Thursday, July 2, 2009


Ever since the crisis in Iceland started and she was practically bankrupt, I was particularly concerned as I found they had a geographically delicate and strategic position. Russian proximity was one of the leading factors in my approach to such a far away problem.
Back then, I got in touch with some key figures in the Icelandic government, mostly from the Finance Ministry, trying to see what could be done.
As it happened, in the aftermath of an interview that I realized iwith of one of the leading bankers of the Emirates, I even sounded him out to see if they might have been interested in investing in Iceland -and maybe save her. But, my interlocutor clearly told me "it was way too far away." So I had to abandon the idea as shortly there after the global crisis worsened.

Today, the IMF is encouraging Iceland Central Bank to use rates to boost her Krona, and that may well give some good results.

To read that information: