RUSSIA AND ICELAND IN LOAN TALKS

This can't be good for anyone:

Russia started talks with Iceland on Tuesday on granting a 4 billion euro ($5.4 billion) loan to help the Nordic country through its financial woes, the Russian Finance Ministry said.

The delegation arrived in Moscow late on Monday for a series of meetings to agree terms for a loan that would allow Iceland's government to shore up its shaky national currency, the krona, which has lost about a quarter of its value against the euro since the start of the year.

"The delegation from Iceland is in the Finance Ministry. The negotiations are ongoing," a ministry spokesman said.