Will Bárðarbunga Eruption Ruin 2015 Crops, Financiers Ponder - The Reykjavik Grapevine

Will Bárðarbunga Eruption Ruin 2015 Crops, Financiers Ponder

Published December 27, 2014

Among ten “outrageous predictions for 2015” published by the Danish Saxo Bank’s Tradingfloor.com, is the possibility that “the already-active volcano Bardarbunga erupts, leading to an unprecedented, further release of noxious sulphur dioxide gases that cloud skies over Europe. The eruption shifts weather patterns, lowering world grain output and leading to the doubling of grain prices.”

John J. Hardy, manager at Saxo Bank, presents the “outrageous prediction”. In the accompanying video he explains that even the fear of catastrophic events at Bárðarbunga might be enough to double grain prices, regardless of actual eventualities.

Danish investment bank Saxo Bank was founded in 1992 under the name Midas fund brokerage. Since January 2014 it has run Tradingfloor.com, a social platform for investors, where users are encouraged to share tips and strategies in finance.

The other nine outrageous predictions for 2015, all involving uncertainties that might seriously affect markets, include a five percent inflation in Japan, global cocoa prices reaching US $5 dollars per kg, Russia defaulting on its foreign debts, and the UK leaving the EU.

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