Find dragons, save the economy

In the last straw and hail mary departments of Icelandic politicians, Drekasvaedid or the “Dragon Area” is a firm favorite. 

An area in the ocean NE of Iceland that some believe holds the key to the oil riches that are going to make Iceland into one of the richest countries in the world…for real this time. 

Ossur Skarphedinsson, minister of industry for example uses the Dragon Area frequently when otherwise lost for words in the mess that is Iceland’s industry policies. When the National Broadcasting station needs a positive filler, someone is asked to speculate on the riches of Kroesian proportions that await. 

Yet, the explorations so far have yielded nothing concrete and it is going to be decades before Iceland could realistically benefit from the Dragon Area.  But it doesn’t stop my eleven year old brother in-law from dreaming of the oil that is going to save Iceland from the crisis. 

Today we thought of a better idea. What if they actually found dragons?

What is the difference between one fairy tale and the other?

Elvis Has Left the Mountain

Davos humor: What is the capital of Iceland? Answer: $25.

From Thomas Friedman’s blog

Pin striped Santa Claus fails in buying the law

When Bjorgolfur Gudmundsson was given the wealth of Iceland in the form of Landsbankinn by the Independent Party he has always supported he tried to buy the country’s integrity as well.

From Wikipedia:

“Hafskip was Iceland’s second-largest shipping line before its collapse which became a national scandal.

The firm had fallen deep into debt and might have sunk quietly had it not been for its ties to Iceland’s finance minister, who was its former chairman and still a shareholder. Instead, its insolvency in late 1985 became a fuel for rival politicians, and ignited a criminal investigation which lasted six years.

Björgólfur Guðmundsson and other executives from Hafskip had been detained and later charged with 450 criminal counts, from embezzlement to fraud. Gudmundsson was found guilty on five counts of minor bookkeeping offenses and sentenced to 12 months’ probation.”

After Bjorgolfur made billions from the bank he was given from his political allies he tried his utmost to influence how his name would be written in Icelandic history. No bank was more generous with its donations to the arts or sports and everywhere you looked you could see Bjorgolfur cutting a ribbon, doing his best to enhance the image of him as a pin-striped Santa Claus. Guilty concience?

Bjorgolfur then commissioned a “historian” to write a favorable account of the Hafskip-issue and the whole publishing campaign was geared towards making it look like a genuine work. Around the same time, he and others found guilty tried to re-open the case to clear their name. 

Which the attorney general has now denied.

Bjorgolfur’s name in Icelandic history will be synonimous with greed, political nepotism and moral collapse. One can only help wondering if the attorney general’s verdict would have been different two years ago or if it hadn’t then would the Independent Party have appointed a new one as soon as possible. 

Bjorgolfur would certainly have paid, with the money given to him by the party.