WTF? Russia To Lend €4 billion to ICELAND To Support Oligarchs?

This is totally crazy. However, given that another article I found claims Russians on the Forbes billionaire list have lost $230 billion (!) in the last couple of months, there is serious crisis. One wonders, though, about whether this could destabilize the Russian regime. While oligarchs are very important, Putin to some extent gained power by demonstrating that the Kremlin could force these people to pay their taxes and revive state institutions like the military, the schools, the vast infrastructure that delivers needed supplies to remote Arctic and Siberian populations...

Part of:

http://business.timesonline.co.uk/tol/business/industry_sectors/banking_and_finance/article4909993.ece

A number of British-based Russian oligarchs linked to Icelandic banks are also understood to have had their holdings seized. Russia, which began talks this week to give the Icelandic Government a €4 billion (£3.2 billion) bailout, has strong economic ties to the island nation.