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The failed state of Iceland
"It’s a story of incompetence. It’s a story of hillbillyism and delusions of grandeur" -Gunnar Andersen, FME

The failed state of Iceland

March 2010

The full horror of the country’s bank-led collapse is still emerging. A new generation of regulators is trying to sort out the mess as prosecutors attempt to bring the perpetrators to justice but, as Elliot Wilson discovers in Reykjavik, there’s a long road ahead to recovery.

Loans: High-yield hiatus could scupper loan recovery

March 2010

Limited refinancing window; Bank lending capacity could fall

Monetary policy: Cheap money is here to stay – for now

March 2010

Price action reflects fragile nature of recovery; Fed reiterates fed funds to stay low for “extended period”

Korea: Court rules Kiko contracts binding

March 2010

Currency contracts not structured unfairly; Judgement might set precedent

Russia: Moscow mandates for market comeback

March 2010

After a hotly contested process involving more than 20 investment banks the authorities in Moscow have mandated Barclays Capital, Citi, Credit Suisse and VTB Capital to lead manage Russia’s return to the international bond markets after an absence of more than a decade.

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