CALM CHAOS
(published GER, NOR)
"Its healthy once in a while to get grounded. It is a positive outcome from the crisis when you realize that you don't need a lobster dinner or fly to a European city to spend the weekend", says a third generation farmer who now owes the bank 30% more since the nation's bankruptcy.
The Icelanders were the 9th richest people in the world but one week in 2008 changed all that. Now on 19th place according to CIA Factbook the Icelanders are recovering from three private banks collapsed, the krona's value dropped 70% and the stock market lost more than 80% of its value.
“Some people would throw a line like 'I come from this bank let me in.' Now the same people who were ordering 15.000 kronar champagne are getting draft beer”, says 32 year old Ervin Shala (left). He used to work as the doorman at 101 in Reykjavik, a popular night club.
In one week in october 2008 changed everything. Now the Icelanders are recovering from three private banks collapsed, the krona's value dropped 70% and the stock market lost more than 80% of its value.
"Believe me this crisis is nothing new for the Polish," says Artur Wegenka, a Polish migrant worker at Pizza Hut. The customers used to pay with nothing but cards and money notes. Now his delivery boys are returning with a hand full of small coins.
"Very few people benefit from hidden treasures" says this sign. Protestors gather in the thousands in front of the parliament in Reykjavik. The local media is accused for not asking the hard questions. They are owned by the same people who stand accused of overheating the economy.
At the same time new coalition government is accused of thinking about foreign foreign debts more than the big troubles they have caused families in Iceland. The steps to the parliament are chosen as protest grounds for a biker gang.
22 year old sheep barber Chris Heard came from the UK on a one month contract. His salary dropped nearly half because of the currency devaluation. Twice a year the sheep in Iceland have their wool cut and sold. It makes up 20% of the farmers income.
Staðahverfi við Korpúlfsstaði, a newer residential area of Reykjavik, can be seen as a symbol of the epicentre of the nation's bankruptcy. Range Rovers are referred to a "Game Overs" as a reference to the greed that were occupying the streets.
Horses grass the fields in Mosfellsbær, neighbouring town to Reykjavik. Once a horse leaves Iceland it may never return.
Next to highway 1 in Reykjavik there is an open parking lot that caters mostly for trucks and now a stretch limousine.