Iceland Airwaves organisers vow to defy economic crisis

Iceland Airwaves is set to go ahead despite the crippling economic crisis which has gripped the country.

Organisers have moved to scupper rumours suggesting that next week's festival might not go ahead, claiming "the show must go on".

The five-day music event takes place in Reykjavik from 15-19 October and is set to include sets by Vampire Weekend, CSS, Biffy Clyro, The Young Knives, Simian Mobile Disco and many more.

With Iceland's currency the Kronur collapsing in the wake of the global crisis, there were concerns that money might not be available to pay bands.

But festival organisers mr.Destiny have secured the event's short term future and are urging more fans to join what's certain to be an historic party.

A spokesman said: "In spite of economical difficulties in Iceland at the moment the Iceland Airwaves festival will take place next week just like it has done for the past 10 years. The economical crisis does not affect the planning and promoting of the festival. Ticket sales have been going well and with the festival less than one week away, there are only a few tickets still available.

"The organisers, mr.Destiny, are looking forward to lifting the spirits of the Icelandic people and would like to point out to international guests that Iceland not only has the best beer in Europe it's now also the cheapest one."