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Posts Tagged ‘Iceland’

Scientists Gather Around Katla, Volcano Giant Close To Eruption

In Financial Markets, Health and Environment, Natural science, Technology on 08.01.11 at 00:23

A sudden grouping of earthquakes at and around the volcano Katla in Iceland during the past 24 hours is cause for concern. Approximately 50 earthquakes have suddenly popped around the region, according to the Modern Survival Blog. The most alarming is that the last 6 have rumbled right beneath and within the Katla volcano caldera  itself – the most caldera quakes in one day since this author began monitoring the Icelandic volcano 7  months ago. International geologist is now setting up new equipment in the area.

“If that wasn’t enough cause for concern, earthquakes are also rumbling around the volcano that erupted last April (Eyjafjallajokull), the one that shut down European air traffic for several weeks.”

ModernSurvivalBlog


A few weeks ago, Eyjafjallajokull began showing signs of activity once again, the activity being new earthquakes. Having been mostly quiet since the eruption ended early last year, Eyjafjallajokull may now be indicating that it has more in store for us, the blog reports.

However, of greater overall concern is the Katla volcano.

The Katla Eruption of 1918

Reason being, it has the potential to explode with up to ten times the force of that of its neighbor, Eyjafjallajokull.

“The last Katla eruption was during 1918, 92 years ago, and is way overdue for its next wake-up call.”

The average time between explosive Katla eruptions has been 52 years since it erupted in 30 AD. Katla has erupted 38 times since.

Since May, 2010, approximately 132 earthquakes have rumbled within the Katla caldera.

The concentration of these earthquakes appear to be located in three general areas, as shown in the following image.

The largest concentration looks to be near the eruption of 1755, with nearly an equal number located near the eruption of 1918. There is also a build up of quakes along the northeast rim.

“We know that it is only a matter of time before this volcano blows its top. The explosion could be the biggest we’ve seen in a long time around this planet. Katla has exploded with a VEI 5 in the past (that’s pretty big).”

According to ModernSurvivalBlog.com,  new detection equipment has been installed around the Katla; Eyja region.

“If accurate, this could explain some of what we may be seeing. My own experience tells me that newly installed systems (any industry) take a while to tweak out issues. We’ll see how this plays out. Apparently just days ago, new, more sensitive seismometers (and more of them) have been brought online having been installed around Katla and Eyja, and financed by the British Geological Survey. The reason for the British funding for the new seismometers and software is to give better clues and more advanced warning before Katla does eventually go ka-boom. Even they know its history.”

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Spanish CDS Spreads Surpass Iceland

In Financial Markets, Health and Environment, International Econnomic Politics, Law & Regulations, National Economic Politics, Views, commentaries and opinions on 27.11.10 at 04:53

This was unthinkable only a year ago: Iceland‘s sovereign CDS spread being closer to the German benchmark than the Spanish. This means that the credit market believes that it’s safer to lend money to a bankrupt little community out in the North Sea rather than to the ninth largest economy in the world.

“The problem is that Greece, Ireland and Iceland all said the same thing shortly before they were forced to receive help.”

Gavan Nolan

This is an apple!

The Markit iTraxx SovX Western Europe hit 190 basis points for the first time, Friday. Spain and Portugal hit record wide of 325 and 515 bp’s respectively. Ireland’s bailout last weekend has caused the credit markets to hone in on the other likely candidates for financial distress; Portugal and Spain.

“Ireland and Iceland have been compared often in the last two years. The two island nations in the North Atlantic are emblematic of the excessive financial debt that precipitated the global recession,” credit analyst Gavan Nolan points out in Markit Credit Wrap.

A recent blog post by Paul Krugman highlights Iceland’s strong performance relative to Ireland since 2009, which he attributed to the Nordic country’s “heterodox” economic policies: capital controls, a large devaluation and considerable debt restructuring.

“The CDS market reflects this view – Iceland’s spreads are trading at half Ireland’s level. Even Spain is now wider than Iceland, a scenario that would have seemed far-fetched at the beginning of this year,” Nolan writes.

Adding: “The dire fiscal state of the eurozone’s peripheral economies is well-established. But the last week has seen the situation deteriorate, with sovereign spreads reaching unprecedented levels today.”


Both Portugal and Spain were forced to issue denials that they needed external support today.

