Thursday, July 23, 2009

Norwegian bank stops loaning Icelandic companys.

A Norwegian Investment Bank has stopped loaning money to Icelandic companys.
The Bank thinks that the risks in loaning to Icelandic companys is to high.
Last year the Bank lost 145 million Euros.
Half of the loss is traced to ICelandic companys.

If Iceland agrees on paying the Icesave accounts in Europe,that could change the policy of the bank towards Icelandic companys.
A board member in the Bank ,says that it is not about companys credibility,it is about the credibilty of Iceland.

1 comment:

  1. Pheew! The news left me speechless for a moment! Maybe I am wrong, but it just looks like global kind of pressure on poor Iceland. Once again, everything leads to Icesave payments, but it will turn people into slaves and will take away the future (the way it should be). Why it is always that people should pay for the crimes of governments and the bank CEO's?

    It would be much better if Norway would offer a helping hand to the Iceland instead of taking the last straw from the country. A little land like Iceland does not really need that much and Nordic countries alone could help.

    A board member in the Bank said that it is not about the companies, but still companies belong to Iceland and it touches and covers all people of Iceland. You can not affect only company or only the country, - it is integral.

    Once again, didn't expect such turn from Norway. :(