and borrowing to assist domestically for the concomitant hard****ps may
prove,
I think, much less costly than trying to carry the existing banking
debts.
Iceland need only go down that road until credibility is restored and
reinforced.
That the domestic economy and population are small relative to the
banks'
balance sheets is a double-edged sword that can cut positively.
Citizens meeting a bona fide domestic borrower test could perhaps be
afforded
favored rates.
Perhaps this route is worth traveling for a while before deferring to
recommendations
of Kaupthing Bank=92s research department.
