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I'd imagine the first impact will be that the currency will be worthless, ie no imports at all. All exports will be traded in euros or bartered. The immediate sequestration and sale of all Icelandic owned foreign assets.

Crikey, no oil =  a sailboat fishing fleet. Or the lease of Icelandic fishing rights to foreign fleets.

keep to the Fen Causeway

by Helen (lareinagal at yahoo dot co dot uk) on Mon Oct 6th, 2008 at 02:46:31 PM EST
[ Parent ]
So, beer anyone?

In the end, might makes right. Nothing has changed since the caveman.
by THE Twank (yatta blah blah @ blah.com) on Mon Oct 6th, 2008 at 02:47:49 PM EST
[ Parent ]
Nope. Iceland can't grow barley. Hmm, what can you brew with seaweed ?

keep to the Fen Causeway
by Helen (lareinagal at yahoo dot co dot uk) on Mon Oct 6th, 2008 at 02:50:22 PM EST
[ Parent ]
All manner of foulness.
by afew (afew(a in a circle)eurotrib_dot_com) on Mon Oct 6th, 2008 at 02:53:04 PM EST
[ Parent ]
One could extract iodine which happens to be a reagent for meth.

You can't be me, I'm taken
by Sven Triloqvist on Mon Oct 6th, 2008 at 03:35:00 PM EST
[ Parent ]
You have an interesting store of knowledge there, Sven.

In the end, might makes right. Nothing has changed since the caveman.
by THE Twank (yatta blah blah @ blah.com) on Mon Oct 6th, 2008 at 03:43:46 PM EST
[ Parent ]
It's called wikipedia...

You can't be me, I'm taken
by Sven Triloqvist on Mon Oct 6th, 2008 at 03:51:53 PM EST
[ Parent ]

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