Portuguese government spokesman says that reports of fellow EU members pressurizing Portugal into accepting a bailout are “totally false”, Financial Times report, The passing of the government’s austerity budget – a major point of contention with the opposition parties – did little to relieve the pressure on the sovereign’s spreads.

Meanwhile, Spain did also issuing robust denials of bailout rumours. The country’s prime minister Jose Zapatero says  there is “absolutely” no need for a rescue.

“The problem for both countries is that Greece, Ireland and Iceland all said the same thing shortly before they were forced to receive help. Investors are all too aware of the credibility issue, and this is reflected in sovereign spreads,” Gavan Nolan writes.

More details of a bailout that is definitely happening, that of Ireland, are expected over the weekend.

A report in the Irish Times today that revealed the timetable caused bank spreads to widen sharply.

The report indicated that the EU-IMF mission in Dublin is looking at ways of making senior debt holders share the burden of the bailout, i.e. taking haircuts.

“A fear of such a measure has been bubbling under in the markets for some time now, particularly after the Anglo-Irish Bank debt exchange “offer” was first announced. If does come to fruition then it will be a significant moment in the recent history of financial market,” Nolan notes.

“Senior bondholders will no longer be considered untouchable, and this will inevitably have an effect on bank borrowing costs. On the other hand, if there is no mention of such a measure then it could cause spreads to snap back,” he concludes.

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In other words – it’s gonna be another interesting Monday…

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Ups! Another Icelandic Volcano Starts Shaking

In Financial Markets, Health and Environment, International Econnomic Politics on 28.09.10 at 22:14

Indications of magma movement is evident underneath Europe’s largest ice cap glacier, Vatnajokull. The glacier covers at least three volcano systems with, at least, seven active volcanoes. More than 30 earthquakes occurred rapidly on Sunday,  many within minutes of each other.

“Interestingly, the earthquake pattern generally forms into a broad line rather than a random circular pattern. This could be indicative of a magma channel undergoing bulging stress.”

Modern Survival Blog

Vatnajoekull. Eruption 1996.

Most all the earthquakes magnitudes have ranged from 1,5 to 3,7 on the Richter scale. Tremor measurements from nearby stations clearly recorded the activity and is viewable at the Icelandic Met office website.

The Mid-Atlantic Ridge plate boundary passes right underneath the west side of the glacier separating the North American plate and Eurasian plate, where recent very active earthquake activity has taken place near the Bardarbunga volcano and is apparently ongoing at this moment, albeit slightly subdued from yesterday’s cluster.

The very active region is located very near the western edge of Vatnajokull glacier, about 15 km southwest from the Bardarbunga volcano and 25 km northwest from the Grimsvotn volcano.

“Interestingly, the earthquake pattern generally forms into a broad line rather than a random circular pattern. This could be indicative of a magma channel undergoing bulging stress,” the Modern Survival Blog reports.

Vatnajokull: Earthquake Cluster Location, 27 Sept. 2010.

This means that Iceland remains the world’s hot spot for volcanic activity.

With the recent eruption of Eyjafjallajokull during April this yer, causing disruptions in European air travel and European economies, all eyes have been on the north side of Iceland, watching for signs of a dangerous eruption at Katla – which historically usually follows a Eyjafjallajokull eruption within months thereafter.

Now we have this new suspicious activity beneath the gigantic Vatnajokull glacier.

The Superstar of Glaciers

Vatnajokull is one of the worlds superstars when it comes to natural phenomena.

With an area of 8,100 km², it is the largest ice cap in Europe by volume (3,100 km³), and the second largest after Austfonna on Nordaustlandet, Svalbard(Norway) in area.

(Not counting the still larger Severny Island ice cap of Novaya Zemlya, Russia, which may be regarded as located in the extreme northeast of Europe).

It is located in the south-east of the island, covering more than 8% of the country.

The average thickness of the ice is thus 400 meters, with a maximum thickness of 1,000 meters.

According to Guinness World Records, Vatnajökull is the object of the world’s longest sight line, 550 km from Slættaratindur, the highest mountain in the Faroe Islands.

GWR state that “owing to the light bending effects of atmospheric refraction, Vatnajökull (2,109.6m), Iceland, can sometimes be seen from the Faroe Islands, 340 miles (550km) away”.

The glacier was used as the scene for the opening sequence (actually set in Siberia) of the 1985 James Bond film “A View to a Kill”.

A Source of Disaster

Under the ice cap, as under many of the glaciers of Iceland, there are several volcanoes.

