First, I apologize for the obvious butchering of the Icelandic language.  ’Failout’ isn’t a word that translates well to anything.  I can only hope that including a picture of Miss Iceland makes up for it, and I trust alyx will forgive me my momentary objectifying of women, in the name of what passes for comedy in my posts.

Anyway, if you’re Iceland, good news!  Not only do your women look like this, but you’re not going bankrupt just yet, after all.  For the bargain price of $4.6b, the IMF and a handful of European countries with funny alphabets are saving Iceland’s butt from the street corner with loans it will never repay.  The idea isn’t to help the depositors who lost their shirts (because no one in the entire world cares about Meinn Stréti), but rather to recapitalize the banks and get them lending again.  You can ask Hank how well that’s going to work out.  Still, if you were looking to pick up Iceland for 70% off retail at an Off Fifth store, looks like you’ll just have to keep right on waiting.