As for that whole bank c(r)ash thing, why don't you Icelanders tell the brits and the belgians to go fuck themselves, that's what you ought to do...
Dutch, not Belgians.
Anyway personally I don't really disagree, the UK and Netherlands governments have chosen to bail out their nationals who have invested money in dodgy foreign banks, but that was their choice.
Personally I think that
a) our government shouldn't have done that, and that
b) even if they did there's no real reason to go after Iceland for compensation.
If our governments regulatory systems had been good enough, those banks wouldn't have been allowed to trade here in the first place. But then again, had they been so, none of the other shit would have happened either.
So the regulatory systems weren't good enough and that is very clearly and unambiguously the fault of our previous Finance Minister from 1997 then Prime Minister Gordon Brown (who is from Scotland, by the way, haha).
This is not to say that Iceland isn't at fault - their regulatory systems were shit too. Along with most of the developed and wannabee-developed world.
You're not responsible as a nation for what a few greedy bankers did.
This is where I disagree.
The government regulation of the activity of large financial institutions in most or all of the developed world has been demonstrably woefully inadequate. In the large part this is more or less deliberate (in the sense that they chose light-touch regulation, because it pumped the cycle).
Moreover governments have been very reticent to tell their individual voters that borrowing a crap-ton of money that you can't afford to pay back is a Bad Idea(TM). Nor that putting your life savings in a bank you've never heard of because the interest rates are so good is a Bad Idea(TM) too. More money on credit = more stuffs bought = more feel-good factor = blimey my life is better under this government rather than the other lot.
So... the fault lies with the nations/governments, and individual borrowers/savers as much as it does with the bankers.