Iceland

By Barnaby Phillips in Europe on December 16th, 2011
Iceland's foreign minister has held talks with EU on accession [Reuters]

It has a governing coalition that is split by differences over the EU, and the Euro. It’s an island, with its own distinct history. And it has a cold, harsh climate. No, not the UK, but Iceland.

 

The country that went so spectacularly bust in 2008 is showing signs of life. In Iceland, the economy is growing, government debts are under control and unemployment is falling.

 

Not that everybody agrees there is a recovery. On the edge of Reykjavik, I watched hundreds of people queuing up in the snow for food hand-outs.

 

By John Terrett in Americas on April 19th, 2010
Photo by Reuters

The International Air Transport Association has projected that worldwide airlines are losing more than $200m a day because of disruption caused by Iceland's volcanic ash cloud.

In the United States the five major carriers who fly to Europe are estimated to have lost millions of dollars just at the time their fortunes were thought to be looking up.

That's because this week US airlines start revealing their earnings for the first three months of the year and analysts have high hopes they'll turn in smaller losses.

Peter Goelz, an airline analyst from O'Neill and Associates here in Washington DC told me:

It's gonna look pretty good compared to the previous years and it will look like they're on their way towards potential profitability.

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