As I understand it, there’s not much for this country to do but go back to fishing. The banking bubble has been completely deflated.
Beyond fishing and sheep they have their volcanos to keep them warm.
Alas, fishing alone can't keep them at middle class income levels. This leaves them few choices ~ maybe institute surfdom again, or convince a lot of them to emigrate to America or Canada. They once lost over 40% of their population over just one eonomic collapse.