Brussels to loan funds to Iceland in 'political gesture'

The European Union is to make a "political gesture" of a nominal loan to Iceland to help the country avoid the collapse of its economy.

Describing the sum as "small," but not specifying any amount, European Commission spokesman Johannes Laitenberger told reporters in Brussels on Monday (10 November): "This should be seen more as a political gesture, as a complement" to loans from the International Monetary Fund (IMF).

The IMF announced at the end of October to provide the ailing n...