There has been lot of news about Iceland recently

 Prime Minister Geir Haarde tells the FT that the island’s financial system is being unfairly and perhaps illegally weakened by hedge funds “who just want to make a profit by hook or by crook”. He says: “The central bank and the government have several means at their disposal to influence this situation and we have not used all of them yet. We would like to see these people off our backs and we are considering all the options available.” He declines to be more specific about what measures the government and central bank might undertake, saying “a bear trap needs to be a surprise”.

My Point :If Iceland can undergo a massive run, why can’t it happen to an emerging country like India ? Today’s financial system is troubled and nearly pernicious