After Great Britain and the rest of Europe refused to help bail out Iceland, whose debts totalled more than 12 times what the government was capable of repaying, the nation turned to mean old Russia for a $5.4 billion loan. I can only imagine what the terms of the loan were, but don't be surprised if everyone is speaking Russian the next time you go to Reykjavik.
Friday, October 17, 2008
Fact: Russia owns Iceland
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