The Icelandic Met Office has issued that there is no eruption about to start in Bárðarbunga volcano. News that claim that are wrong and remain that until proven otherwise.
Iceland Met Office announcement. Original announcement can be found here (IMO web site)
Presently, there are no signs of an imminent volcanic eruption in Iceland. The Icelandic Meteorological Office (IMO) did not issue a warning last weekend in connection with increased seismicity beneath the Vatnajökull ice-cap. If signs of an eruption were apparent, IMO would issue a warning immediately.
A lot of earthquakes does not always mean that a eruption is immanent. It sometimes just means a lot of earthquakes and nothing more. Media dramatization does not chance this fact.
Icelandic News on this. Use Google Translate at own risk.
Gos er ekki að hefjast (Vísir.is, Icelandic)