2008-11-07 11 h 38 :: forbes.com :: Icelandic PM says banking system functioning again

http://www.forbes.com/afxnewslimited/feeds/afx/2008/11/07/afx5665737.html

Icelandic PM says banking system functioning again
11.07.08, 11:38 AM ET

REYKJAVIK, Nov 7 (Reuters) - Icelandic Prime Minister Geir Haarde said on Friday the country's banking system was functioning again after all but collapsing last month.

Haarde told a news conference a group of lenders were still finalising the details of a loan package that will include a $200 million Polish contribution announced earlier on Friday.

Commerce Minister Bjorgvin Sigurdsson told reporters the government had appointed new boards of directors for banks Landsbanki, Glitnir and Kaupthing , all of which the state took over last month. Keywords: ICELAND/BANKS

(Reporting by Omar Valdimarsson via Stockholm Newsroom, tel: +46-8-700 1017, e-mail: stockholm.newsroom@thomsonreuters.com)