Gylfi Gunnarsson, a fishing operator on Grímsey, Iceland’s northernmost inhabited island, will be forced to sell the 300-ton fishing quota in his possession away from the island because his company is heavily indebted and he has been unable to reach an agreement with the bank.
Gylfi’s quota accounts to one third of the quota held by local companies, ruv.is reports. Losing it from the island will be a huge blow for the 70-person community (the number of inhabitants grows to approximately 90 in summer), where fisheries is by far the largest industry.
It was recently reported that the future of life on Grímsey is in jeopardy because of the local economic situation. Solutions to the problem are being sought but the suggestions proposed so far have been disputed.
Þóroddur Bjarnason, chair of the board of the Institute of Regional Development in Akureyri—Grímsey belongs to Akureyri municipality—said the decision as to whether the population can remain on the island will be a political one.