Some notes on the present situation in Iceland - an analysis in the wake of general elections to the Althingi

The general elections to the Icelandic parliament, the Althingi, took place on 29 October. They were inconlusive in that they did not produce any immediate, obvious majority that could form a government. On the other hand, they were in no way inconclusive as to the fate of the sitting government, which was made up of the two parties Framsóknarflokkurinn and Sjálfstæðisflokkurinn, The Progressive Party (a center party originally based on powerful peasant movements) and The Independence Party (a right wing party).

EFTA court dismisses ’Icesave’ claims against Iceland and its people


It is with some satisfaction that CADTM learns of the decision by the EFTA (European Free Trade Association) court to dismiss all the complaints brought by the Netherlands and the UK against Iceland in the Icesave case.

Inspired By Iceland... no, really!

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It is funny how things can turn around. For decades, Iceland languished in neoliberal hell, with signs of opposition few and far between. Meanwhile the opposition to the neoliberal order of things grew all over the world—with massive protests in Seattle, Genoa and elsewhere—and the beginnings of a world-wide anti-globalisation movement represented by the World Social Forum, first held in Porto Alegre, Brazil, in 2001. Almost nobody in Iceland did or said anything to support these powerful movements against the neoliberal order, with the exception of the brave Saving Iceland organisation.

An introduction to Einar Már Guðmundsson's new book 'Bankastræti Núll'

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High Streets and Piss Pots

Before the authorities plugged them up in 2006, there used to be underground, public toilets on the corner of Bankastræti and Lækjargata. In his most recent book, Einar Már Guðmundsson recounts how the toilets were once the hub of Reykjavík’s seedy area, where boozers and drug users mingled and where teenagers procured condoms. The area was commonly known as Bankastræti Núll (“Bankastræti Nil”) or simply Núllið (“The Nil”) as it marks the spot where Austurstræti turns into Bankastræti and a new house number count begins.

XI Disciples of Milton Friedman


It is written somewhere that all cats aregrey in the dark, but here in Iceland, official reports are all black, no matter how bright it is outside. Alþingi’s Investigative Commission’s Report is black. The Central Bank’s Report on the status of household debt is black. And the governmentand International Monetary Fund’s Memorandum of Economic and Financial Policies is also black, dark asa coal mine, and sure enough, it was drafted in April, the cruellest month.

Situation in Iceland - a report prepared for a meeting of activists and left green parties in Brussels 31. may 2011.

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Two years ago, Iceland elected a new parliament or Alþingi, as a result of a people´s revolt. The revolt was a spontaneous democratic popular reaction to the collapse of the banks and the de facto bankruptcy of the country. At the time it seemed destined to be an isolated incident, a rare occurrence in the history of Iceland and a unique upheaval in a developed European welfare society.

Spain: Declaration of support from Attac Iceland.


Attac Iceland welcomes the protests in Madrid and other cities in Spain and sends its wholehearted support. We wish to congratulate the people of Spain on their powerful and widespread protests. Thousands of people have taken to the streets, occupying town squares, erecting tent cities and ignoring the anti-democratic orders of police and courts to cease their actions. The people of Spain have now taken the lead in the global fight against cuts in welfare, social services and other community services.


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Prior to the privatization the Icelandic state owned banks had been under heavy political influence. In fact, the entire financial system was closely regulated. Currency controls were in effect until 1992. However, with Iceland's entry into the European Economic Area (EEA) with the EU in 1994, major changes occurred. The agreement made free flow of capital was possible and Icelandic banks were able to open banks or branches of within the EEA. However, Iceland was not at all capable to deal with these major changes in regulation.

Organizing Against the Debt - Iceland's Message to Portugal

This week has witnessed two very different reactions to European debt. At one end of Europe, Iceland's voters decided once again not to accept the payment terms of their 'creditors', the British and Dutch governments, following the collapse of Icelandic banks in 2008. At the other, Portugal is being pushed down the path of shock therapy by the European Union, with the people of that country cut out of a process which will change their lives dramatically.

Why Iceland Voted ‘No” to the Diktats of the Creditor Banks

About 75% of Iceland’s voters turned out on Saturday to reject the Social Democratic-Green government’s proposal to pay $5.2 billion to the British and Dutch bank insurance agencies for the Landsbanki-Icesave collapse. Every one of Iceland’s six electoral districts voted in the “No” column – by a national margin of 60% (down from 93% in January 2010).

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