Thursday, April 10, 2008

Iceland and Money

Iceland is fully a part of Europe and it has a social welfare system modeled after the Scandinaivian countries. The government manages a wide range of benefits for all citizens. Like Scandinavian countries ,there are very high taxes on goods and the incomes of citizens level out after income taxes.

Iceland is not a member of the European Union and does not use the Euro as currency.

The króna is the currency in Iceland.

(króna coins- cute fish!)

100 ISK (
króna) is worth about $1.38 in US currency and .87 Euros.

About 7,229.04 ISK will get you this cool painting by Icelander Tinna Eik on

The Icelandic economy is not as reliant on visual artists and musicians as it is on the fishing industry. Seventy percent of their exports are fish.

Check out those economics!

Manufacturing medical supplies, Aluminum Smelting and Textiles are also important exports from Iceland. But they are not nearly as delicious as fish:


B said...

mmmmmmmmm fish.

not to bring him up again, but all the fish talk reminded me. i saw an episode of andrew zimmern not too long ago and i think it was about iceland. anyway, something about some sort of shark they eat that has to rott for quite a while to remove a poisonous acid...YUM.

tinnaeik said...

Thank you for this...this is great:) I don't think I have anything too add but we make a lot of money from the travel industry too:)

b you're right about the shark unfortunately...I also saw it on Gordon Ramsey once and he threw it up! I tasted it once and it kinda tastes like you would imagine a toilet to taste like if it hasn't been cleaned in 5 years...and it smells like it too!

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