Icelandic government math
A good friend sent this to me just now: The Icelandic government seems to use their own rules for arithmetic. From the Letter of Intent they sent to IMF:
The collapse of the banking system has left us with considerable external financing needs. We estimate this need to be about $25 billion during the period from now and until the end of 2010. Of this, about $19 billion are composed by arrears on obligations of the three intervened private banks as well as financing earmarked for payments in relation to foreign deposits, leaving a cash financing need of $5 billion.
In case you missed it - it says that 25 - 19 = 5.
(note: this post makes no judgement of what amounts are needed, just pointing out the math, and yes - I realize it is probably a rounding error)
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