Once upon a time, Iceland was the land of geysers, hot springs and puffin stew. We yearned to navigate its rugged coastline and traverse its fiery interior. We cared not a jot if the price of vodka in Rekjavik's Ice Bar was exorbitant. Because Rekjavik was the epitome of cool. Damon Albarn had a house there. The city's Sigur Rós soundtrack was a trip without drugs. Even Take That's "Patience" video (filmed on the road to the Blue Lagoon) had a kind of craggy, rustic allure that wasn't limited to Jason Orange's facial features.

Then Icesave happened. 400,000 British and Dutch people found themselves out of pocket and not a little peeved as a result. The domino effect of the Icelandic economic crisis saw cash-strapped UK local authorities turn into cash-starved UK local authorities. Iceland the country suddenly had a greater image problem than Iceland the supermarket (whose public face Kerry Katona was simultaneously dominating the tabloids, enjoying a white substance that didn't resemble freezer frost).

Britain's northern neighbor, while not suffering the expected capitulation in tourism, found itself cast as Public Enemy No.1. And unfortunately we didn't take a basic truth into account: Hell hath no fury like an Iceland scorned.

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