The volcanic lakes, Grímsvötn for example, were the sources of a large “jökulhlaup” (glacial lake outburst flood) in 1996 that destroyed roads and bridges.

There was also a considerable but short-time eruption of the volcano under these lakes at the beginning of November 2004.

During the last ice age, numerous volcanic eruptions occurred under Vatnajökull, creating many sub-glacial eruptions.

These eruptions formed tuyas, such as Herðubreið which was beneath Vatnajökull during the last ice age.

(Source: Wikipedia).

Related by the Econotwist:

Volcano Ash Can Send The Earth Into “Deep Freeze”

Katla Now Rumbling – Ready To Blow?

Katla Could Be 100 – Not 10 – Times More Explosive Than Eyjafjallajokull

More Mysterious “Monster Fish” Comes To Surface

Low-Oxygen Zones In Oceans Worry Scientists

Earthquake Frequency Up 133% In 2010

Earthquake May Have Shortened Days on Earth

Is The Earth Moving?

The Earth: A Danger Zone

Mother Earth On Crack

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Katla Could Be 100 Times – Not 10 – More Explosive Than Eyjafjallajokull

In Financial Markets, Health and Environment, International Econnomic Politics, National Economic Politics on 19.06.10 at 11:33

The current thinking and assumption is that an eruption at the Katla volcano in Iceland may 10 times as powerful the recent eruption of Eyjafjallajokull, but the fact is that Katla have the potential to become 100 times more explosive.

“Imagining the impact of a Katla eruption on a scale of ten times worse than Eyjafjallajokull is bad enough, but when considering an impact of one hundred times worse, one begins to cringe…”

ModernSurvivalBlog.com


The fact is, the magma chamber beneath Katla is large enough to produce a VEI 6 eruption. The chamber has a volume of about 10 Billion cubic meters and the caldera has an area of about 42 square miles (108 square kilometers), the ModernSurvivalBlog reports.

Last weekend there was an unusual high activity of earthquakes around the Katla volcano in Iceland, with 6 earthquakes in 24 hours.

This weekend it’s only been one earthquake in the area, so far.

But at the Modern Survival Blog they’re providing us with even more scary information:

100 – Not 10 -Times As Powerful

“The current thinking and assumption is that Katla will possibly be as powerful as ten times that of the recent eruption of Eyjafjallajokull, which is a reasonable expectation given the fact that the 1918 Katla eruption was indeed about ten times as powerful as Eyjafjallajokull,” the blog post points out.

But here’s the real deal:

Volcano explosiveness is ranked on a scale from 0 to 8 (Volcanic Explosivity Index – VEI), and each increase in number represents a ten times increase in explosiveness (logarithmic scale).

The total volume of ejected material also known as “tephra (the fragmental material, regardless of size, produced by volcanic eruption), as well as plume height are the most important criteria factored in to VEI.

The recent Eyjafjallajokull volcano eruption in Iceland was ranked on the low end of VEI 4 and released about 140 Million cubic meters of material , of which about 80 Million cubic meters went into the atmosphere by way of the ash plume.

It affected aviation in the region for weeks, translating to global transportation issues of both human and cargo, and had a measurable negative economic impact.

Now; Imagining the impact of a Katla eruption on a scale of ten times worse than Eyjafjallajokull is bad enough, but when considering an impact of one hundred times worse, one begins to cringe…

The Bad Habit Of History

The 1918 Katla eruption has been ranked VEI 4+ and VEI 5, ejected 700 Million cubic meters of material, was about ten times the explosive power as Eyjafjallajokull, and nearly comparable with the 1980 eruption of Mount St. Helens.

Katla erupting in 1918.

Katla erupting in 1918.

“The fact is, the magma chamber beneath Katla is large enough to produce a VEI 6 eruption. The chamber has a volume of about 10 Billion cubic meters and the caldera has an area of about 42 square miles (108 square kilometers). The total volume within the magma chamber, if completely filled and ejected, could touch the bottom range of a VEI 6.”

When Katla erupted in 934 AD, it produced one of the world’s largest known lava flows which amounted to 18 Billion cubic meters while also ejecting 5 Billion cubic meters of tephra.

This put it solidly within VEI 5 and would certainly have been VEI 6 if some of the enormous amount of lava had ejected as tephra instead, according to ModernSurvivalBlog.

Whether Katla goes off as a VEI 4+, 5, or 6, it will have a significant impact on today’s world.

