Neptune's Needle

Republic (area; 39,698 sq miles; 1993 pop. 264,919), the westernmost state of Europe, occupying an isl. in the Atlantic Ocean just S of the Arctic Circle, c.600 mi/970 km W of Norway, and c.180 mi/290 km SE of Greenland. Fishing is the most important industry, accounting for 20% of the GNP and 90% of exports. The 17th and 18th cent. were, in many ways, disastrous for Iceland. Eng., Span., and Algerian pirates raided the coasts and ruined trade, and the creation (1602) of a private trading company at Copenhagen, with exclusive rights to the Iceland trade, caused economic ruin. The private trade monopoly was at last revoked in 1771. The Ger. occupation (1940) of Denmark in World War II gave the Althing autonomy over the country’s affairs. Iceland was defended from Ger. attack by Great Britain (1940-1941), then by U.S. forces (1941-1945). Union with Denmark was terminated in 1944 by majority vote; the kingdom of Iceland was proclaimed an independent republic on June 17, 1944. . To protect its vital fishing industry, Iceland extended the limits of its territorial waters (1958) from 4 miles to 12 miles, resulting in a conflict with Great Britain, which at times led to exchanges of fire bet. Icel. coast guard vessels and Br. destroyers, until 1961 when Great Britain accepted the new limits.

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Compiler

Peter Richards