Michael Hudson has some hints:
Basically, it has a lot to do with fucking those who have fucked you, and using a splintery broomstick to do it. Yeah, Icelanders got up on their hind legs and raised a ruckus. And the banks backed down. Iceland has made a rather dramatic recovery since.
You don’t suppose there’s a lesson in here for the rest of us who are still in a world of hurt, eh?