It used to be that dates when the Central Bank announced its interest rates were earth-shaking news-material in Iceland. Today when the bank lowered the rates down to 7% from a high of 18% in March of 2009, it barely got a mention. The rates are at their lowest since 2004. See here at DataMarket. [...]

Because of time limitations (only 24 hours in the day) I am very grateful to Vilhjalm A. and Gandri for putting down in words exactly what I have been pondering about what Johanna Sigurdardottir calls the “definite solution to finally meet the required needs of Icelandic households”. From Vilhjalm A. (translations mine ): Finally the [...]

“I think what is happening in Iceland proves that our own currency is very beneficial to our needs. You don’t have to go far back to see that the currency developments have increased the competitiveness of Icelandic businesses and industries”. - Steingrimur J. Sigfusson, Finance Minister of Iceland two years after an economic collapse all [...]

The thirty year old male raged about Johanna Sigurdardottir and called her the “worst Prime Minister Iceland has ever had”. And this is someone who is to the left politically. Her shortcomings according to this disgruntled voter was that she is never seen or heard. In a time of great peril to the nation she [...]

Icelanders have a dark sense of humour as is evident by Hugleikur Dagsson’s books and Illugi Gunnarsson being a member of Althingi. The joke making its way onto the Facebook statuses of too many Icelanders in the last two days crosses the boundary of tastelessness, but reveals the hatred and stupidity in which Icelandic politics [...]

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 [...]

“How to settle the debts of individual businesses is in the hands of the banks and they have to work according to regulations in those matters and not discriminate between people when estimating how the interests of the bank and therefore the Icelandic economy is best served, and how to minimize the damage. I will [...]

Sigmundur David Gunnlaugsson – Progressive Party 1. Defend the interests of father’s friends and Progressive Party fat cats. 2. Stall an IceSave solution as long as possible to make political opponents look bad. 3. Have lunch. 4. Make sure that the Progressive Party “owns” a special green room at Althingi. 5. Have dinner 6. Regularly cause [...]

Paul H. makes a good point in a comment here: Under the circumstances it would make most sense to re-structure loans to a form that can actually be paid back. For benefit of both lender and borrower. Weren’t the ‘amendments’ to the Icesave ‘deal’ meant to make it possible for Iceland as a whole to [...]

One should think that transparancy is of utmost importance for any Icelandic government since the heyday of the behind-closed-doors governance of the Independence Party and the Progressive Party. Questions remain regarding the true ownership of Magma Energy, which has now gotten its hands on valuable energy resources through a game of remiscent of previous governments. [...]