LOL, the Eyjafjallajokull eruption!?!?
Actually it is possible. According to the NY Times, it's "EY-ya-fyat-lah-YO-kut." (I took the one that was phonetic !).
Ghosan is either "Ghon (ghost) - and rhyming with loan - with a silent s) or "Goin' (like a Southerner says going without the final 'g'). I've heard it both ways. Why do you need to say it in English, though ?