Putsch: Iceland‘s crowd-sourced constitution killed by parliament

Following its spectacular plunge from grace in 2008 when its banking system crashed, inflicting huge damage on foreign creditors as well as on local residents, Iceland caught attention for trying to come to grips with what happened by bringing court cases against bankers and others allegedly responsible for the crash as well as for inviting the people of Iceland and its directly elected representatives to draft a new post-crash constitution designed inter alia to reduce the likelihood of another crash.