Why Iceland successful in dealing with International Banking Cartels?

Yeah, this nonsense is circulating everywhere. The reality is that Iceland never went bankrupt. Iceland took out nearly a year's GDP worth of loans, largely from the IMF, to restructure their banks which were in receivership, making them valuable enough that they can start paying off their debts to the British and Dutch. And to get the loans required significant austerity measures. Iceland currently has a surprisingly good credit rating, and that's precisely because Iceland played ball with the international financial system.

The referrendums were not on a national debt issue anyway. They were on a private debt issue. And they were worked around anyway. And, icing on the cake, the people seeking the money from Iceland were not big international banks. They were countries. The investors who lost money were not big institutional investors; it was mostly retirement funds, small city council investments, and the like. Their governments bailed them out then tried to get the money back from Iceland.

And even if we were talking about a national debt issue, like Greece or Ireland, it'd *still* be not applicable, because the only reason Iceland was able to collapse its currency to help solve the problem is because it's not on the Euro, like these other states.

Another useful web site is 'Save the people if Iceland'.