the success of these investigations in tracing and recovering assets is likely to affect every UK household.

And affect every financial corporation doing significant business in The City, which is likely the Torrygraph's main concern, as opposed to "every UK household."  And not just financial corporations in The City.  We may at least hope that this is the tread that leads to the unraveling of the veil of corporate secrecy for the financial corporations and agencies involved in this part of the GFC.  That in turn would lead to the possibility of recovery from the personal estates of directors, officers and board members.  Which is why a settlement is more likely.  

Hope Iceland holds out for recovery instead. Making much of this public would encourage others to follow the same path.  It would be sweet indeed to see Goldman buried under molten lava from an Icelandic erruption.  

"It is not necessary to have hope in order to persevere."

More from the cited article:

But Dr Jon Danielsson, an Icelander who teaches economics at the London School of Economics, believes that while the timing of the crash was dictated by the global banking crisis, the scandal is unique among European financial institutions.

He believes the root of Iceland's problems that have now decimated its economy appear to have started when the government decided to privatise the banks in the early 1990s.

"Iceland got its regulations from the EU, which was basically sound," he says. "But the government had no understanding of the dangers of banks or how to supervise them. They got into the hands of people who took risks to the highest possible degree."

So the problem was just naive Icelandic government officials?  Just a few bad apples?  Nothing for the rest of you to worry about?

"It is not necessary to have hope in order to persevere."