Iceland

Tax avoidance scandal wracks Iceland

By Jordan Shilton, 7 April 2016

Iceland’s Prime Minister Sigmundur David Gunnlaugsson announced his resignation Tuesday, before subsequently declaring that he had merely stepped aside temporarily.

Iceland’s government seeks to abandon EU membership negotiations

By Jordan Shilton, 29 March 2014

The government’s decision to pull out of talks with the European Union over membership has led to a series of protests.

Governing coalition suffers huge losses in Iceland

By Jordan Shilton, 29 April 2013

Voters in Iceland have inflicted a massive defeat on the Social Democratic-Left Green coalition, which has ruled the country for the past four years.

Anti-government sentiment dominates elections in Iceland

By Jordan Shilton, 26 April 2013

Elections in Iceland this weekend are likely to see a massive anti-government vote, putting an end to four years of rule by the Social Democrat-Left Green coalition.

Iceland holds referendum on new constitution

By Jordan Shilton, 7 November 2012

A referendum in Iceland on October 21 saw voters approve several amendments that could result in the redrafting of the country’s constitution.

Iceland’s former prime minister acquitted over role in financial crisis

By Jordan Shilton, 3 May 2012

Last week, Iceland’s high court, the Landsdómir, acquitted ex-Prime Minister Geir H. Haarde of all major charges in the case brought against him over his role in the 2008 financial crisis.

Iceland’s ex-prime minister on trial over role in financial crisis

By Jordan Shilton, 16 March 2012

The trial of Geir H. Haarde, Iceland’s prime minister prior to and during the financial crisis of 2008, began in Reykjavík last week.

Serious overcrowding in Irish hospitals

By Robert Fowler, 10 January 2012

The recent budget issued by the Fine Gael/Labour government includes a further €543 million in health cuts, which will sharply erode health care in Ireland.

Iceland’s former prime minister charged with negligence over financial crisis

By Jordan Shilton, 5 July 2011

Former Prime Minister Geir H. Haarde became Iceland’s first leading political figure to be charged for his part in the 2008 economic collapse.

Iceland voters reject IceSave agreement

By Jordan Shilton, 16 April 2011

In a national referendum last Saturday, a large majority of Icelanders opposed being made responsible for the repayment of billions of euros resulting from the collapse of the country’s banking system in 2008.

Mass anti-government protests in Iceland

By Jordan Shilton, 8 October 2010

Large protests have been held in Reykjavík over the past week, as anger over Iceland’s ongoing economic problems mount.

Arrests follow publication of report on Iceland banking collapse

By Jordan Shilton, 3 June 2010

April saw the release of the “Black Report” by a committee of Icelandic MPs in to the banking collapse that hit the island’s economy in 2008. Based on its findings, several arrests of leading figures in Icelandic financial circles have taken place.

Mounting international impact of European air traffic crisis

By Stefan Steinberg, 21 April 2010

As the air traffic crisis continues, European governments are responding to lobbying by the airlines and corporate interests, but providing no effective assistance to millions of ordinary people stranded abroad or unable to travel.

Iceland to commence EU accession talks

By Jordan Shilton, 25 March 2010

The European Commission announced last month that it was prepared to commence talks with Reykjavík on terms for Iceland’s membership.

Iceland: Overwhelming rejection of Icesave bill in national referendum

By Jordan Shilton, 9 March 2010

Saturday’s referendum in Iceland on whether to accept a deal to pay back nearly €4 billion to Britain and the Netherlands resulted in a massive “no” vote.

Icelandic government seeks renegotiation of Icesave deal as economic crisis continues

By Jordan Shilton, 4 March 2010

Iceland is seeking to renegotiate the terms of a deal made with the British and Dutch governments on repayment of money paid out to citizens of their countries in the aftermath of the collapse of an Icelandic bank.

Iceland: Vote “no” in IceSave referendum

By Jordan Shilton, 3 March 2010

Working people must vote “no” in Iceland’s referendum on the IceSave agreement on March 6.

Iceland to hold referendum on international debt repayments

By Jordan Shilton, 21 January 2010

Iceland’s Social Democrat-Left Green coalition has confirmed that a referendum on whether to honour the agreement to repay Britain and the Netherlands a total of €3.9 billion by 2024 will be held on March 6.

Iceland’s president vetoes IceSave law

By Jordan Shilton, 8 January 2010

Iceland’s president has refused to sign into law the Icesave bill—stipulating terms for the repayment of loans to Britain and the Netherlands—which will be put to a referendum instead.

What does Iceland’s “national assembly” represent?

By Jordan Shilton, 30 November 2009

On November 14 a “national assembly” was held in Reykjavik, involving approximately 1,500 participants, or 0.5 percent of the population.

One year since banking collapse, Iceland’s crisis deepens

By Jordan Shilton, 12 October 2009

Over the course of several days last October, Iceland’s banking system collapsed.

Iceland: Bank bailout and corruption scandals fuel protests

By Jordan Shilton, 24 August 2009

Protests continue to mount in Iceland against the government’s bank bailout at the expense of working people. On 13 August, 3,000 gathered outside the Icelandic parliament in Reykjavik, the largest since mass demonstrations toppled the former conservative-led government of Geir Haarde in January.

