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Iceland bracing for volcanic eruption after many quakes Iceland is readying for a long-dormant volcano to erupt near the fishing town of Grindavik. Tens of thousands of small-to-medium earthquakes in recent weeks, leaving locals sleepless, are thought to be the precursor. Watch video 01:35 Europe opens airspace after ashen disruption Restless, shallow magma under Iceland s tremor-jolted fishing town of Grindavik on Iceland s western Reykjanes peninsula has left residents robbed of sleep in a volcanic zone dormant for the past 800 years. Some have retreated to hotels in the capital Reykjavik, some 30 kilometers (18 miles) away, to recuperate while geophysicists continue to warn that an eruption could be imminent. ....