This is fascinating! I checked some other articles about Iceland's financial recovery and it seems solid, mostly brought about by a young progressive prime minister, Sigmundur Davíð Gunnlaugsson.

Because Icelanders took control of their government, they effectively own the banks. Benediktsson believes this will bring foreign capital into the country and ultimately fuel the economy — which, incidentally, remains the only European nation to recover fully from the 2008 crisis. Iceland even managed to pay its outstanding debt to the IMF in full — in advance of the due date.

There's fewer than 350K people in Iceland: probably makes it a little easier to manage.