Coffee House exclusive: What the Russians want in return for bailing out Iceland

kinglear

Ah so not only financial Armageddon, but WW 3 as well. Nice.

TrevorsDen

Want?

a pound of flesh - what else?

TrevorsDen

And a PS ...
A dumb blond SKY News reporter has just pointed out that Mandy is still in Downing St talking with Brown and is no boubt giving him the benefit of his "economic expertise".

I kid you not - you could not credit it could you?

Clement

Hardly an exclusive! And you may have missed the real motivation. The Icelanders might not be as stupid as we think:
http://www.thebloggersguide.com/reykjavik/russia-bales-out-iceland-what-cost

C Powell

Well, if no-one else is prepared to bail Iceland out, why wouldn't Iceland agree to Russia's request? What about the IMF? What about the suggestions that the Scandinavian countries would bail Iceland out? And why only 4 billion? 4 + 4.5 doesn't equal 10.

What's the UK going to do given the impact a collapse of Iceland's banks would have on UK savers and businesses?

THX1138

Putin's gone to Iceland!!

Faceless Bureaucrat

"Not that Keflavik would become a Russian air base -- Iceland is a member of Nato, so that is out of the question..."

And who, pray, will go in and kick the Russians out if they decide to take-up residence? - The Icelandic Dog Sleigh Display Team?...

lol

A highly placed source in Reykavik told me the Russians wanted 23 Icelandic virgins per week for the next 4 years.

Duh.

David Lindsay

"cause consternation in Washington"

Why?

Old Hack

Surely the arctic mineral rights issue will come into play?

James Lees

Perhaps we should extend an invitation for iceland to join a new Sterling area. They could have a seat on the monetary Committee and have Icelandic Banknotes. Anything to restore stability, stop the Russians and help our friends. Also a nice place to go on holiday!

Andrew Forbes

Given the price; giving Russia the ability to occupy them at any time at all, you'd have thought they'd hold out for the full E10bn.

Dirty Euro

Bush makes another disatorous geopolitical mistake for the USA. What a beef head. In geopolitical terms has there been a worse US government.

anthony steyning

Wasn't it 2 months or so ago that Iceland was to reported to be happiest, richest, most fulfilling place on earth and Icelanders with the most longevity and all that BS. Can you dig up the dream-team that came up with that report?

David Lindsay

Anyone who still doubts just how completely unconservative neoconservatism is need only read this thread.

Russia is the pre-eminent protector of the Biblical and Classical civilisation that is the true West, both against the decadent pseudo-West of globalisation, European federalism and American military-industrial hegemony (such as in Georgia), and against the pseudo-West's Islamic allies (such as in Chechnya and Azerbaijan).

Putin has recently said that he would not want streets to be named after him. Well, streets used to be named, and not without cause, in recognition of things like the struggle against apartheid in South Africa. Today, let them be named in recognition of the struggle against globalisation, European federalism, American military-industrial hegemony, and Islamic expansionism: Abkhazia Street, Ossetia Road, Karabakh Avenue, that sort of thing.

Meanwhile, Iceland is the sort of place to which Scottish separatists tend to look for inspiration. And now, it is giving them plenty.

There is a vast financial services sector based in Scotland, and it is very dear to the popular heart there. As well it might be. An independent Scotland could not underwrite one, never mind all, of the Royal Bank of Scotland, HBOS, Standard Life, Scottish Widows, and all the rest of them.

So Scottish independence is now, and really always has been, a dead cause. And it is difficult to see what the point of devolution is, in that case. There is no need to go through the rigmarole of abolishing it. Just let it die of disuse. As, in fact, it is already doing.

Herbert Thornton

My first question is - how long are the 4 billion Euros going to retain their value?

And if Russia is in such a poor state as we are constantly told, how come it is in a position to lend 4 billion Euros?

And can we now expect to see China, which I gather has rather large reserves of non-Chinese currency, also lending money to bail out other countries - and if so which? Pakistan is reported to be near bankruptcy - though I suspect the Chinese are too wise to throw money away in the same way as the U.S. has thrown it away in return for worthless mortgages.

Maybe George Brown should ask the Saudi government for money? Oops - I forgot. Saudi money is already pouring in - just look at all the nice shiny new Mosques, complete with advanced education facilities and teachers.

J.B.S. Haldane once suggested that the universe is not only queerer than we suppose, but queerer than we can suppose. I very much incline to say the same thing about the worlds financial system.

Talia

Mr Neil, while you’re here, would you mind sharing your thoughts on the ode to Gordon Brown by Duncan Bannatyne on This Week of September 25?

Andrew Forbes

David Lindsay; Scottish independence will come AFTER the bail out. Don't expect a thankyou, though.

mo9lesworth 1

This rumour is forcefully rebuffed here:

http://blogs.ft.com/westminster/2008/10/iceland-denies-base-offer-to-russia/

Witchhunted

lol: Icelandic virgins?

Not very familiar with Scandinavian countries, are you?

Kurt Ewiopp

All bets are off. The tectonic plates are shifting in world hegemony terms. Clearly, nobody knows WTF is going on anymore, but I wonder if historians will be talking about this in 100 years time, if they are allowed to?

David Short

Someone's been taking gullibility pills.

Mario Ferrandi

Can't you see the the Western American Empire is falling?

Richard

I wouldn't count on being a member of NATO as a deterence to Iceland. Britain embargoed Iceland during the Cod wars. Iceland turned to Russia for essential trade. Icelanders and Russians have had good relations ever since.