With no hint of irony the lobbyist group InDefence which has fought vehemently against the payment of the IceSave debt to Holland and the UK, accepted an award this weekend. The award is called the Kjartan Gunnarsson Freedom Award and it was presented by the youth association of the Independence Party at the party’s headquarters. [...]

Tyler Durden at ZeroHedge points out this video of Columbia University economist Fredric Mishkin who has changed the title of his 2006 pen-for-hire paper on Iceland’s economic state from Financial Stability in Iceland to Financial Instability in Iceland. Some time ago we penned a post, titled”Mishkin On Iceland: “Nothing Is F*#&ed Here Dude” which discussed [...]

I have a bad feeling about the Congress on Constitutional Reform, scheduled for the autumn. It could turn out to be an outstanding achievement, on par with the Special Report. Or it could turn out the way things did in the aftermath of the report’s publication. It could wither and die in the hands of [...]

Turns out that the currency loans which have rocked Icelandic society for years were illegal after all. Of all the royal mess created and sustained by the Icelandic political elite, the whole affair ranks amongst the absolutely worst. On the ground level amongst the public, lives have been lost, future plans have been destroyed, people [...]

If you live round here it’s where your dreams are made, There’s no beach, no bucket and spade - Morning Glory What does it take to maintain ablog which is read by a few more people than your mother? A bit of time to write, inspiration and a whole lot of enthusiasm for your subject. [...]

Gudbjorg Matthiasdottir must surely be the economic crisis’ ultimate winner. She displayed astute business sense by selling off her 1.71% share in Glitnir worth 3.5 billion ISK on the last day before it collapsed. She then partnered with a few other fishing magnates to buy the financial wreck that was Morgunbladid, after a 4 billion [...]

The worst thing that could happen if consumer debt is forgiven and Iceland does not have to pay for IceSave is that too many people would go on with their lives as if nothing had happened and keep voting for the Independence Party.

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 [...]

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 [...]

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. [...]