Lars Christensen Quotes

"In a low-yield environment, there was a lot of interest in high-yield markets such as the Icelandic. But with yields on the rise in Europe and the U.S., we want to see a lot more quality before we feel comfortable investing, as high yields alone are no longer enough."

"We're still concerned, however, about the imbalances in the economy, but it's positive that the central bank is reacting."

"We see a substantial risk of a financial crisis as an integral part of an Icelandic 2006-2007 recession. The funding squeeze of the banks will probably force them to reduce lending to domestic players, and force a sell off of external assets."

"We conclude that Iceland on almost all measures looks worse than Thailand did before its crisis in 1997 and only moderately more healthy than Turkey before its 2001-crisis."

"Icelandic banks have effectively been shut out of global credit markets, and a credit crisis is just around the corner."