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CCP may have to leave Iceland
Ozmodan
Member EpicPosts: 9,726
in EVE Online
Interesting article here. Basically because of government restrictions CCP can't get outside investments and it may force them to move.
http://www.guardian.co.uk/world/2008/dec/22/iceland-recession-banking-collapse
Comments
Off to Canada they go.
I was wondering what the heck they were doing, given the currency freeze in Iceland. CCP charges its customers in a variety of currencies -- where are those funds going, how is CCP accessing them to use in Iceland now that Iceland has very strict currency exchange restrictions in place? Honestly, I'd think that it must be high time for them to move somewhere -- but where?
"Imo" CCPs customers mostly pay in dollar & euro. Isn´t it more the opposite?
Edit: I mean, shouldn´t they better stay in Iceland, if they get the hard cash from outside and can buy, "whatever they want"?
Converting ISK into other currencies is restricted, as is holding other currency bank accounts at the moment -- it definitely creates issues for an Iceland-based business entity doing business in multiple currencies like CCP. So CCP can either keep the USD and EUR amounts offshore and spend them offshore, or repatriate them to Iceland pay their local cost (ie most of their salaries and so forth) but be forced to convert them to ISK, and suffer the substantial loss due to inflation AND the future unclarity as to the ability to convert that ISK back into other currencies to be used elsewhere (e.g. London to pay for server upkeep and related staff there). My guess is that CCP wants to be able to repatriate those USD and EUR into Iceland and spend them, in part, in Iceland (probably by paying its staff in EUR, which they would prefer probably due to the rate of inflation on the ISK right now) -- which is not permitted under the current regime, I believe. It's a fast changing situation. I think that the Icelandic parliament was back in session a week or two ago on the currency restrictions, so I'm not sure what the current state of play is.
It would make some sense for CCP to move to the UK, since that is where their server cluster is located. But the political climate between Iceland and the UK right now probably makes that a pretty unattractive move for many of their Icelandic staff.
CCP is welcome to Norway.
We might have some high taxes, and strict laws about work conditions and treatment of yer workers.. But overall, a good place for a company like CCP... They could even get government grants if they became a Norwegian based company
It's sad to see the country doing so badly though. Hopefully Iceland can get back on its feet soon.
If you're not using feint, you're not doing enough damage.
Author of http://themmoexperience.blogspot.com and writer for http://www.negativegamer.com
Iceland feel abit betrayed by it former allies and friends. They have ironically offered Russia the former USAF base Keflavik to Russia. As it seemed that Russia wold lend a helping hand to Iceland.
(No, Russia did not acccept the offer.)
"The president was harshly for many of the represented countries, including Sweden and Denmark".
Grimsson said, inter alia, have been on the verge of insulting to Britain.
He is also said to have threatened to break with old allies and seek new friends, as the old so obviously failed the crisis-hit country.
- North Atlantic is important for the Nordic countries, the United States and Britain, a fact that these countries seem to ignore. It is preferable to Iceland acquire new friends, Grimsson is alleged to have said.
What seems to have upset the diplomatic corps in particular is that Grimsson threw out that Iceland is willing to let Russia use the old abandoned U.S. air base at Keflavik. The statement said to have caused pleasantly surprised faces at present Russian diplomats and had to reassure the Russians that Russia does not need a base in Iceland.
I'm so broke. I can't even pay attention.
"You have the right not to be killed"
Well, they do own a big office in US with their partner White wolf, they are making "World of darkness online " there and if they move Eve somewhere that is a safe bet.
But I think the Icelandic goverment will try anything for them to stay, CCP is actually making money, they have like Björk too, nothing else right now that brings in the cash. And things look really dark because the rest of the world are not doing so good.
Still, Denmark should have helped Iceland out, they are still doing good. And Iceland don't have that many people (something just over half a mil if I remember right) so it is not that big sums we are talking about if you compare to what US owns the worldbank or so.
Anyways CCP is doing fine so Eve is in no way in trouble.