One year ago something a bit strange happened that few could predict. A stable, politically sound, northern European country was reduced to bankruptcy as a result of a financial crisis.

I find this very fascinating. How did a country like that manage to make America look good in the midst of a financial crisis? The other day I read an article (sorry about the source, but its still a good read) that explains a little more about what was behind Iceland's meltdown.

It is partially interesting since everything is so unfathomable. Can you even imagine a country that has debt equivalent to $330,000 per person? How do you manage to amass this much debt in less than ten years? These questions and more are covered in the article and provide a stern warning against deregulation and poet-bankers.