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Economy Could Compel  EVE Online  Creators To Leave Iceland

Economy Could Compel EVE Online Creators To Leave Iceland

December 24, 2008 | By David Jenkins

December 24, 2008 | By David Jenkins

Massively multiplayer online developer CCP is considering leaving its home country of Iceland, due to the growing economic crisis which has hit the small island country hard.

One of the first global economics to feel the full effects of the global financial crisis, Iceland's banking sector is left with debts that have risen to as much as $14 billion - 10 times the country's GDP.

All three of the country's major banks have had to be nationalized, with inflation now at 17 percent and unemployment in double digits.

As reported by British newspaper The Guardian, restrictions on access to foreign currency have proven disastrous for EVE Online developer CCP, which also runs offices in Atlanta and Shanghai.

Sci-fi themed massively multiplayer online game EVE Online has 300,000 subscribers worldwide -- as much as the actual population of Iceland.

"To make new games, we need foreign investors," said CCP's Eyjolfur Gudmundsson. "The present currency restrictions are putting us in a straitjacket. We are in talks with the government, but if we can't let capital in, we might be compelled to leave Iceland, even though this would be against our wishes."

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