I was just about to post the same thing.
Iceland's Reykjanes peninsula is showing signs of becoming active for the first time in 800 years; its last spell of significant activity began in c.950 AD, and lasted for 300 years.
It likely doesn't have the potential to devastate and disrupt internationally in the same way that a Krakatoa eruption could - it's very different in terms of its volcanic activity - but while much more likely to be a long-lasting inconvenience for a country well-used to volcanic activity than a sudden catastrophe, itt could significantly disrupt Iceland's economy; not least because the country's main international airport is on the northwestern section of the peninsula.