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.
European Monetary System European Monetary System European Monetary System (EMS) was an arrangement established in 1979 under the Jenkins European Commission where most nations of the European Economic Community (EEC) linked their currencies to prevent large fluctuations relative to one another. After the demise of the Bretton Woods system in 1971, most of the EEC countries agreed in 1972 to maintain stable exchange rates by preventing exchange rate fluctuations of more than 2.25% (the European "currency snake"). In March 1979, this system was replaced by the European Monetary System, and the European Currency Unit (ECU) was defined. The basic elements of the arrangement