Iceland in the Cold War due to clerical errors. Icelandic courts approved warrants by the Icelandic police to tap the phones of prominent Icelandic communists on six occasions during the period 1949-1968: During the 12-year reign of the , US-Icelandic relations were at their calmest. The government initiated major economic reforms that liberalized Iceland's economy and reduced Iceland's dependence on barter trade with the USSR. The Cod Wars were a series of confrontations between the United Kingdom and Iceland regarding fishing rights in the North Atlantic. Each of the disputes ended with Iceland's victory. The final Cod War concluded with a highly favorable agreement for
Collapse of the Atlantic northwest cod fishery with these new statistics brought to light no changes were made in regards to the allotted yearly catch of cod. With only a limited knowledge of cod biology, scientists predicted that the population of the species would rebound from its low point in 1975 and when Canada extended its fishing boundaries in 1976, fish mortality decreased immediately. This was not due to a rise in cod stocks, it was because foreign trawlers could no longer fish the waters. Therefore, when Fisheries and Oceans set quotas, they overestimated the total stock, and increased the total allowable catch. In 1992, John Crosbie,