LIFTING RATES TO CREDIBLY RESTART THE CARRY TRADE 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.
Citizens meeting a bona fide domestic borrower test could perhaps be
afforded
favored rates.
Iceland need only go down that road until credibility is restored and
reinforced.
Perhaps this route is worth traveling for a while before deferring to
recommendations
of Kaupthing Bank's research department.
