In the Old Icelandic Sagas, it is the Twilight of the Gods, and the end of the world, which is prophesied, possibly based on a dim collective memory of pre-historic climate change.
The New Icelandic Saga appears to herald the Twilight of the Banks, bringing immediate freezing of the collective finances, including those of British local authorities.
However, given that the collective psyche of local government sometimes seems very dim indeed, the "big freeze" might just be a timely reality cheque.
Complex feuds are central to the Old Icelandic Sagas. In the New Icelandic Saga, this probably means a major legal action against the Icelandic authorities.
Incidentally, Transport for London is amongst the Icelandic investors, which, on a positive note, might mean the end of a certain Thames Gateway Bridge "Saga", for the time being anyway.
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