Regardless of the scale, air travel will be severely impacted, particularly in Europe, which will ripple down through the economies of the world. Localities in the path of the ash plume will likely endure regional crop and livestock failure from ash fallout, as well as the threat of poisoning from inhalation.

“History favors a probable VEI 4+, maybe VEI 5 type of event, however a VEI 6 worst case scenario will bring significant devastation in that it will be much wider spread.”

“It will surely have a global impact as temperatures could drop enough to cause wide spread crop failures while our weather is effected from such a large volume of ash ejected into the stratosphere. Having said that, even a VEI 5 could also cause a world wide temperature drop depending on which end of the VEI ‘5′ scale.”

The Eyjafjallajokull eruption, April 2010.

The Eyjafjallajokull eruption, April 2010.

Katla historically erupts following the eruption of Eyjafjallajokull (which erupted 14-April and went on for 10 days).

Katla’s volcanic eruptions have ranged in duration from 13 days to as long as 120 days, while the last three Katla eruptions have been between 20 and 28 days.

“We will not know the answer to the question of 10-times or 100-times until it happens, but in the mean time, if I lived nearby, I would stock up with some extra food and water just in case the disruption is bad enough.”

“We all know that it will happen, it could be tomorrow or months from now, but the clock is definitely ticking,” the ModernSurvivalBlog writes.

Original post here.

Related by the Econotwist:

Volcano Ash Can Send The Earth Into “Deep Freeze”

Katla Update: 6 Eartquakes In The Last 24 hours

Katla Update: 2 Earthquakes In 3 Hour

More Mysterious “Monster Fish” Comes To Surface

Earthquake May Have Shortened Days on Earth

Low-Oxygen Zones In Oceans Worry Scientists

Mother Earth On Crack

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Katla Update: 6 Eartquakes In The Last 24 hours

In Health and Environment, International Econnomic Politics, National Economic Politics on 11.06.10 at 21:50

At 7:03 this morning the first powerful earthquake shook the ground at the Katla volcano in Iceland. Just 10 seconds later a second, but smaller, earthquake, occurred. So far there has been 6 earthquakes within the last 24 hours.

“It is interesting to note the buildup of earthquakes on the East-Northeast rim area.”

Modern Survival Blog


The activity in the area around the Katla volcano in Iceland seem to be increasing. In the last 24 hours there’s been a total of 6 earthquakes, that might be a sign of a giant eruption underway.

The Modern Survival Blog reports:

Friday, 11-June-2010, 07:03 this morning, an earthquake shook at the Katla volcano in Iceland.

10 seconds later, a slightly larger magnitude earthquake struck.

10 minutes later another earthquake trembled followed by yet a fourth earthquake hours later.

As I was writing this, a fifth earthquake just popped off!

Update: Now a sixth earthquake has gone off – this one though, way over on the western edge of the glacier area – lots of excitement today…

Increasing frequency?

The Modern Survival Blog have been monitoring the earthquakes at Katla since mid May.

These six earthquakes are the most in one day so far.

There is no evidence of swarming at this time – but it could definitively be the beginning of a swarm.

Anyway, it is interesting to note today’s rapid occurrence of earthquakes.

Katla, that historically erupts following the eruption of Eyjafjallajokull  – which first erupted April 14th –  is about 10 times more powerful, and has the potential to cause worldwide disruption.

An increasing frequency in the earthquake activity might very well be an indication than the eruption of Katla is near.

But time will tell.

Number of earthquakes up 151% this year

“The number of magnitude 5.0 to 6.9 worldwide earthquakes are showing a significant increase so far this year during 2010, and are up 151 percent compared with the same range and time span of earthquakes since the year 1900, as of this independent analysis, 25-May-2010,” The Modern Survival Blog writes.

The number of magnitude 7.0 to 8.9 worldwide earthquakes appear to be on track, or slightly increased from historical averages.

Magnitude 4.9 or less is analyzed, partly because they generally cause little or no damage.

“One could make a logical argument that earthquake detection technologies of the early 1900’s were not what they were decades later, and certainly not as advanced as today, therefore skewing the numbers. That is a valid argument. This would be particularly true when it comes to detecting and recording relatively small earthquakes which require higher sensitivity through more advanced technology.”

This is partly why this survey not compare earthquakes below magnitude 5.0. Earthquakes above this level were fairly easy to detect, even a century ago.