Iceland’s parliament votes to apply for European Union membership

By Jordan Shilton, 25 July 2009

On July 16, Iceland’s parliament (Althingi) voted by 33 votes to 28 to apply for membership of the European Union.

Iceland: Government and trade unions impose IMF austerity measures

By Jordan Shilton, 14 July 2009

On June 26, a comprehensive agreement was announced between Iceland’s government, trade unions and employers’ organisations containing plans for sharp public spending cuts and tax hikes.

Iceland: Social democrats and Left Greens finalise coalition agreement

By Jordan Shilton, 23 May 2009

The new Icelandic government takes office committed to continuing the IMF measures which put the burden of the country’s banking crisis on to the working class.

Iceland: Social Democratic-led coalition secures victory in early elections

By Jordan Shilton, 29 April 2009

The ruling coalition of the Social Democrats (SDA) and Left Green Movement secured a parliamentary majority in Iceland’s elections.

Iceland: Social democrats and Left Greens pledge to continue coalition after elections

By Jordan Shilton, 18 April 2009

As Iceland prepares for early elections scheduled for April 25, the Social Democratic Alliance (SDA) looks set to emerge as the largest party.

Iceland: Government bank takeover increases threat of state bankruptcy

By Jordan Shilton, 16 March 2009

Iceland’s financial supervisory authority has been forced to assume control of Straumur, the island’s fourth-largest financial institution.

Iceland: New government pledges continuation of IMF austerity programme

By Jordan Shilton, 11 February 2009

Iceland’s new coalition government between the Social Democratic Alliance and the Left-Green Party presages significant cuts in social spending.

Social democrats to lead new Icelandic government

By Jordan Shilton, 31 January 2009

Iceland’s Social Democratic Alliance is to lead the country’s new government in coalition with the Left Green Party.

Protests over economic crisis topple Icelandic government

By Barry Grey, 28 January 2009

The collapse of the right-wing Haarde government in Iceland is the sharpest expression to date of the growing social and political turmoil across Europe arising from the economic crisis.

Iceland: Angry protests over economy force early elections

By Jordan Shilton, 24 January 2009

Special forces had to rescue Iceland’s Prime Minister Geir H. Haarde in the early hours of Thursday morning, as ongoing protests over the country’s economic crisis erupted into angry clashes outside parliament. On Friday, Haarde announced early elections for May 9.

Iceland faces rising unemployment and rampant inflation

By Jordan Shilton, 20 December 2008

Protests continue in Reykjavík to demand the resignation of the government and central bank chiefs and the holding of fresh elections. Opposition has also been expressed to the privatisation drive resulting from the government’s acceptance of an IMF-backed loan.

Iceland: A portent of the future

29 November 2008

Iceland is facing a social and economic catastrophe. Its 300,000 people have suffered the worst and most immediate impact of the worldwide financial crisis of any advanced country. For that reason, the events in Iceland offer a portent of developments that must inevitably unfold in much larger nations and on the international arena.

Iceland: Street protests against government and economic meltdown

By Jordan Shilton, 29 November 2008

Thousands protested in the Icelandic capital Reykjavik last Saturday, calling for the resignation of the government and for early elections. The protest follows weeks of unrest on the streets, in the aftermath of the banking collapse last month that left the economy in meltdown.

Huge IMF bailout for emerging economies

By Peter Symonds, 1 November 2008

The International Monetary Fund (IMF), backed by central banks in the US and Europe, has taken drastic steps over the past week to prop up so-called emerging economies around the world from Asia to Eastern Europe and Latin America.

Britain and Iceland in bitter conflict over banking collapse

By Jordan Shilton, 14 October 2008

A comment in the Telegraph was entitled "Iceland should turn to IMF, not Russia". It hoped that Iceland would accept help from the IMF rather than negotiate a loan from Russia since the strings attached to such IMF assistance would be "sensible and financial rather than strategic and dangerous." It threatened Iceland that "Unless it wants to become a pawn in a geopolitical power play, Iceland should welcome the fund with open arms."

Britain and Iceland in bitter conflict over banking collapse

By Jordan Shilton, 13 October 2008

The seizure of £4 billion in banking assets by the British government is the most extraordinary move in the escalating hostilities that opened up following the collapse of Iceland’s major banks last week.

Iceland faces national bankruptcy

By Jordan Shilton, 10 October 2008

Iceland’s entire banking system is in danger of collapse. On Wednesday Kaupthing Bank, Iceland’s largest bank, became the third financial institution to be taken over by the government, joining Landsbanki and Glitnir, Iceland’s second and third largest banks.

Iceland suspends trading in bank shares as financial crisis hits Scandinavia hard

By Jordan Shilton, 7 October 2008

Iceland’s Financial Services Authority yesterday suspended all trading in the shares of all financial instruments issued by its major banks--Exista , Glitnir, Kaupthing, Landsbanki, Straumur-Burdaras and SPRON.