Iceland in the Eurovision Song Contest 2014 compete with at the Eurovision Song Contest. "Lífið kviknar á ný" was performed in English as "Up and Away", while "Enga fordóma" was performed in a mix of Icelandic and English. Televoting solely selected "Enga fordóma" performed by Pollapönk as the winner in the second round. As winners of the competition, Pollapönk won a monetary prize of 1 million Icelandic króna and the right to represent Iceland in Copenhagen. During the semi-final allocation draw on 20 January 2014 at the Copenhagen City Hall, Iceland was drawn to compete in the first half of the first semi-final on 6 May 2014.
Monetary policy variable or device which the central bank uses to pin down expectations of private agents about the nominal price level or its path or about what the central bank might do with respect to achieving that path. Monetary regimes combine long-run nominal anchoring with flexibility in the short run. Nominal variables used as anchors primarily include exchange rate targets, money supply targets, and inflation targets with interest rate policy. In practice, to implement any type of monetary policy the main tool used is modifying the amount of base money in circulation. The monetary authority does this by buying or selling