Gleðibankinn was the debut song for Iceland at the Eurovision Song Contest 1986 in Bergen performed by the group ICY. The song is an up-tempo number about "the bank of joy", which the band sings is where one's happiness is to be found. As they put it, "You don't deposit your empty blues in the Bank of Joy". Further, because happiness is stored in a bank, it can be withdrawn anytime one is feeling depressed. On the night, it was performed 6th following the United Kingdom and preceding the Netherlands. At the close of voting, it finished in 16th place with 19 points.