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Old 07.10.2008, 12:47
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marton marton is offline
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Re: How Safe is UBS

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From today's evening standard
"Trading in the shares of all Iceland's banks and financial institutions was suspended on the Nordic Exchange today ahead of a long-awaited bailout plan from the government. The Icelandic krona fell 7% to a record low of 174 against the euro." Marton.
Times today
"British savers have been blocked from withdrawing funds from Icesave, the internet savings bank that is owned by Landsbanki, after Iceland’s financial regulator took control of the country's second largest bank."

But it is OK the Russians are coming, maybe?

"The Icelandic central bank said that Russia had agreed to provide Iceland with a €4 billion (£3.1 billion) loan to strengthen foreign reserves and support the Icelandic crown, which fell by 35 per cent on Monday.
Russia said, however, that no decision on the loan had been made."

Marton
I suppose the next move will be for the Chinese to rescue a country?
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