I got the permission of the author to translate this remarkable article from Smugan into English. If you need proof why Iceland is in a no less perilious situation today as it was before 2008, then read what AK72 has compiled on the curious privatization of the South Peninsula’s energy resources into the hands of [...]

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 [...]

Inept all around. That is Althingi today. It is 12.30am and a convicted thief, who happens to be the only MP who still hasn’t dared to reveal who is paying his way in politics, is lecturing the Icelandic nation in history and on the EU(full of xenophobia, misstating of facts and ridicule). Arni Johnsen, who [...]

One major factor in why people should think twice about voting for the same old parties is that they haven’t managed to be transparent about who are paying their way.  Fortunately Channel 2 has decided to inform voters about the six politicians from the Independence Party, Social Democrats and the Progressive Party who were sponsored [...]

  So what happened at Glitnir’s Fund 9? According to some journalists, people who want answers are advised against going there as it can only end up badly. Former investors are maintaining that a few investors were able to get rid of their worthless FL Group/Stodir paper into the fund, which then was bailed out [...]

Glitnir The Independence Party might have enough on their plate with the scandal surrounding the donations from FL Group and Landsbankinn. Andri Ottarsson has resigned as the CEO, issuing a statement saying he had nothing to do with the donations but he still wanted to resign to help the party regain some credibility (why is [...]