Is this an indication of our economy?

Maybe the UK economy has not sunk as low as that of Iceland yet but this article was brought to my attention

The National Pensioners' Convention is this week distributing hundreds of
blankets and woolly jumpers donated to elderly Britons by the people of Iceland
after a radio appeal.
On Monday, the same day that Iceland's coalition
government resigned in the wake of its banking fiasco and noisy protests
continued outside the Reykjavic parliament, a shipload of woollen garments
arrived in Grimsby destined for UK pensioners suffering from the chilly winter
temperatures.