I tend to disagree with that statement. Icelanders seem willing to work for their money whereas Greeks enjoy their welfare state of a country and are having a temper tantrum because Euro can’t pay for it anymore.
Maybe you don’t remember the recent Icelandic financial crisis? It is easy to look up. I believe it was one of the largest defaults in history relative to the size of the Icelandic economy. Ask the British how that worked out for them.