Word: icelander
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Dates: during 2000-2009
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Once prohibitively expensive, places such as South Korea and Iceland have been transformed into bargain getaways. The weakening of South Korea's won helped the country attract 7% more tourists last year--a faster rise than that of any other Asian destination--and so far this year, 50% more Japanese tourists have visited. In Iceland, where the krona has fallen sharply, the nation is betting on increased arrivals: this summer Icelandair will open up new routes to nine cities in Europe and North America. And VisitBritain, the official U.K. tourism body, is running a $2.6 million ad campaign urging foreigners...
...Just ask English club West Ham United. Asset-management company CB Holding took over the East London club earlier this week, after its Icelandic owner and chairman Bjorgolfur Gudmundsson lost his trousers in the credit crunch. Iceland's Straumur Bank, CB Holding's major shareholder, is itself in the midst of restructuring after being bailed out by the Icelandic government in March. In Spain, once mighty Valencia is effectively controlled these days by local lender Bancaja, its major creditor, after hapless management and a soured stadium-development plan left the club about $725 million in debt. (See pictures...
...violent war in Iraq, which we opposed from the start. But this calm was not to last.On September 15, 2008, Lehman Brothers filed for Chapter 11 bankruptcy protection. This sudden collapse marked the start of a financial chain reaction that reached across the oceans, bringing down parliamentary governments in Iceland and Latvia, and forcing the Hungarian and Ukrainian governments to appear hat-in-hand before the International Monetary Fund. We also watched—with some concern—as growth forecasts in several important emerging markets, like China, dipped for the first time in decades. We encouraged American...
...because I had a story to tell," Rybak, 23, told reporters after setting an event record with 387 points, which put Norway well ahead of second-place finisher Iceland, which scored 218. In "Fairtyale," Rybak mixed stellar vocals with Scandinavian kitsch. He sang about his obsession with a lost love while a folk troop performed a centuries-old Norwegian mountain dance consisting of backflips and exaggerated push-ups. "In Russia, they like nostalgia and melancholy," he said, explaining why he thinks his wistful tune appealed to millions of voters in Russia and former Soviet states. That his folksy ditty channeled...
Snaefellsnes, Iceland. On a mountainous peninsula about three hours northwest of Reykjavik, the Hotel Budir sits on the edge of a lava field overlooking the Atlantic Ocean. Time.com's deputy photo editor, who visited in May, says it feels like the end of the Earth (in a good way). It may be desolate, but there's no shortage of stuff to do: fishing, hiking to a nearby waterfall, climbing a volcano, horseback riding and touring the sea aboard the hotel's boat. The rooms may be on the small side, but the well-appointed lounge, with contemporary art, a fireplace...