Airwaves Festival Still On

Organisers of the Airwaves Festival in Iceland have confirmed the event will still go ahead despite the problems with countrys economy.

In the business world Icelandic banks have suffered severe losses because of the current economic crisis.

Today Thursday October 9 officials even suspended the stock exchange in the country as it struggled to cope with the credit crunch.

In happier news Simian Mobile Disco, Vampire Weekend and Young Knives will still be Iceland next weekend for the Airwaves music event.

Organisers 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.

Junior Boys, CSS, and Florence And The Machine will also play the festival.

WATCH AN AIRWAVES 120 MINUTES SPECIAL ON MTV TWO 1AM FRIDAY OCTOBER 1