Iceland Bank Crisis

European Parliament Member and Investigative Judge Eva Joly received the Global Financial Integrity 2010 Exemplary Leadership Award in Washington DC e...

The system used by the Iceland's ruling caste to launder ill-begotten gains is simple to describe. The result is simpler still: The rich got richer and the government got stuck with the bill.

I believe the Icelandic people are willing to undergo hardship to help our country recover from the catastrophic collapse, as long as the hardship is spread throughout the population, and those who unjustly profited from their decisions are put in their place.

This summer's special income/tax issue of the Icelandic business magazine Frjáls Verzlun is at once a bottomless source of nauseating news and a test...

In his last two posts, blogger Daði Rafnsson looks back at the words of an Icelandic political legend, Vilmundur Gylfason,

I have always imagined that a totalitarian state would resemble Stalin's Soviet Union, but it has dawned on me lately that the most effective totalitarian regime would be one that no one (on the inside anyway) would recognize as such.

There is a human tendency to want to move on, to sweep unpleasant episodes under the rug, and to act like everything is hunky dory. We cannot allow this to happen this time.

A new political party -- the modestly named The Best Party (Besti Flokkurinn) -- led by comedian Jón Gnarr, has thrown a scare into Iceland's powers-that-be by receiving the most votes in Reykjavik's municipal elections yesterday.

Now that the banks have been stabilized (to some degree) as a result of massive public intervention, the very individuals who have nearly destroyed the country are ready to dance again.

While Icelanders have been endlessly debating IceSave, our unemployment rate has continued to climb, the number of insolvencies has continued to increase, and public services have continued to decrease.

What is especially disheartening in Iceland is that, not only did the bankers retain their compensation; they continue to draw salaries in their new positions of authority in the new banks and in the government.

It's incumbent upon the Icelandic media and political establishment to educate the public on the reasons for and against Icesave. If we're serious about fighting for political reform and transparency that our country needs, here's a good place to start.

Total financial collapse, once a problem only for developing countries, has now come to Europe. The International Monetary Fund is imposing its "austerity measures" on the outer circle of the European Union.

I believe that none of the Icelandic political parties are actually standing up for the average Icelandic person.

While legislators were hammering out a deal that would keep Iceland from being labeled a pariah state by the IMF and ratings agencies, President Ragnar was protecting his oligarch friends.

The Icelandic people will, for the first time, directly exercise the nation's sovereign power in a referendum in March to approve or reject the proposed settlement of the IceSave dispute.

This has been a very rough year for Iceland, and it's not likely to get better anytime soon. The public's anger continues to grow, and it would not be surprising if this winter sees a repeat of last winter's uprising.

In her article, Mme Joly denounces what she calls the "blackmailing of Iceland" by a number of states, as well as the IMF and the EU, into taking on billions of Euros in debt.

Any doubts as to whether Iceland's elite has declared war on its people were dispelled this weekend.

REYKJAVIK, Iceland — The second richest man in Icelandic history has filed for bankruptcy, his spokesman said Friday. Bjorgolfur Gudmundsson, t...

The people of Iceland are known for their resilient, go-it-alone character. It is the result of a forbidding geography: endowed with a rugged terrain ...

This classic case of incestuous nepotism reflects a prevalent trend in the Icelandic commercial sector.

The lack of clear ethical rules and the frontier justice mentality in Iceland continues to cause confusion and raise questions about the legal profession's ability to regulate itself in Iceland.

What we need now is for our government to stand up for us the way the British and Dutch governments have stood up for their citizens, and to reach an arrangement that is equitable for all.