The Faroe Islands’ fight with the European Union over herring could spell higher borrowing costs as the 49,000-person North Atlantic archipelago struggles to cut deficits.
The Faroe Islands, a tiny, windswept land halfway between Scotland and Iceland, is so barren its 50,000 inhabitants import almost everything except fish and sheep. Now it wants to leap to the frontier of genetic medicine.
The government of the Faroe Islands derided as little more than “breadcrumbs” the European Union’s quotas as a fight over herring and mackerel fishing escalates.
I sat clutching my wife’s hand, nodding, listening, and trying to breathe.
Exxon Mobil Corp. , the largest U.S. oil company, agreed to enter the Faroe Islands as it bought stakes in three exploration licenses from Statoil ASA.