Flash Comment
Iceland: Helping hand from Nordic central banks
Fri, May 16 2008, 10:51 GMT
by Lars Christensen
Danske Bank A/S
This morning it has been announced that the Swedish, Danish and the Norwegian central banks have made an agreement with the Icelandic central bank concerning a swap facility that will give the Icelandic central bank the right to buy euro against the Icelandic kronur. The agreement is a EUR 500m swap deal with each of the three central banks. This is obviously good news for the Icelandic markets and should contribute to reducing the stress in the Icelandic markets.
Published on
Fri, May 16 2008, 10:51 GMT
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