`Iceland is turning into the little Cuba of the north, said Ragnar Hannes Gudmundsson, 38, who has worked at Kaupthing Bank hf, Iceland’s largest lender. “The Soviet Union supported Cuba decades ago and now they are saving us.
Oct. 8 (Bloomberg) — For Russian Prime Minister Vladimir Putin, the financial crisis that is costing his government $200 billion may also provide an unexpected opportunity to expand his country’s influence.
Rejected by its Western allies, Iceland yesterday said it was in talks to borrow 4 billion euros ($5.4 billion) from Russia to shore up its financial system. It would be the first time Russia has extended financial assistance to a NATO country.
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