Iceland: frozen assets

Six months ago, Iceland was one of the world’s richest nations. Now it’s bankrupt. AA Gill visits the first victim of the economic ice age

In the summer of 1783, there was a volcanic eruption in the southeast of Iceland that vomited lava into the Skafta river, which boiled and ran with fire like a mythological Nordic curse. The volcanic gases were toxic and poisoned animals in their byres. Seething clouds of opaque ash plumed into the sky, blotting the

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