Iceland isn't part of the Euro or the EU (she applied to join the EU in 2009, but that's not ratified yet). If the author couldn't do that much of a follow-up, what more can you expect?
More importantly, Iceland was not "rescued".
Google is a wonderful thing. The stats below are from Wikipedia. It isn’t the Library of Congress, but does match what I read in the WSJ over the years.
While it uses the krona, Iceland was the first European economy to face a financial crisis in what would become the Crisis of 2008. 75% of its trade is with the EU. It became a member of the European Economic Area in 1994. It is a member of NATO.
Iceland had to obtain emergency funding from the International Monetary Fund and a range of European countries in November 2008.
That is a rescue.
You should have kept reading. He doesn’t say Iceland is a part of the EU. I think he says it was the first rescue....or at least that is how I read it.
I liked the humor on the Germans being German. I married one and it is too true. Like Napoleon? or DeGaulle or some other dead Frenchman said, “The Germans are either at your feet or at your throat.”