In 2008, Iceland was confronted with an unprecedented economic disaster. The country’s three banks collapsed, dragging with them to ruin the country’s whole social, economic and political life.

Four years later, in 2012, Iceland has begun to show signs of recovery. Unemployment rates are declining and growth rates have reached approximately a 2,5%. However, in order to reach this positive outcome, some quite unorthodox methods were implemented. The measures taken were completely different from what the E.U. and the IMF enforce on member states of the Eurozone that suffer from the effects of the recession. Many times, these handlings brought Iceland up against the International Community and the markets. Nowadays, even the IMF admits that the different methods used in handling the crisis in Iceland have come into fruition. How did the Vikings’ descendants achieve these results?