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EFTA Court Finds Icelandic Loans to Be Illegal

The EFTA Court ruled on Monday that it is not in compliance with the EU directive to base agreements for indexed consumer loans on zero percent inflation. Icelandic courts are to evaluate what effect the false information has had and what measures can be taken in response.

Major Storm Warming for Iceland on Sunday

The Icelandic Met Office has issued a warning as a major storm is expected to hit Iceland on Sunday afternoon and last until late on Monday. The wind speed might reach 20-30 m/s on Sunday, or 110 km/h (65 m/h). On Monday, squalls near mountains might reach 50 m/s, or 180 km/h (112 m/h).

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Airwaves

Wayne in the Sky with Balloons

The Flaming Lips close Iceland Airwaves 2014 in a style that can only be described as ecstatic, confetti-crazed and completely over the top. The War on Drugs as a warm-up is not bad either, even without the gimmicks.