Iceland

European island country located in the North Atlantic Ocean. It has a population of about 320,000 and a total area of 103,000 sq-km.

http://en.wikipedia.org/wiki/Iceland

From 2006 onwards, the economy faced problems of growing inflation and current account deficits. Partly in response, and partly as a result of earlier reforms, the financial system expanded rapidly before collapsing entirely in Credit Crisis 2008. http://en.wikipedia.org/wiki/Economy_of_Iceland