An earthquake with a magnitude of 4.9 points on Richter scale hit the Southwest part of Iceland at 21:33 GMT on the 29th of May 2009. Exactly a year earlier a big earthquake hit the southern part of the country, measuring 6.8 on the Richter scale and destroying about 40 houses but fortunately without human […]
All banks have collapsed in Iceland
The government of Iceland announced yesterday that the banks which where last standing has collapsed and have now been took over by the government. So the situation is now like in the 80’s when all the banks where owned by the government. The good news is that now is nothing left which can collapse so […]
Icelandic Central Bank Governors Fired by Parliament
The Icelandic parliament has passed a government bill which makes it possible to fire the two last standing governors of the Icelandic Central Bank (ICB). This is huge milestone in the efforts of the country to make itself trustworthy again after the financial mess which the biggest party in parliament, The Independend Party, governors of […]
Need for help increases 150% in one year
Newly published numbers of people in desperade need for help, both financial and food help, from relief agencies and institutions like the Icelandic Church Aid have increased 150% since the same time last year. The numbers are expected to increase even further next months and possible next two years. There are now 15 thousand people […]
CBI governor says no to PM of Iceland
The head governor, Davíð Oddsson, of the Central Bank of Iceland has written letter to the prime minister of Iceland where he denies the prime minister request that the governor steps down from his position in the central bank. No one in Icelandic history has been charged and put to jail for treason but people […]
Iceland’s Power Struggle
The prime minister of Iceland has written a letter to the three governors of the Central Bank of Iceland with the request that they resign before the 5th of February. One of the governors agreed to the request and has resigned from his post but the other two are still in their positions. Other […]