Iceland has been in the news for the past year for all the wrong reasons - with the country going almost bust and councils across the UK counting the cost of investing in their stricken banks.
Back in 1999 though there was only one Icelander who was on the tips of North End fans' tongues, striker Bjarki Gunnlaugsson, following his arrival from KR Reykavik.
It almost wasn't to be though as the popular Scandinavian explained in an exclusive interview with pne.com.
"I turned down a move to Kilmarnock to join Preston and at the time some people questioned that because PNE were in the second division and Kilmarnock were in the Scottish Premier league but there was something about the club, you knew it was going to be a success story."
Bjarki had lived the life of a footballing nomad for much of his career, playing in the Dutch, German and Norwegian leagues in between his spells in Iceland and England. So as a keen footballing fan the move to Lancashire wasn't too onerous for him at the time.
"Obviously like everyone, I follow English football, I knew it was one of the oldest clubs in the world, a traditional club, I knew about Tom Finney and the good players who had played for them.
"I knew about the Club and the coach but obviously we hadn't been in the top two divisions for a long time but as soon as I arrived I could see the potential for the Club and it was a lovely stadium with perfect grass at the ground, a great manager and you knew that something was happening there."
Gunnlaugsson should possibly consider a career in astrology considering the accuracy of his predictions, the Club was going places with a Championship and Play-Off final position secured in his two seasons at North End.
These days the former Icelandic international is still plying his trade at IA Akranes but with an added responsibility - as co-manager with his twin brother Arnur, formerly of Bolton Wanderers fame.
"We're identical twins so we have identical ideas about football so it's actually easier to work with someone with the same ideas as I have," Gunnlaugsson pointed out.
"We became 36 recently so we thought we could fool someone by playing the first and second halves, we would be fit for one half each, we could do that!
"We employ a passing style of football, I learned a lot from David Moyes and his philosophy of football and I tried to pick up the best from the coaches I've had during my career and he was one of them."
Like many of the 2000 title-winning squad Gunnlaugsson stressed how clear it was to the team that Moyes would go on to greater things.
"It was obvious to us, he was a young manager, he had an aura about him, he was willing to learn, I remember talking to him a lot about my time in Europe and he was always asking questions and you can never think that you know it all, you can always learn in life and he is prepared to learn and pick up things."
And like Moyes, Gunnlaugsson is going through a spell of being a player-coach and he said how difficult it is to move on from being a player to being on the bench.
"He was so thorough about the practice sessions, the players don't realise the difference between being a player and a coach, you only really think about yourself as a player but as a coach you have to think about the whole team.
"When we arrived for training he would be there setting things up and people don't realise how much work went into that area. We try to have the same here with everything well-prepared so they can go from one training session to the next so they don't have to wait while we're setting it up. Those little things make a difference and he was obviously good at that."
Gunnlaugsson made his debut for PNE against Enfield in the FA Cup in 1999 and then netted a hat-trick in only his second start against Wrexham in the Auto Windscreen Shield.
He found himself predominantly used as a substitute in his 58 league and cup appearances for PNE with almost half of them (26) coming as a substitute. The Icelander didn't seem too bitter about his treatment from the management.
"As a player you want to play from the start but if the manager gives you a good reason not to play then you have to work on those things and get into the team, obviously another thing is the difference between being a player and the coach, as a coach there is never a personal reason behind a decision, you try and choose the right team for that game."
In a season chock-full of memorable moments it will come as little surprise that the final game of the Championship season was the personal highlight of his stay at Deepdale.
"Obviously the last game when we clinched the title was a highlight I think we lost that game but nobody cared at the time, I had a lot of nice moments, it was a really good team with lots of good players," Bjarki revealed.
His second season in Preston was an injury-hit one as PNE surprised the footballing establishment with a glorious run to the Play-Off final at the Millenium Stadium.
And it was after a month out at the start of that campaign that the winger-forward had his most memorable moment in a PNE top, as he told pne.com.
"I remember the game against Norwich City where we played at home, it was my first game back and Steve Basham had had a horrific injury with a broken leg.
"It was the first game after that injury and I scored the winning goal and when I celebrated Greegs came over with his shirt and I took it, it was a special moment and I gave it to the crowd, it was a nice moment. Obviously there was also the Play-Off semi-final, the penalties and the final, just watching that was a special moment for Preston."
The climax to the 2001 season provoked mixed memories for Bjarki, although delighted to have gotten that far he explained where PNE went wrong that day.
"In hindsight I think we were a bit too naive because we thought we had done something, it was great to be there but in hindsight we should have gone there and pushed on like Bolton did.
"I think PNE should have pushed on from there and went up it looks like we were lacking some belief at the time, as if we didn't deserve to be at the top."
Bjarki battled on throughout that season and chipped in regularly from the bench but the wear and tear was beginning to show and even an operation in the post-season wasn't enough for him to make the decision to retire.
"It was bad to leave, I had the best years ahead of me, it happened before the start of the season, I was a regular but I had injuries before the first game, I was struggling all season, I postponed an operation in October until after the last game and we really needed a full squad.
"I had an operation straight after the Play-Off final and then decided it wouldn't be any good and then I retired and went back to Iceland where I have been playing amateur football in the summer to keep fit and obviously now I'm coaching as well."
Gunnlaugsson and his brother are two of the most famous Icelandic footballers to have hailed from the North Sea country in recent years and the former PNE striker told pne.com the likes of Aron Gunnarson at Coventry City are backed up by a wider sea of Icelandic talent.
"I think there is a lot of good talent in Iceland and Gunnarson is a huge talent with the right attitude and he will be good for any club really."
When asked about whether he fancies a shot at a manager's position in the UK Gunnlaugsson was enthusiastic but admitted they have a lot to learn.
"We've just taken our badges and I think we have something to offer, as a manager we have a lot of experience at club and international level and have some ideas about the game as well, you never know, at the moment we're coaching part-time and we have a real estate business. Once you've been a professional footballer it's hard to get out of the game and stop and do nothing."
For now though Bjarki is happy to be learning his trade in his homeland but ended the interview with kind words about the club that gave him two of his most memorable seasons as a player.
"You always want to play nice football and even better if you have some success playing that football and Preston was one of those, hopefully they still are playing well and get into the Play-Offs.
"It should be a Premier League club hopefully it will happen this season and I know they have a good manager.
"Give my best wishes to all the fans, I had a short period there but it was a really fantastic period and I hope they get promotion as soon as possible."
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