In Iceland, the people has made the government resign, the primary banks have been nationalized, it was decided to not pay the debt that these created with Great Britain and Holland due to their bad financial politics and a public assembly has been created to rewrite the constitution.
"Contrary to what could be expected, the crisis resulted in Icelanders recovering their SOVEREIGN RIGHTS, through a process of direct participatory democracy that eventually led to a new Constitution. But only after much pain."