Bjork Urges Iceland to Seek Credit Repair with Installment Loans

Iceland’s economy has been hit particularly hard by the world economic crisis, and they’re in severe need of credit repair and installment loans.

Russia has extended a $5.4 billion bailout in installment loans, and the theory behind why is that they want to use Iceland as a stepping stone to hydrocarbon and other mineral deposits in the Arctic.

However, for sustainable economic change, Iceland’s most famous daughter is calling for different measures.

“Right now I would say it looks like it’s the only way.”

Singer Bjork Gudmundsdottir (known worldwide by her first name, Bjork) has called for her home country

to turn away from the independent course it has maintained since the age of Vikings and join the European Union.

Iceland’s economic downturn has largely been a byproduct of the collapse of its three major banks. Difficulties began when they were unable to refinance short-term debt with installment loans and citizens began to pull their money and deposit it in the United Kingdom. Bad way to repair credit fast.

Pull your money, pull the rug out from under the economy

Now Iceland is in dire need of financial stability. According to “hundreds of start-up companies” Bjork has spoken with, the number one thing that would stop Iceland’s current shift toward economic and ecological collapse (the latter courtesy of a growing aluminum smelting industry) is to stabilize the currency. The euro would be a logical choice for credit repair services, but Iceland would have to join the EU first.

There would be conditions

According to the EUBusiness story:

Some European countries say they will support an IMF loan and emergency EU aid to Iceland only if Reykjavik settles a dispute over frozen British assets

For more from Bjork on Iceland’s environment and the drastic need for economic help with installment loans, sit back and enjoy:

And here is her song dedicated to Iceland and nature, “Nattura”

The economic challenge for small, independent Iceland is ongoing. Thankfully, yours doesn’t have to be. Personal Money Store’s tips for credit repair can be a big help. If you’d like to learn more about repairing your own credit, sign up for our FREE E-book on the right-hand sign of this page.