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 [...]

It is quite amazing how successful the Independence Party has been at projecting two of their own larger problems onto others. In classical psychology, projection is always seen as a defence mechanism that occurs when a person’s own unacceptable or threatening feelings are repressed and then attributed to someone else. An example of this behavior might be blaming [...]

If Ragnhildur Sverrisdottir is worth anything as a PR person then surely she must distinguish herself from Bjorgolfur Thor’s latest attempts at total self destruction of his reputation. Or maybe she is working for free and her advice worth every penny? In an astonishing interview with VB.is Bjorgolfur comes across as a spoiled little child [...]

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.

The Independence Party convention this weekend confirmed the stronghold that the old guard of David Oddson and the Fisheries Union has on the party. A declaration stating that Iceland should retract its application to the EU immediately was approved by the majority. The fallout could see an interesting split in what was once a proudly modern party. [...]

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 [...]

Well this is what happened…. …apart from the UK and Holland not showing any signs of rushing into negotiating… ….nothing.

So is the stability agreement between the government, the unions and the Confederation of Icelandic employers in danger because of an extra 2.000 tons quota of monkfish? It might be if you listen to Vilhjalmur Egilsson, the chairman of the employers’ confederation. On the radio this morning, he was asked to rationalize how that could [...]

Are you confused as to why the Independence Party is now topping the polls with 40,3% and adding 11 new members of Althingi if the vote were today? Don’t be. Voters are illogical, as is evident by this excellent summary from an article in Time. They would even vote for the party which caused the [...]

The party which got Icelandic society into this mess could just hold the keys to make things right. It is quite a bit strange to hear people say that they would still vote for the Independence Party today, even after its Icarian flight of the past two decades and its nepotistic distribution of the wealth [...]