Why does Iceland need the EU? A comment from this post expressed wonder at the current situation in Iceland. Somehow many people expected things to be much worse for the general population by now. People are still going to coffee shops even if the latte is approaching the price of a pre-crash beer, there are [...]

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 [...]

When I published this, I got an interesting comment from an MP from the Progressive Party. Eyglo Hardardottir accused me of judging her party harshly, by saying that “after the shenanigans of the last two decades the Progressive Party has put itself in such a position that their ideas are automatically distrusted. That is why [...]

“Definitely we would come to the rescue of a bank – definitely. “The banking system in Iceland is very large compared to the economy, but still we think we can maintain the problem because the balance sheet of the bank is very good.” “They have not been involved in sub-prime or buying housing debts from [...]

Nevertheless we all feel that it is indeed very reasonable and important to ask ourselves how we should try to conduct our lives. The answer is, in my opinion: satisfaction of the desires and needs of all, as far as this can be achieved, and achievement of harmony and beauty in the human relationships.  - [...]

Vilhjalm A is back on the subject of mortgage reductions. Sounds a whole lot more thought through than the throwing around of percentages that the politicians running have been offering.  Here goes:  Back to the costs of such a mortgage reduction plan for Iceland: “Tryggvi Thor Herbertsson and the Progressive party have introduced ideas of [...]

For years it was only a question of when the two would become one but the circumstances could hardly have been predicted by many.  SPRON, Reykjavik’s Savings & Loan has been taken over by the Financial Authorities and the customers transferred to Kaupthing.  The IceBank central processing unit will be moved to the Central Bank [...]

What kind of a political party would seek and accept a 300.000 ISK donation from the 112 Emergency Phone Service (what would be Rescue 911 in the US)?   The Independent Party. And now they await the verdict on whether this donation is legal or not, as 112 was majority owned by the state at [...]

We are deeply disturbed by the former Minister of Fisheries and Agriculture’s decision to authorize the hunting of sei whales and minke whales over the next five years, along with a dramatic increase in Iceland’s whaling quota. From the letter sent from Whole Foods president AC Gallo to Steingrimur J. Sigfusson, Minister of Fisheries.  Now, [...]

…way too little…way too late…