According to DV.is Asbjorn Ottarsson, Independence Party MP paid himself and his wife 65 million ISK in dividends from their fishing company Nesver in 2008. The company lost 574 million ISK in the same year and had a negative equity of 157 million ISK. This is one of the 63 people who is supposed to provide a [...]

It is clear as dayligth that the political and financial elites which control the “four parties” decided early in the economic collapse to sacrifice the indebted households in the country. This was done while a fortress was erected around owner of capital and the criminals who bankrupted the country. Most things indicate that the politicians decided [...]

  Exceptional circumstances call for exceptional thinking, approaches, measures and solutions. No matter what the future departs, Iceland is still an independent nation with a voice. The Presidential decision to submit the entry into force of the new law to national referendum has  called world-attention. Icelanders need to stand together and get the world to understand [...]

The political farce continues. The president of Iceland has just put his own personal gain above the interest of his nation. He has asked for a national referendum on the IceSave bill. What is the nation going to vote on? To pay or not to pay? If I were asked if I preferred to pay my debt or [...]

A brilliant recap of 2009 by reporter Magnus Geir Eyjolfsson from Pressan.is The IceSave issue finally closed yesterday with the historic vote of Althingi, ending one of the most humiliating year for politics ever, in an appropriate manner I must say. Never before has such a large group of people embarrassed itself as thoroughly and disappointed [...]

This paper asks why Iceland had until July 2009 chosen to participate in the European project through the EEA and Schengen agreements but not with full membership in the EU. It analyses if and how ideas on the Icelandic nation and its sovereignty affects the stance Icelandic politicians have taken towards the European project. Icelanders’ struggle for independence in [...]

I’d be more sanguine about all of this if there were any indications that private, final demand is taking off — consumers, business investment, whatever. But I haven’t seen anything suggesting that sort of thing. The chances of a relapse into recession seem to be rising. I’d be more sanguine about all of this if there were [...]

According to Google Zeitgeist, Iceland was the third most searched word regarding economic issues in the year 2009. It’s the Economy crisis cash for clunkers iceland california recession obama unemployment rate green great depression inflation The full list in the It’s the economy section 1. crisis 2. cash for clunkers 3. iceland 4. california 5. recession 6. obama 7. unemployment rate 8. green 9. great depression 10. inflation

The ubiquitous cranes have paused on the skyline, as if stuck in time. There are countless buildings half-finished, seemingly abandoned. In the swankiest new constructions – like the vast Atlantis hotel, a giant pink castle built in 1,000 days for $1.5bn on its own artificial island – where rainwater is leaking from the ceilings and [...]

It is a strange feeling to witness your country falling apart before your eyes. You first start to panic when you realise that there is nothing you can do to stop the crash. When the crisis hit Iceland’s shores last year the rock of the Viking economy proved to be nothing more than clear water. [...]