The data used in this analysis has been collected from the USGS (United States Geological Survey) going back to to the year 1900.

This report have averaged the number of earthquakes since 1900 in each magnitude range, and have also averaged the same data over the last 10 years. It is then compared this with the data of current earthquake statistics so far in 2010.

* Earthquakes of magnitude 5 – 5.9 have increased by 139 percent compared with same range of earthquakes over the last 10 years.

* Earthquakes of magnitude 5 – 5.9 have increased by 163 percent compared with same range of earthquakes since the year 1900.

* Earthquakes of magnitude 6 – 6.9 have increased by 130 percent compared with same range of earthquakes over the last 10 years.

* Earthquakes of magnitude 6 – 6.9 have increased by 140 percent compared with same range of earthquakes since the year 1900.

However, scientist are not able to conclude with certainty if the earthquake frequency is, in fact, increasing or not, because there’s not enough historical data.

A Whole Lotta Shakin’ Going On

“From our human perspective with our relatively short and incomplete memories and better and better communications around the world, we hear about more earthquakes and it seems like they are more frequent,” J. Ramón Arrowsmith, a geologist at Arizona State University, says.

“But this is probably not any indication of a global change in earthquake rate of significance,” he adds.

“Coupled with better communication, as the human population skyrocket and we move into more hazardous regions, we’re going to hear more about the events that do occur,” Arrowsmith assumes.

However, Stephen S. Gao, a geophysicist at Missouri University of Science & Technology, says:

“Relative to the 20-year period from the mid 1970′s to the mid 1990′s, the Earth has been more active over the past 15 or so years.”

“We still do not know the reason for this yet. It could simply be the natural temporal variation of the stress field in the earth’s lithosphere.”

h/t Birgitta Höglund

Related by the Econotwist:

Katla Update: 2 Earthquakes In 3 Hour

Katla Now Rumbling – Ready To Blow?

Volcano Ash Can Send The Earth Into “Deep Freeze”

More Mysterious “Monster Fish” Comes To Surface

Earthquake May Have Shortened Days on Earth

Mother Earth On Crack

Stunning Volcano Pictures

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Election Farce Throws Iceland Into Political Chaos

In Health and Environment, International Econnomic Politics, National Economic Politics on 31.05.10 at 14:52

Promising a polar bear for the Reykjavik zoo, free towels at all swimming pools, a Disneyland theme park at the airport and a drug-free parliament by 2020, the newly formed Besti Flokkurinn (“The Best Party”) took the political establishment by surprise when it became the biggest party in Sunday’s municipal elections in the Icelandic capital, Reykjavik, securing six out of 15 seats in the new city council.

“I believe we are to see this vote as a protest against the traditional politicians, against the political parties and against the political realities experienced.”

Olafur Hardarsson


A political earthquake has shaken Iceland, with a comedy political party winning local elections in a development that showcases citizens’ increasing disregard for traditional politics.

In the country, which has been brought close to bankruptcy as one of the worst hit by the financial crisis, the electorate showed its true feelings for the political parties in local votes on Sunday. Jon Gnarr, Iceland’s best-known comedian, is now in a strong position to become mayor of Reykjavik.

And it is not only in Reykjavik that voters have turned their backs on the traditional political parties. Council majorities in the second largest city Kopavogur as well as in Hafnarfjordur fell during yesterday’s local elections. In the northern city of Akureyri, the upstart L List of Akureyri Residents achieved a clear majority, winning 45% of the votes and six councillors.

Iceland’s social democrat prime minister, Johanna Sigurdadottir, said the vote could spell the end of the traditional four-party system in Iceland.

The Best Party in Reykjavik was established just half a year ago by a core group of comedians, actors and musicians and was seen by many as a way to sidestep a broken political system.

According to the EUobserver, The new party ran their campaign under the slogan “Whatever Works” and suggested that it was time for a “clean out”.

A large part of the campaign was run via YouTube with the campaign video featuring candidates singing along to Tina Turner‘s “Simply The Best” with a modified chorus: “Best for Reykjavik, Best city of every week.”

On Sunday, it broke all expectations by winning 34.7 percent of the votes. The traditionally leading Independence Party, a centre-right political grouping, had to content itself with second place on 33.6 percent and five seats. The Social Democratic Alliance, which currently governs Iceland in coalition with the hard-left Left-Green Movement, won three seats while its coalition partner secured only one seat. As many as five percent cast a blank vote in the elections.

