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Moody’s With Negative Outlook On Iceland

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Published July 27, 2012

Financial analysts Moody’s have released a new credit report on Iceland. Meanwhile, the economy continues to recover.
While Moody’s has been cautiously optimistic about Iceland’s overall economy, their latest credit analysis once again offers a mixed – but more negative – outlook on Iceland.

In its annual credit report on Iceland, Moody’s Investors Service says that Iceland’s Baa3 government bond rating is based on the country’s moderate economic and high institutional strength as well as low government financial strength and high susceptibility to event risk. The downside risks facing Iceland’s sovereign creditworthiness are reflected in the currently negative outlook on the rating.

In related news, Iceland’s economy continues to recover. Inflation is now at 4.6%, decreasing by 0.7% from the month previous. Unemployment is also quite low, at 5.2%. Also of note: the number of bankruptcies has decreased by 30% from this same time last year.



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Directorate Of Health Wants Junk Food Tax

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The Directorate of Health wants to see taxes increased on candy and soda, and decreased on fruits, vegetables and fish. MBL reports that the Directorate has grave concerns about the eating habits of Icelanders, and are particularly worried about a government proposal to lower the so-called “sugar tax”. The Directorate believes that reducing consumption of certain foods and increasing consumption of others requires government intervention in the form of how these foods are taxed. According to a report from a work group under the jurisdiction of the Ministry of Welfare, about 21% of adult Icelanders have a BMI of 30

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Airline Row Going To EFTA

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A legal dispute between WOW Air and Icelandair will be appealed to the European Free Trade Association (EFTA). A decision from the Supreme Court reversed an earlier decision made by Reykjavík District Court, which ruled that the dispute would not go to EFTA. The original request to take the dispute to the international authority was made by Icelandair and Isavia, the company which operates Keflavík International Airport. WOW Air originally filed the legal complaint, against both Icelandair and Isavia, as well as The Competition Authority (ICA). The dispute centres around the parsing out of flight times between the two airlines,

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VIDEO: Killer Whales Playing By Bolungarvík

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An alert journalist in the right place at the right time recorded killer whales frolicking off the coast of Bolungarvík, in the Westfjords of Iceland. Víkari, Bolungarvík’s news outlet, reports that Guðbjörg Stefanía Hafþórsdóttir spotted three killer whales off the coast of Ósvör, just east of Bolungarvík. As their play intensified, they eventually swam right by the Bolungarvík harbor. Guðbjörg managed to record two of the whales swimming about ten  metres from shore, gleefully playing with an eiderduck, throwing it around (nobody said killer whales were particularly nice), which you view  below. Killer whales only number in the hundreds around

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Bárðarbunga Volcano Watch: The Afternoon Edition

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Volcano watch is still in full swing, but no eruption yet. In the meantime, here’s a roundup of the day’s Bárðarbunga news so far: 13:23 – The closure of the area north of Vatnajökull glacier has already lead to significant financial losses for the local tourism industry, reports RÚV. In light of recent evacuations, mountain huts and guest accommodations at Kverkfjöll and Askja have had to close now for the winter, nearly a month earlier than planned, despite nearly full bookings for the remainder of the season. 12:53 – Should this eruption occur, Friðþór Eydal, a spokesman for ISAVIA, which

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RÚV Backtracks, Prayers Back On Air

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Iceland’s National Broadcasting Service, RÚV, have backtracked their recent decision to take prayers off air following a meeting with the Bishop of Iceland. As reported, RÚV planned to remove daily morning and evening prayers, plus programmes in which scripture is read out and replace it with a single once-per-week programme examining theology, the culture of religion and society.  Morning prayers and the nightly programme, Orð Kvöldsins (Evening Words) featuring scripture will remain on the radio’s roster. “It is important that words of prayer are heard in the media age,” said Bishop of Iceland, Agnes M. Sigurðardóttir, who welcomed the decision to keep morning prayers,

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Twitter Flooded With Cowabunga Bárðarbunga Jokes

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In anticipation of Bárðarbunga’s possible eruption, social media users have been busy sharing their thoughts on the volcano. Many of these tweets are helpful, pointing travellers to vital resources but an alarming number use Bárðarbunga as a segue into some kind of Cowabunga joke. Presented here is a selection of tweets collected by the Grapevine. Helpful Dear people, please stay updated through safetravel.is regarding #bardarbunga volcano. — I heart Reykjavík (@IheartReykjavik) August 19, 2014 Pretty cool visualisation of #Bardarbunga‘s seismic activity. Updated every minute. http://t.co/H7u0ic5fJW — Ómar Kjartan Yasin (@omarkj) August 19, 2014 Follow the development in #Bardarbunga at our Facebook page https://t.co/EeMH2MgxKB

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