Word: loaned
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...points out, has been in this situation before. In early 2006, credit agencies criticized Icelandic banks for their lack of transparency and reliance on international capital markets. Analysts' opprobrium drove the krona down by 25% against the dollar over six months. Yet Iceland never defaulted on a single loan, signaling a disconnect between foreign perception and domestic reality. "We learned our lesson: we need to tell our story," says Árni Mathiesen, Iceland's Minister of Finance. "Other people are more likely to tell the wrong story or misinterpret...
...results suggest the financial climate has started to warm: the three largest banks all reported strong core earnings, with Landsbanki's rising by 27% compared to the same period last year. On May 16, in a show of support, the central banks of Denmark, Norway and Sweden offered to loan Iceland $2.4 billion in emergency credit, doubling the nation's reserves; the krona immediately gained 5% against the euro. Iceland's central bank asked parliament on May 28 to let it borrow up to $6.9 billion so it can better protect the country's currency and banking system...
...residential lender. At $354,000, that price is 1% lower than it was a year ago, marking the first annual fall since 1996. Banks, still nervous about lending to one another following the collapse of the U.S. subprime market, are being no less careful when it comes to their loan customers: tougher lending criteria and higher mortgage rates have discouraged British house hunters already struggling to meet bloated food and fuel bills. Repossessions are expected to soar by two-thirds this year to some 45,000. The result: property prices look set to fall further. Halifax, Britain's leading mortgage...
...laptops were captured on March 1 when the Colombian army overran a FARC base in neighboring Ecuador, killing guerrilla boss Raul Reyes. Their contents, according to the Colombian government, extensively link Chavez with the rebels, even revealing an alleged Venezuelan plan to loan the FARC $250 million. Chavez denies funding the rebels and accuses Colombia of planting the laptops. But on Thursday, the Paris-based international police agency Interpol reported that its examination of the computers found no evidence that they had been tampered with. Colombia's conservative President Alvaro Uribe and the Bush Administration have issued hearty told...
...going to say that this is a perfect plan," acknowledges Inez Dickens, one of three city-council members representing Harlem. Dickens haggled with city officials to add considerable benefits to the proposal: affordable home-ownership opportunities, a $750,000 forgivable-loan program for businesses that may be forced to relocate, funding for arts and health programs and a $5.8 million enhancement of a local park. None of this mollifies Shange, who says his and other local stores still face closure. "My business has been here through the worst of times," he says. "And now that there will be better times...