Hi, CS-

Here is the conclusion of the article you cited:

"But the biggest threat to Iceland's icecaps is seen as climate change, not the volcanoes that sometimes melt the icecaps.

They have begun to thin and retreat dramatically over the last few decades, contributing to the rise in sea levels that no eruption of Katla, however big, is likely to match."

Iceland is tiny. It's Greenland that is most problematic. That entire mini-continent has risen 1/4" as the melting of its ice sheet accelerates and weight is removed from the rock substrate below. 100 billion tons of ice melted in 2010.

http://researchnews.osu.edu/archive/greenlift.htm