Week 12 Foreign Paper Post-US Leaving Iceland

http://icelandreview.com/icelandreview/daily_news/?cat_id=16539&ew_0_a_id=194483

The Iceland Review writes that it will cost Iceland approximately 6 billion Icelandic krone when the US leaves the US base at Kevflavik, Iceland. This includes 2.5 to 3 billion just to take over and run the Kevflavik airport, the rest is the loss of American spending, direct and indirect. This amount does not include the cost of Iceland having to assume the cost of their own defense. That is quite a blow to Iceland's economy, and one not easily replaced. Understandably, this is causing consternation in Rekjavik.

According to the Washington Post "The United States spends about $260 million annually as part of an agreement to help provide for Iceland's defense, but officials in Iceland had been negotiating to pay the bulk of the costs if the U.S. military stayed.
"We are deeply disappointed over this decision," said Helgi Agustsson, Iceland's ambassador to the United States, who said he thought negotiations were going well before Washington abruptly told officials in Reykjavik of the plan to withdraw. "We have a defense agreement with the U.S., and with the withdrawal of the fighter aircraft, it raises the question of credible authority. Iceland has no military forces."

I have no idea whether this is a good or not so good move on the part of the US. But Iceland was willing to take over the all the costs the US currently incurs ( $260 million) ? Hmmmm, that would be a real bargain considering the price of just purchasing equipment to defend their country, let alone maintaining and providing personnel. I have nothing at all against Icelanders, but they are not a poor third world country, if they want them, why can't they have their own defenses?