So what's up with Iceland's 'national bankruptcy'? A possible explanation

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11-06-2008 @ 9:42AM

nzm said...

Iceland in winter would be amazing. As a photographer I'd love to go there at that time of year, having only seen it during summer so far.

As you said, Jerry, the reason for the IMF bailout was so that Iceland didn't fall into Russian hands. Strategically and politically, it's still an important speck of real estate for the UK and USA, even if the latter did close down its NATO base at Keflavik a couple of years ago.

But don't kid yourself that you're going to find things are much cheaper now. Costs will still be high in comparison to other countries but they'll now be more bearable rather than the jaw-dropping exhorbitant charges that they were a couple of months ago when the kronur was stronger!

Living in Germany, I can't see how you can write that the country is financially weaker right now. Certainly for residents, prices haven't decreased, and any reductions in hotel and airfares that you're seeing would be, in part, a reflection of the change in season to winter - i.e. wetter and colder, therefore less attractive to the traveller.

However the Christmas markets would be a major incentive at this time of year - they're an amazing experience.

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