Icelandic Officials Are In Moscow Asking For A Loan

Correction Oct. 14, 2008

Some versions of this story incorrectly said Iceland's stock market was still closed. It reopened on Tuesday.

Iceland has felt the full impact of the global financial crisis.The country is in such a mess that the prime minster has announced it could go bankrupt. The government has taken over three major banks. And now Icelandic officials are in Moscow asking the Russians for a loan. To top it all off, Reuters reports the country went up for sale on eBay, at least momentarily. The listing boasted a habitable environment, Icelandic horses and a somewhat sketchy financial situation. Bidding started at a bargain $1.75, but bidders had many questions, including, "Will my payment be frozen?"

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RENEE MONTAGNE, host:

For our last word in business, we check in on Iceland, that North Atlantic island where people have felt the full impact of the financial crisis. The country is in such a mess, with the prime minister announcing it could go bankrupt, that the government has taken over three major banks and officials are now in Moscow asking the Russians for a loan. To top it all off, Reuters reports that the country went up for sale on eBay, at least momentarily. The listing boasted a habitable environment, Icelandic horses, and a somewhat sketchy financial situation. Bidding started at a bargain buck seventy-five, but bidders had many questions, among them, will my payment be frozen? And that's the last word in business news on Morning Edition from NPR News. I'm Renee Montagne.

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