World War I In the quarter of a century preceding the war, Iceland had prospered. However, Iceland became more isolated during World War I and suffered a significant decline in living standards. The treasury became highly indebted, and there was a shortage of food and fears over an imminent famine.
World War I In the quarter of a century preceding the war, Iceland had prospered. However, Iceland became more isolated during World War I and suffered a significant decline in living standards. The treasury became highly indebted, and there was a shortage of food and fears over an imminent famine.