Angry Iceland Takes on Global Credit Crunch Capitalists

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Angry Iceland Takes on Global Credit Crunch Capitalists

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Ice-cold Icelanders demonstrated today outside their parliament, the Althingi, angry with the country's descent into economic crisis. Around 4,000 to 5,000 people gathered in the capital Reykjavik out of a national population of 320,000. They are upset at how the country - called last year by the United Nations the best place in the world to live - has seen its currency collapse and people lose their savings. Many are losing their jobs and a recent survey found a 1/3 of Icelanders are planning to leave the country. Most seem either shocked, angry or glum.

Braving minus 4 celsius temperatures and bitterly cold winds, the demonstrators let off fireworks outside the Althingi and laid protest placards and symbolic potatoes at its doorstep. The potatoes are what many Icelanders see as their food mainstay in the coming months, as imported luxury foods become too expensive for the weakening Krona to buy. Potatoes are also what naughty children get at xmas time.

Iceland had been enjoying an admirably comfortable way of life as the country boomed as a banking and investment hub to the world. Sleek boutiques, design sensibilites torn straight from the pages of style guide Wallpaper, and gourmet food served by top restaurants, had become the norm for this small country. 

On the positive side, the country is now more affordable for tourists. Where once main courses in the excellent restaurants went for £30, they now cost £15. The country is well-known for its fish and lamb dishes, and pioneering Scandinavian cuisine.