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Credit Crunch hits Eurovision
Iceland delays submissions
The move comes after the small island nation was hit particularly badly by the global financial crisis. Two banks have collapsed and the island's currency has been hit hard, almost bankrupting the nation. As a result, the broadcaster has had to dedicate the majority of it's efforts on covering the crisis and it's own position in the turmoil. The national economy was saved from disaster by an emergency loan from 2009 Eurovision Song Contest host nation, Russia of € 5.4bn.
RUV has extended the deadline, initially set for 13th October by an extra week to allow record companies, artists and composers to finalise their entries and submit them for consideration in the final.
In 2008, Euroband won the competition and went on to become Iceland's first Eurovision Song Contest entry to qualify from a semi final.
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No Iceland hopefully
Things are going to be hard for ALOT of countries...
i Heard that at Turkey and Hungary they had underestimating of their money......!!
Ofcourse i saw what happened at Iceland(at our tv they showed how things changed there an that how "maybe" lifes of people arround the world can change).iam so sorry for Iceland and i hope everything will be ok soon.
I can see a change even at my country and from what i hear the worse is coming.....!
Poor Iceland, poor Icelanders treated like terroists 
Im Conservative, in no way do I support Gordon Brown, but the fact of the matter is that Iceland hasnt guaranteed our money back, so instead of giving the money to the entry fee, Iceland should put the money towards giving the UK back its money. They have stolen it as they are not allowing the British Public access to their money, its all been blocked out. They are using our money to fix their problems and the UK (Labour or Conservative) wont stand for it and will get our money back from Iceland one way or the other.
And its not just UK imposing terror laws its USA (yeah we know you dont like our friends the USA ) as well.
Before spending money on any television contests Iceland should be giving back the UK economy the money it owes.
And by the way ..... Gordon Brown does not speak for the British people with any elected mandate. He was never elected the Prime Minister by the British Nation so dont hold us responsible for his bizzare claims about the Icelandic liquidity problems.
Get a grip you people. This is all a result of an unregulated global market economy. Bad decisions have been made by unscrupulous "financial experts" in the Financial sectors fuelled by there desire to secure large bonuses. Collectively the worlds governments have failed to legislate to control these peoples activities. Ordinary people have nothing to do with the causes of it. It also has nothing to do with the ESC so stop being rabidly nationalistic and drop the subject.
Avatar Lordi, is that what your media sais???
Theft is when someone takes something from someone on purpose. How come you find it out that whole Iceland STOLE money from UK??? I know , british media told so!!!!! And they also told that the money that got lost were not going to be payed back. That was all wrong!!
Common public in Iceland has Nothing to do with this!!! This is partly icelandic's governments faul.... and mostly about 30 people's faul who ran their banks as foolish greedy dumbassess. Results were bankruptcy - so that is what we call... stupid business men losing money - but not whole country stealing money!!
Now lot's of people in UK, lost money through "icesave". So did people from Netherlands and so did People from Iceland. Or didn't the british media mention that? Oh no they just mentioned what Gordon Brown said?
Public in Iceland is also mad to the governemnt for being reckless and careless, not listening to warnings and to those so called "businessmen". Yep people here are mad to them. Now what did Gordon Brown do? put a terrorist law on icleand LMAO........ for??? for his own good maybe? That's what he did Instead of trying to solve it easily - Like Netherlands government is trying.
Now our government is going to take a loan, so they can pay the people who lost their investments. But they are not the only one who are responsible, also these reckless business men!! -------- but the public in Uk blames common people in iceland.....yeah sure. For example i had NOTHING to do with this......but i guess i wouldn't be safe going to Uk.
I've read that Russia gave 30billion to Iceland .....mmmmmmmmmmmmmmmm who will Iceland give 12points this year ????? 
i hope that Iceland will recoiver because its such a great and beautifull country .....anyway i think that we will have a big economic problem from now on
"If Iceland goes bankrupt, does that mean that I can buy the country and represent it at the Eurovision each year? "
Who would want to represent it???
I hope Iceland doesnt enter at all. Theft is a crime. But then people will back Iceland as no one likes the UK as UK and Germany are really the only powers left in Europe, the rest...
