In Iceland, the people have made the government resign, the primary banks have been nationalized, it was decided to not pay the debt that these created with Great Britain and Holland due to their bad financial politics and a public assembly has been created to rewrite the constitution. And all of this in a peaceful way.
A whole revolution against the powers that have created the current global crisis. This is why there hasn't been any publicity during the last two years: What would happen if the rest of the EU citizens took this as an example? What would happen if the US citizens took this as an example..
Top Economists: Iceland Did It Right … And Everyone Else Is Doing It Wrong
“What Iceland did was right. It would have been wrong to burden future generations with the mistakes of the financial system.” - Joe Stiglitz, Nobel prize winning economist
“What [Iceland's recovery] demonstrated was the … case for letting creditors of private banks gone wild eat the losses.” - Paul Krugman, Nobel prize winning economist
This is a summary of the facts: