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'That's good though, they are the I-generation; iPods, iPhones, everything starts with I. Well, we will have to go back to the basics now. Icelanders are risk-takers, but hard working, they will have to downsize. We will have to eat haddock and Icelandic lamb and forget these imports of goose livers and Japanese soy sauce. When everyone was extremely rich in Iceland - you know, last month, it was with money that they never have earned. Now those who were extremely rich are just normally rich, but they think they are poor. They were spoilt, spending billions.'

Siggi Hall- Chef- Iceland.

More on Iceland's rags to riches and back to rags ride here..

Posted by Ed Cotton Iceland has become something of a poster child for a country that borrowed too much money and sucked in cheap capital.

The country's banks got more than a little carried away.

According to The Financial Times.

"The witch-hunt is sustained by a sense of injustice that these upstarts got so big in the first place – combined assets of the top three are about nine times Iceland’s gross domestic product."

The banks are now of course in terrible trouble forcing the Icelandic government to bail them out with money it doesn't have.


Posted by Ed Cotton One of the most important trends to look for in 08 is the continuing battle between nationalization and globalization.

It will impact everything from politics to branding.

The power and importance of national tradition is nicely represented in a new film by the Icelandic band Sigur Ros.

Sigur Ros are one of the most interesting and enigmatic bands around; despite signing in their native Icelandic, they still manage to have garnered a massive worldwide following. Their music is a cacophony of pure emotion and atmospherics that renders the meaning of the lyrics un-important.

In 2006, after months on the road, the band decided to return to Iceland and tour the country appearing at surprise free concerts across the island.

It was a return to the brands roots and a thank you to the country that made them. The result of the tour can be seen in the documentary Heima.



The film is a stunning exploration of the band, its music and the country of Iceland as told through a series of incredible performances that take place in the most unlikely surroundings; the bottom of a fish oil tank in a deserted fish factory, outside a village church, inside a village hall, in the middle of a beautiful valley and somewhat more expected in front of 25,000 fans in Rekyivaik.

In a way, the film is a tribute to the strength, importance and resilience of local roots and tradition.

It shows the band collaborating will local musicians, brass bands and artists.

All the shows are wonderfully shot and edited in a way that seamlessly blends, band, crowd and country.  It gives you an understanding of what the band is made of and the atmosphere and surroundings that have played a role in shaping the bands’ unique soundprint. At the island concerts, instead of the expected crowds of hip Icelandic youth, those attending are multi-generational with equal numbers of starry-eyed grandparents and grandchildren.

Heima shows a Sigur Ros keen to resist the commercialism at all costs approach and remain firmly attached, committed and passionate about the island they come from.

Posted by Ed Cotton the importance of local (37.848290306973134 , -122.55437850952148) A couple of interesting examples of "local" as an important concept.

1. Sigur Ros

A new documentary from Sigur Ros about the band returning from a world tour to Iceland and seeking out small venues, so they could  re-connect with their home country and people.



2. ANA

Ad for Japanese airline ANA that appeared in September's Monocle magazine  highlighting the localness of the airline's cuisine, even down to the prefecture.



Posted by Ed Cotton