This is a short notice. I think that eruption has started under the glacier in Bárðarbunga or maybe in the dyke area. I base this on the change in harmonic tremor that is now taking place. Please note that this has not yet been confirmed by Icelandic Met Office or by Rúv in Iceland at the moment. So this is unconfirmed reports from me at current time (01:13 UTC on 9-September-2014).
I am waiting more details on what is going on with the harmonic tremor.
Update: If this is an eruption then it is not a large one. The confirmation on if I am correct or not is going to take several hours. Unless a glacier flood starts soon. It is difficult to know at this time. The hard problem with volcanoes under the glacier is that nobody is sure what is going on under the glacier.
Update 2: The harmonic tremor is now dropping, or at least was doing so for a short period. Nothing has been confirmed so far if there was an eruption or not. I have seen the harmonic tremor on the following SIL stations starting 8/9.
If there was an eruption taking place. It was small one and its unlikely that it would have broken the glacier or started a major glacier flood.
Article updated at 02:14 UTC at 9-September-2014.
Article updated at 02:18 UTC at 9-September-2014.
Article updated at 11:15 UTC at 9-September-2014.