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Iceland Looks For Overseas Help In Dire Financial Crisis

First Posted: 10-13-08 03:51 PM   |   Updated: 11-13-08 05:12 AM

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REYKJAVIK (Reuters) - Iceland looked for help from new partners on Monday to dig it out of a crisis that has overwhelmed its once-flourishing financial sector.

A central bank and finance ministry delegation left for Russia to begin talks on an emergency loan worth potentially billions of euros, a central bank staffer said.

Ministers said the north Atlantic island nation should now consider joining the European Union to safeguard the economy -- a step that in the past has been blocked by the country's influential fishing sector.

Read the whole story: Reuters

Filed by Dave Burdick  |  Report Corrections