Given the havoc their other recent volcano activity has caused this is not a good sign:

Bárðarbunga is a powerful stratovolcano in Iceland and is located under the ice cap of Vatnajökull glacier. With a massive high of 6591 feet above sea level that makes it the highest mountain in Iceland it also makes for some powerful volanic activity when it erupts.

Iceland’s Bárðarbunga volcano is said to erupt every 250-600 years if scientists are correct. What many dont know is that the most powerful volcano eruption on earth happened at Bárðarbunga some time ago.

For those that believe in evolution it could be around 8000 years ago but for those that believe in creation it could be around 3000 years ago, no one knows exactly when but the last time Bárðarbunga erupted it caused lava to cover an area of 950 square kilometers.

It is believed that Bárðarbunga will erupt sometime in the near future.

There’s charts and data at the link.