Quit your whining over the Icelandic volcano, The Islands Mountain Glacier Volcano. As Kenyan farmers lose billions in revenue, as British office workers don‘t get their fruit salad for breakfast, as Pep Guardiola and Rafa Benitez whine their ways to Milan and Madrid by bus and train this eruption can act as a serious kick [...]

Illugi Gunnarsson and Bjorgvni G. Sigurdsson resign as MP’s. Not because they have done something wrong but because they want an opportunity to clear their “good names”. That is also what Bjorn Ingi Hrafnsson said when he stepped down as editor of Pressan.is Now Thorgerdur Katrin Gunnarsdottir has also resigned…”temporarily”. The lessons learned for the [...]

Currently there appears to be an undercurrent of social instability not seen in Iceland in modern times.  To respond, we should examine five dimensions on the security spectrum which can be considered to be especially revelant in Iceland in the present. These dimensions are: -          Traditional Military -          Economic vulnerability and  instability -          Breakdown of [...]

After the state announced that it was going to take over 75% of Glitnir it was clear that Stodir/FL Group, the largest owner of the bank would go under. It had been clear for some time that Baugur, Stodir/FL Group’s owner was in a bad shape financially. This created an immense problem for two funds [...]

From the report, Ossur Skarphedinsson described a government meeting with Halldor J. Kristjansson, Sigurjon Th. Arnason and Bjorgolfur Thor from Landsbankinn. “They came to introduce to us some “great offer”. And he (Bjorgolfur) sat there in his fine suit, a real “seller” and selling something where they were supposed to get Glitnir free and a [...]

Everyone named in the Special Investigation Committee‘s report is asking everyone else to accept responsibility. But nobody has the guts to take the first step. Why the hesitance? It is quite understandable if you look at it from the viewpoint of someone who‘s wrangled their way to the top in Icelandic politics and banking. They [...]

Below is a list of those politicians, investors and bankers who have accepted responsibility for their part in the economic crash in Iceland after the publishing of the Special Investigation Committee’s Report. 1. Bjorgolfur Thor apologized to the Icelandic nation in an open letter in Frettabladid April 14, 2010. 2. 3. 4. 5. 6. 7. [...]

The long-awaited report is out and it appears that the wait was worth it. It is more revealing and tougher than most people expected. Bits and pieces here taken together from the reporting of visir.is, dv.is, eyjan.is, pressan.is and mbl.is Of course many Facebookers and bloggers of left and right leanings are already finding blame [...]

Lack of respect towards normal and healthy ways of doing business within the business sector, especially the banks. Politicians who did not understand or want to confront reality. Special interests over national interests. Just what we have been talking about in the last 18 months. English translations available here. Before writing about the report I [...]

It is a vacuum out there. After a year and a half of turmoil and drama, things are sort of in-between at the moment in Iceland. The national referendum and its underwhelming effects seem to have let a lot of hot air out of the system and left things in limbo for now. Sigmundur David [...]