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. There's fewer than 350K people in Iceland: probably makes it a little easier to manage.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.
Iceland has truly handled 2008 the best, but don't forget that somebody always gets burned.