Apparently Iceland is having to consider joining the Euro and EU due to the banking crisis. Even the fishermen ( so the BBC tells us ) are softening in their traditional opposition - making the Cod War a bit pointless. I have a message for the people of Iceland - don't do it ! There are only 300,000 people in Iceland if they join the EU they will lose: Fishing grounds.The ability to govern th...

Iceland seems to have been the worst-hit of all developed countries by the financial crisis. For a country of 300,000 people, it certainly did have a lot of banks. And they certainly did expand very rapidly and probably quite recklessly. A friend of mine who works in the financial sector points out that, yesterday, Iceland tried to peg its currency to the euro. That peg lasted just minutes. And, w...

Near-bankrupt Iceland's €4bn ($5.43bn) loan from Russia is still not a done deal. Iceland's central bank Governor David Oddsson says that talks are still "ongoing" but that any aid from Russia would be "very much welcomed."   You can understand why Iceland is desperate for a massive euro-injection in the current bank crisis: the Sedlabanki, the central ...

Yesterday I admitted to being mystified by some Icelanders’ optimism regarding adoption of the euro currency, while rejecting membership in the European Union, or even membership negotiations. Among the reasons for my perplexity in Iceland & EU: Monetary union only? (23 April 2009) were the existing exceptions, according to Wikipedia Montenegro, Kosovo, Andorra, Monaco, San Marino, the V...

Well, stranger things have happened. Iceland's Prime Minister, Geir Haarde has announced the creation of a commission to analyse whether Iceland should join the EU, while the Icelandic Foreign Ministry has drafted an action plan that would see the country make a membership application early next year with a view to becoming a full member in 2011. Given that Iceland already implements EU single

"I explained that right across the EU the people are turning against the Union...as witness the Irish vote. I said I was really quite shocked that such a modern country as Iceland was being taken in, for the moment, by arguments about the euro that are so very out of date." Read Nigel Farage's Blog

In asserting that Iceland must repay in full, Britain is making two contestable assertions. The first is that if Iceland’s private fund can’t pay, the responsibility passes to the Government and taxpayers. EU rules do not say this, if only because they fail to provide for such dramatic circumstances. The second is that Iceland must

Iceland has struck a fresh deal with Britain and the Netherlands to repay nearly €4bn lost in the failed Icesave online bank after two years of diplomatic wrangling

Gordon Brown accuses Iceland of 'unacceptable' action over British savings in collapsed banks.

Iceland is being induced to give up its freedom, with our taxes, but the Euro-zone is falling to pieces as countries like Ireland and Spain suffer as a result of not controlling their own Economic policy.The Fabian or progressive element is delighted to see Iceland`s scalp taken and enthusiasm for removing power from the masses must be seen as part of the long tradition of despising ordinary peopl...