CCP safe from Iceland's financial crisis

By Oli Welsh Published 17 October, 2008

EVE developer too global to suffer, says boss.

Hilmar Pétursson, boss of EVE Online's Icelandic developer CCP, has reassured fans that the company isn't threatened by Iceland's current financial crisis.

Last week, Iceland's entire banking system collapsed as a result of the volatile state of the world's financial markets. The local currency, the Krona, has dipped sharply in value, and many Icelandic financial institutions have fallen into bankruptcy and had their assets frozen.

"CCP is fortunate enough to be well isolated from the current banking crisis we see around us on both sides of the Atlantic (and here in the middle of it, of course)," said Pétursson on the game's website.

"Not only do we enjoy the privilege of a global customer base bringing a diverse array of cultural influences into our single shard world of EVE Online, but that same diverse nature inoculates us from short-term fluctuations in sentiment or economic turbulence," he continued.

"We have also made an effort to work with various financial institutions around the world, giving us the agility needed to manage our global operations around the effects of the credit crunch."

Pétursson even allowed himself to talk politics, scolding local politicians for not thinking globally enough. But he soon returned to optimism.

"The effects of this man-made financial storm have hit Iceland pretty hard, but don't worry about us. Icelanders are sturdy and tenacious by nature... Tough times never last, tough people do."

He also wryly pointed out that those considering attending the EVE Fanfest convention in three weeks' time would find exchange rates a good deal more favourable than they were this time last year. Iceland is known as an expensive place to visit, but "you can now party at the top of the world without breaking the bank," he said.

Fanfest takes place from 6th to 8th November. It will offer the first chance to see EVE Online's Walking in Stations avatar update, as well as the imminent Quantum Rise expansion.

Picture of Oli.

About Oli Welsh

Oli is Eurogamer's acting deputy editor and reviews editor and likes to take things one word at a time. He is among the best dressed people in South London.

Read more articles from Oli by visiting the Oli Welsh archive page.

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