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Iceland bailout package expected soon

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Iceland bailout package expected soon

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Finland, Sweden, Norway and Denmark are to lend Iceland a total of almost two billion euros, according to a Finnish government official. A formal announcement is expected of a financial package to help the crisis-hit island repair its broken economy.

The Finnish official said “The timing is still open, but it’s quite urgent.” The International Monetary Fund is also expected to contribute along with Russia, Poland, the Faroe Islands and the European Commission.