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The Icelandic economy is prosperous and flexible” (IMF 4 July 2008)

(There is) “a very real danger...that the Icelandic economy, in the worst case, could be sucked with the banks into the whirlpool and the result could be national bankruptcy.” (Iceland's Prime Minister Geir Haarde – address to the nation 6 October 2008)

What happened to Iceland in the period of three months to explain this change?