Today (12.12.2012) there was a interesting earthquake swarm in south part of TFZ (close to a place called Ásbyrgi). This earthquake swarm did consist mostly of minor earthquakes. With magnitudes of from ML0.2 and up to magnitude ML2.6. This earthquake swarm is tectonic in nature. I do not believe it is volcanic in nature. But this earthquake swarm is inside Krafla volcano fissure swarm or TFZ-NVZ two volcanoes. I am not sure in this case here.
The earthquake swarm is in the corner of this image. Copyright of this image belongs to Icelandic Meteorological Office.
This earthquake swarm might not mean anything special as is. But earthquake activity in this area has been some for the past few years. But it has so far never resulted in any major events so far in this area.