't pay up, you will be locked out of the credit markets for ever is so hollow. Nations like Argentina default about once a decade, and every time the banks eagerly lend them money soon afterwords.

The banks think about it this way. They borrow money at the interbank rate of say 0.7%. They lend it out to an Iceland at say 5%. They make profit all the years until Iceland defaults again. With generous bonuses to go around each year. Then when Iceland defaults the loans are written off. Its why I have been saying in Greece's case 100% they should default UNLESS, the EU offers them very, very large amounts of money each year to not default. Which is exactly what is happening.

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  • 311 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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