Entries from Chemicals & The Economy tagged with 'Iceland'
Alaska's lessons for European air traffic control
Somewhere at the back of the blog's mind is the memory of a major 1980 eruption by Mt St Helens in Washington State, NW USA. According to the Wall Street Journal, the lessons learnt by Alaska Airlines from this eruption...
Iceland's volcano shuts down European airspace
Many chemical industry executives will be grounded for at least the next 24 hours, as a major volcanic eruption in Iceland is shutting down airspace in most parts of NW Europe this afternoon. UK and Scandinavian airspace is totally closed...
Greece's deficits threaten the eurozone
Greece's problems are getting worse, not better. And there seems no obvious solution to them. Does this matter to the chemical industry? Yes. Greece may not be a major player in chemical markets. But it is a member of the...
Anger takes centre stage at bankers' $65bn bonuses
Iceland, "the first country to be run like a hedge fund", was the original warning sign of the current financial crisis. Today's chaos in the country, following its rejection of the €4bn bank compensation deal agreed with the UK and...
Germany calls Greece's problems "tip of the iceberg"
Financial crises take time to mature. Yet until the end is nigh, apologists will insist that nothing needs to change. Thus valuable time is wasted. Last year, Iceland was the obvious example of this problem. Now it is Greece, a...
The Latvian canary
Coal miners used to take a canary with them, to help detect poisonous fumes. If the canary stopped singing, then they knew there was a problem. This led to the concept of "the canary in the coalmine acting as a...
Eurozone under pressure
Early last year, the blog flagged up a warning from Gillian Tett in the Financial Times that Iceland could go bankrupt, as its banks were "too big to rescue". Yet at the time, the United Nations had listed it as...
Iceland calls in IMF
As the blog predicted, Iceland has been forced to call on the IMF for help. Finally, the country's leaders have recognised that their $20bn economy couldn't support the level of debt built up during the 'go-go' years. The pity is...
Iceland on the brink
Last March, the blog noted an excellent article on Iceland by Gillian Tett of the Financial Times. She argued that Iceland was 'the first country run like a hedge fund'. And she worried that its banks might prove not 'too...
‘Too big to rescue’
Readers will know that I am a great admirer of Gillian Tett’s analyses of banking issues in the Financial Times. Today, she has another thought-provoking article, this time on the emergence of Iceland as ‘the world’s first country run like...
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