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Icelandic banks - what is meant by "size of debt"?
Bromley86
Posts: 1,123 Forumite
I keep seeing articles that talk about the size of the debt of Icelandic banks being xxx (i.e. per that ridiculously long link at the bottom, foreign debts = $60b).
Now is that a net debt estimation or, as I think more likely, is it a statement of total debt that will be, to some extent, offset by the assets that the bank holds?
Obviously the value of those assets is uncertain (here's hoping they weren't Icelandic assets though!). Anyone have a link to a more highbrow summary than that Sky one I linked to?
As an aside, I read in that link that Haarde wants the $6b partly to help fix the broken banking system. Presumably they mean the domestic system because no-one from abroad is going to deposit in Iceland ever again.
http://news.sky.com/skynews/Home/Business/Iceland-Needs-Billions-Of-Dollars-More-Even-After-A-Huge-IMF-Loan/Article/200810415127998?lpos=Business_News_Your_Way_Region_8&lid=NewsYourWay_ARTICLE_15127998_Iceland_Needs_Billions_Of_Dollars_More_Even_After_A_Huge_IMF_Loan
Now is that a net debt estimation or, as I think more likely, is it a statement of total debt that will be, to some extent, offset by the assets that the bank holds?
Obviously the value of those assets is uncertain (here's hoping they weren't Icelandic assets though!). Anyone have a link to a more highbrow summary than that Sky one I linked to?
As an aside, I read in that link that Haarde wants the $6b partly to help fix the broken banking system. Presumably they mean the domestic system because no-one from abroad is going to deposit in Iceland ever again.
http://news.sky.com/skynews/Home/Business/Iceland-Needs-Billions-Of-Dollars-More-Even-After-A-Huge-IMF-Loan/Article/200810415127998?lpos=Business_News_Your_Way_Region_8&lid=NewsYourWay_ARTICLE_15127998_Iceland_Needs_Billions_Of_Dollars_More_Even_After_A_Huge_IMF_Loan
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