It's not the same but it shows it can be done, that letting the banks fail doesn't necessarily translate to economic collapse. If the Iceland economy had collap

It's not the same but it shows it can be done, that letting the banks fail doesn't necessarily translate to economic collapse. If the Iceland economy had collapsed there would be a case that bailing out the banks was the right decision, but as it is there's no clear proof. Bailing them out lead to all kind of problems too. 8 years later the economy hasn't quite recovered, and in the meantime the lack of trust caused by all this gave us Trump, Brexit, etc. I guess we can't really know what would have happened if these banks had failed, but the alternative is definitely not great.