Cometh the hour, cometh the man. Or the woman. In its moment of dire financial need, Iceland has put its faith in two women to lead its newly nationalised banks. Elín Sigfúsdóttir has taken the top job at New Landsbanki, while Birna Einarsdóttir is set to become chief executive of New Glitnir.

However these appointments turn out, they have already fulfilled one of the government’s aims – together they signal a shift in banking culture that could not have been achieved by the appointment of any of their male colleagues, no matter how wise and sensible. They are an immediate and highly visible rejection of the testosterone-fuelled risk-taking that is the popular villain of the piece. The moves are also a reminder that a small country with a language not widely learnt outside its borders must make full use of all the talent within its 320,000-strong population.