After suffering what is said to be the largest banking collapse of any country in history relative to its size, Iceland's president does not appear perturbed. The country's head of state, Olafur Ragnar Grimsson, bubbles with confidence and has some choice words for former UK prime minister Gordon Brown.
Despite his country's problems, Mr Grimsson says he is not seeking foreign investment into Iceland and implies that it is unnecessary. He claims that there is plenty of demand for Iceland's products and services, particularly its geothermal energy expertise, and that encouraging too much foreign investment into the country could even overheat the economy. He is convinced that foreign investment was the main reason why Iceland was hurt so severely by the financial crisis and as such he does not see the country opening its doors to foreign investors in the near future. In his opinion, any foreign investment that does come will be more regulated and on a smaller scale than before the crisis.
