Today we celebrate independence day.

For what it is worth.

The feeling towards nationalism has always been like most other emotions in Iceland, sort of quietly muted, yet boiling underneath the surface.

Iceland celebrates Jon Sigurdsson’s birthday as a national day. Fittingly for nepotistic Iceland, the man who married his cousin became their leader in resisting the adoption of Danish Grundlov in Iceland in the late 1800′s, eventually leading to Iceland being granted a limited constitution by the king of Denmark in 1874, allowing autonomy in internal affairs.

Traditionally it rains on June 17. If there is anything you can count on then it is that fact.

Traditionally there are parades in all municipalities, with children waving flags and releasing balloons into the air amidst big tears and shouts.

Traditionally the Prime Minister and President speak. Last year, Geir Haarde had this to say,

“When assessing the situation in the international financial markets, you realize that few things are more valuable than trust and credibility. Those qualities are not only valuable in individuals but also in nations and businesses. The Icelandic nation enjoys trust and it is important that our businesses do so as well, not least the financial institutions. Banking is based on mutual trust.

We Icelanders were well prepared for a setback, better than most other nations, especially those who produce electricity and heat their homes with fossil fuels.”

and…

“We are used to a good standard of living and of course this will continue. Even though it will temporarily get worse, it is still a lot better than few years ago and better than almost anywhere else. The pillars of the economy are strong and the nation is ready to fight. Icelanders have truly displayed through their history that they can attack difficulties and emerge victorious, difficulties that are much more severe than those we think are ahead in the next few months. We can head towards the future, not only with hope, but also in the certainty of the prosperity that awaits us. That certainty is based on the maturity our society has reached and the power within.

I mentioned the year 1969 before in my speech. Then Icelanders lived through one of the toughest recessions in the last decades because of declining fishing and prices falling abroad. The difficulties were more severe then than now. But with togetherness, the nation managed its problems and prosperity ensued. I am certain that this will also be the case now. ”

A few months later, Geir Haarde’s virtual reality had crumbled to be replaced by the actual one.

Iceland is not a mature society. It is going through a massive reality check like any child or teenager that thinks it is grown up too soon.

The recessions that Icelanders have had to go through, since the formation of the republic have not been due to outside forces that Icelanders have had to battle in unision. The recessions have been controlled by governments owned by the richest people in Iceland. With the ISK and political mismanagement, it has been too easy to milk the public for the benefit of the fishing industry and lately the financial industry. The enemy is within, not outside and it needs to be fought.

Today Johanna Sigurdardottir and Olafur Ragnar Grimsson(now there goes someone who we thought was in the missing persons ads), politicians of the past adress an Iceland that is uncertain of the future. Whatever they have to say, they will find trust and credibility in politicians hard to come by. The future of Iceland is being dreamed up outside of their range.

Related posts:

1. Brief Considerations after Visiting Iceland (March 9-13, 2009)
2. What Do Fishermen and Investment Bankers Have in Common?
3. 2009: A Year For Nothing
4. Foreign banks welcome
5. Icelandic Businesses Need A Future Plan