September 2011, I will be visiting Iceland, hope it is still there.
WE have family in Iceland. Our middle girl and her spouse own 6 houses up in the Western Fjords. Last year things were so tough that the Icelanders stayed in Iceland for their holiday time rather than going to abroad. Most of those renting the summer homes up in the fjords were from Germany.The kids just got back last week and said it is now very expensive there. We go back in May to work on the houses to get them ready for the summer.
One thing some may not know is that the funds that the Iceland banks took I believe from the UK was invested in the good ol USA subprime mortgages..problem was they didn’t have the backing to make such loans. There was a big article on this in an issue of Vanity Fair last year.
Last year when I was there in Mar and April the exchange rate was about 124isk to the dollar. The second time which was in June/July there was a period when the exchange rate was 131isk to the usd. Yesterday it was 127.77 to the US dollar but in 2008 it averaged about 72isk to the dollar.
And to think this country has people so stupid as to want to go along the way of massive socialism. Incredible.