Well, as we have only about 3 (to four as many of the little saving funds in the countrieside are merging into the biggest one of that), banks in total, we couldn´t live through a couple of banking failures. We have allways had an inflation problem, and today it is peanuts compared to before our conservatives hero Mr. Davíð Oddson came and did a Reagan/Thatcher on the economy.
I recommend you all to study our system and what we have done, even though we are small (and thus a good test case/labrotory) many nations could learn from us.
Just the other day the economist Mr. Arthur B. Laffer was visiting us, as we are a great proof of his Laffer curve effect, that is, lowering taxes, surprise surprise, we get more tax revenues.
The difference is today the media can blame the inflation on economic growth and overheating. I would like to learn more about your economic system and the real reason inflation is still a problem.
BTW, I believe the number one economic problem the world faces is that central banks incorrectly blame their economies for inflation.
Your economy is isolated just as the economy of Fairbanks Alaska is isolated. If the mainstay of the Fairbanks economy cooled off, Fairbanks would shut down. Similar situation, somewhat different actors.