“I have never seen anything like this”, Olafur Hardarsson, professor in politics at the Reykjavik University told Iceland’s public broadcaster, RUV.

“I believe we are to see this vote as a protest against the traditional politicians, against the political parties and against the political realities experienced”, he added.

Here it is – “We Are The Best” – The Best Party Video:

Related by the Econotwist:

Iceland Refuse To Accept Debt

And Now; A Word From Iceland

Where Exactly Is “Money Heaven”?

Threat To Air Travel From Icelandic Volcanos Still Troubling

Stunning Volcano Pictures

På (litt) lenger sikt

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Katla Update: 2 Earthquakes In 3 Hour

In Health and Environment, International Econnomic Politics, National Economic Politics on 21.05.10 at 23:17

The earthquakes at the Katla volcano site appear to possibly be increasing in frequency, according to a report at the Modern Survival Blog.  The two most recent earthquakes occurred within 3 hours of each other on 21 May, the report says.

“It may be a precursor warning that an eruption is about to happen.”

Modern Survival Blog

“The earthquakes at the Katla volcano site appear to possibly be increasing in frequency as of this moment (time will tell however). Since May 17 there have been four earthquakes at or very near Katla, while a 5th just on the edge of the Myrdalsjokull glacier,” the post says.

“Although 4 or 5 earthquakes at the volcano site in 4 days does not indicate a drastic change in pattern, the interesting notation at the moment is the fact that the two most recent earthquakes occurred within 3 hours of each other on 21 May, 2010, at depths of 5km and 13km. That in itself is an increase in occurrence. It may be an anomaly, but it justifies keeping one eye on Katla, the big sister of Eyjafjallajokull.”

“One type of volcanic earthquake may indicate that changes are occurring due to magma moving in to an area of the rock which changes the pressure around it. At some point, the rock will break or move. If this type of earthquake becomes frequent, and a lot of earthquakes begin occurring or swarming (Earthquake swarms are when we suddenly start seeing clusters of earthquakes in the same general area over a relatively short period of time), it may be a precursor warning that an eruption is about to happen.”

“What we are seeing at Katla, in my opinion is NOT cause for immediate alarm, but it is noteworthy to observe this recent activity and to stay up to date with what is happening there.”

Original post here.

Live web cam from Eyjafjallajökull here.

Related by the Econotwist:

Katla Now Rumbling – Ready To Blow?

More Mysterious “Monster Fish” Comes To Surface

Volcano Ash Can Send The Earth Into “Deep Freeze”

Stunning Volcano Pictures

Earthquake May Have Shortened Days on Earth

Low-Oxygen Zones In Oceans Worry Scientists

Mother Earth On Crack


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Katla Now Rumbling – Ready To Blow?

In Health and Environment, International Econnomic Politics, National Economic Politics, Views, commentaries and opinions on 17.05.10 at 20:47

The Iceland Met office indicates that a small earthquake has occurred at the Katla location near Eyjafjallajokull on Iceland, according to the Modern Suvival Blog. It could be the first signs of “the awakening” of the powerful giant, and the last thing Europe need right now.

“A Katla eruption would likely be about ten times as powerful at the Eyjafjallajokull eruption.”

Modern Suvival Blog


On May 17th 2010, 08:32 UTC, The Iceland Met office indicates that a small earthquake has occurred at the Katla location, near  Eyjafjallajokull, which first erupted on April 14, 2010 and is ongoing at this moment. Historically, Katla has erupted after the eruption of it’s close neighbor.

In what could be an early indication of the event that is expected to occur – an eruption of Katla –  a small earthquake is reported at the site.

Although a single earthquake is not a precursor of an eminent eruption, it could be the first signs of “the awakening” of the powerful giant.

Historically, Katla has erupted after the eruption of it’s close neighbor, Eyjafjallajokull, which first erupted on April 14, 2010 and is ongoing at this moment.

Magma channels beneath to the two volcanoes are thought to be interconnected.

A Katla eruption would likely be about ten times as powerful at the Eyjafjallajokull eruption and could cause worldwide disruption while expelling huge volumes of volcanic ash into the stratosphere which would circle the globe potentially for years, depending upon the magnitude of the eruption.

h/t Zero Hedge

Related by the Econotwist:

Volcano Ash Can Send The Earth Into “Deep Freeze”

More Mysterious “Monster Fish” Comes To Surface

Stunning Volcano Pictures

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