Eve Online Employees Paid in Foreign Currency During Economic Meltdown

August 10, 2009 -

Employees of Eve Online developer CCP Games were paid in foreign currency during Iceland's economic meltdown in late 2008/early 2009.

gamesindustry.biz reports that the unusual action was taken due to wild fluctuations in the value of Iceland's krona. CCP Executive Producer Nathan Richardsson told gi.biz: 

What really was the problem for us was how many of our employees were hit by the [financial] crisis...

We're not out of the woods yet, not by a long shot, but at the very least we could leverage part of CCP's infrastructure that you wouldn't normally think would benefit your employees - allowing people to be paid in foreign currency, for example, makes it much more stable for people looking towards the future - when being paid in Icelandic Krona was still fluctuating by a few per cent here and there, it was very volatile and you can't really work with that kind of currency.


Comments

Re: Eve Online Employees Paid in Foreign Currency During ...

I really wouldn't mind if some eve players were put in charge of world economies.

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Re: Eve Online Employees Paid in Foreign Currency During ...

You do realise that EVE traders are, in terms of the game's background, ruthless hyper-capitalists of the kind that got us into this mess in the first place? That may not be such a good idea.

Re: Eve Online Employees Paid in Foreign Currency During ...

"Finnish Krona"?

WTF?

 

 

--------------------------------------

"Science asks how, and faith asks why"

Re: Eve Online Employees Paid in Foreign Currency During ...

I'd be so proud if Eve Online was Finnish.

Finnish Krona?

Um, what?

CCP is in Iceland.

Finland hasn't had Krona as currency since 1809: http://en.wikipedia.org/wiki/Finland#Swedish_era_.281249.E2.80.931809.29

-- http://pixelantes.blogspot.com/

Re: Finnish Krona?

Exactly, the correct currency is the Krona, but it IS Icelandic, not Finnish. That's why the Currency of Eve is ISK, because that's the abbreviated name of the Currency in Iceland.

http://en.wikipedia.org/wiki/Gameplay_of_Eve_Online#Economy

Re: Finnish Krona?

That and in EVE it stands for Interstellar Kredit, or ISK for short.
But I assume it should be Iceland, since that's where CCP is based, not Finland.
Although I could see them paying out in Euros or any other stable currency in a period in which the Krona was essentially in freefall.

Re: Eve Online Employees Paid in Foreign Currency During ...

I thought Finland has a lot of natural resources backing them up, and banked. Or is it Switzerland I am thinking of.

Re: Eve Online Employees Paid in Foreign Currency During ...

It's a typo, the meltdown should refer to Iceland not Finland.


Re: Eve Online Employees Paid in Foreign Currency During ...

Woo, eve news.

CCP is one of the driving forces behind the Icelandic economy right now.  The CCP annual eve meetup in Reychavik brings so much income into the country that it's practically treated as a national event.

Re: Eve Online Employees Paid in Foreign Currency During ...

That's what you get when you have a very small (320k inhabitants total, most of them in the capital) but rather rich country with a very open financial system.
Speculation literally drove the country to the brink of bankruptcy.

Right now CCP is probably one of the largest sources of non-icelandic currency in Iceland, making the company pretty important to recovery, FanFest will bring hundreds (if not thousands) of tourists to Iceland for a couple of days, which won't be an insignificant capital injection for the local economy.

I'll be visiting FanFest for the first time myself this year, from what I've seen it's a good deal cheaper to go this year than it was in previous years.
(As an example, the Krona was worth almost twice as much last year, compared to today)

 

 
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MattsworknameDoc:: Thanks for the link, but im not interested in bickering with IP about anything. as ive noted, ive not need to argue with him'08/03/2015 - 6:58pm
Andrew EisenOne of the major points of contention seems to be whether or not TB shared or linked to a specific video, something that should be fairly easy to verify.08/03/2015 - 6:53pm
Andrew EisenNice to know what TB was referring to. What I'd like to observe is that this Kaiser chap was merely stating his opinion on his Twitter. He didn't tag in TB or GOG. So, I wouldn't classify this (and just THIS specifically) as harassment.08/03/2015 - 6:48pm
DocMelonheadAnd TB's Response: https://soundcloud.com/totalbiscuit/enough08/03/2015 - 6:41pm
DocMelonheadMWK and IP: but if you want something recent for both of you to bicker about in regards to TB, I present you the Rowan Kaiser Slandering TB: https://archive.is/LEA5T08/03/2015 - 6:41pm
Mattsworknametreatment. might have made him just a bit bitter08/03/2015 - 6:38pm
MattsworknameDOC: Tb is an opionated dude who holds extremely strong beliefs and has a severe distaste for those he views as being on the other side of the gamergate isue. I think a big part of it might be all those who went after him when he was undergoing cancer08/03/2015 - 6:38pm
DocMelonheadIP: You have to remember the human, everyone shouldn't be treated as gods or devils. Otherwise, we could've kill Bill Cosby for raping 40 women over the course of his career.08/03/2015 - 6:37pm
DocMelonheadIP: So yeah, he did spread misinformation about the victims of Gamergate Harassment: And that's bad. But It's not worth calling him out as a horrible person because of those lies that he helps spread.08/03/2015 - 6:33pm
MattsworknameAndrew: i know, I know, im just being a bit over serious today.08/03/2015 - 6:33pm
DocMelonheadIP: Should we call out Game Politics for their refusal to exclude all of Gamergate that isn't Hate speech or harassment? Because that is what your attitude tells me.08/03/2015 - 6:28pm
Andrew EisenMatt - Come on, man. You HAVE to realize that I was just goofing around with my 6:17 comment.08/03/2015 - 6:28pm
DocMelonheadIP: As for TotalBiscuit, do you suggest that we should branded him as a bigoted liar and a fraud just because he buys into the whole "Gamergate" mission statement?08/03/2015 - 6:26pm
MattsworknameAnderw: Youtube is a great place cause everyone can say anything, doesn't make it a bation of ethics08/03/2015 - 6:26pm
MattsworknameIp: As I've said, I long ago came to the conlusion that I have no need to bother arguing with you, you long ago robbed yourself of any credibiltiy. I just let your hatred and bias shine on for all to see.08/03/2015 - 6:24pm
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Andrew EisenI'm on YouTube. I've got journalistic ethics out the wazoo. Therefore, YouTube is a bastion of ethics. Science says so!08/03/2015 - 6:17pm
DocMelonheadIP: drop it, man, we get it: Total Biscuit Defamed Leigh Alexander, and encourage the harassment campaign.08/03/2015 - 6:17pm
IronPatriotSo far, total FAILURE in defending TotalBiscuit's lies and distortions which I posted.08/03/2015 - 6:17pm
 

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