Iceland: "Recovering Dubiously From the Crash"

from ipsnews....

"Three years ago, thousands of Icelanders were standing outside Iceland’s parliament building chanting "incompetent government" in an attempt to bring down the conservative government that had been seen as responsible for the collapse of the country’s banking system.

In 2008 all three major commercial banks collapsed because they could not refinance their short-term debt. It was the largest banking collapse ever in relation to the size of the economy. 

The protestors won, the government resigned, and a left-wing government consisting of the Left-Green Movement and the Social Democratic Alliance took over. The new government pledged to look after the welfare of the average Icelander, but opinions differ whether it has managed to do that."