Anyway, you hate Uk and that is what Europe bases its decision on in May, not music. If Germany and UK didnt have money to enter there would be no contest. Iceland has stolen money from the Uk putting YOUR Eurovision Song Contest 2009 in danger.
Even after being presented with the facts Im sure youll still back up Iceland, who are thieves, but hey they stole from the big bad UK so its alright is it, no its not.
And that is why UK and USA are taking Anti-terror measures against Iceland.
"seeing as they stole Billions of pounds from us lol!"
I'm so sicking tired of these damn ignorant brits bullshitting that ICELAND stole money from UK. Yeah and then is all the nation to blame. It was few people's to blame, not the entire nation you %#"#$%!!!!!!! and people here in iceland also lost big investments.
It was never stolen. It got lost with bankruptcy of the banks... so icelandic government is going to take a loan to pay people back. But i also saw that the brittish media said something else.. so maybe no wonder british people say such bullshit.
JUST WANTED TO CORRECT THAT!
does your employer know you seem to spend all day, every day on this website?
LOOL
Poor Iceland, btw.
ok guys I understand, i leave you al for now....
Works in the City!!!
With grammar and writing like that i suggest that he is not a city banker, maybe sweeps the floors.
The 2009 entry - Iceland
We are sorry - the former directors of Icelandic banks
(a kind of remake of that hihoho-song but instead sorry sorry)
They just give them time for a new Gledibankinn....
Money flies by in the age of Internet
Faster every day, faster every night
Are you sometimes pondering over your blocked savings
Perhaps you have been putting too much money on the Bank of Ice
Cheer up and tie up all loose ends
Never deposit, you can not withdraw
The sins that you never committed lie dormant
A blocked account at the Savings Bank of Ice
Is that your problem my friend ?
Can't believe you work in the City of London marc x........does your employer know you seem to spend all day, every day on this website?
Even more, Iceland, please sent us some beautiful songs and we will all sent you a heart under the belt by voting for you guys.... Chin up, things can only get better....
LIsten guys, I work in the city in London and can tell you that we haven't seen anything as yet. Iceland is more than just the credit crunch, like somebody said before, Iceland is almost bancrupt. People in Iceland started hamstering last week, the Icelandic currency is worth nothing anymore..... And on top of that is half the world (that incvested in their money in Icelandic banks) against them. Poor guys, yes my heart is with our Icelandic friends. I think if they would participate that the reactions would be very negative, although, music has nothing to do with all this crap. Show must go on, also for Iceland, and believe you me, it's not the first and won't be the last to fall....
@Ronny (Norway), don't fear my friend, Norway is one of the richest countries in the world, you guys have oil....
Iceland will recover - with help from Russia and Scandinavia. I guess it some kind of a financial agreement of the national banks. It's true that Russia granted Iceland a loan, but Norway did too.
Don't think this will affect their participation.
@ dimmis, icelandic economy was never part of the EU (and they're not EU, for their own reasons). True, they had one of the highest GDP in Europe, but they collapsed cause they were highly dependent on US all the time, not EU financial system. It was wrong.
i haved in my mind till now that the oiconomy from Iceland was one of the best in EU Now i supose that i was rong, it looks like was like a baloon, only air How Very Rude.
I guess I should book flights now then! Aww, I can't go just yet, I have just started a Masters course at uni, and it takes up waaay too much time. Such a shame too, cos my exams are in May, starting the week after Eurovision. Grrrr! Someone offered to go to Eurovision with me too, my dream fulfilled and shattered at the same time!
This is bad.
Certainly, the current situation in Iceland is terrible.
However, ESC and the national finals won't be especially affected: when there are crisis and big problems like this, popular shows (like sport events) are not cancelled (even they are enhanced) because people need (and the governments want it for their own interest) this kind of distraction for forgetting their problems for a while.
Anyway, some countries where ESC is not very popular like Hungary and Moldova are under big risk of withdrawal.
Well Chris if you do go you'll get alot of value for money, their currency is worth half of what it used to be, and read this -
http://www.guardian.(...)iceland.creditcrunch
"Iceland is on the brink of collapse. Inflation and interest rates are raging upwards. The krona, Iceland's currency, is in freefall and is rated just above those of Zimbabwe and Turkmenistan"
So although this may sound weird, if you're gonna go to Iceland, go when their economy is about to collapse cause everything will be cheap! 
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