Please Explain

Icelanders are up in arms and rioting against their government for the total lack of banking oversight that resulted in the complete collapse of their economy.  Ok.  Makes sense.  I'd be a little ticked off if our government told us we would have to cover our national debt because they ran out of money.  And what a fall.  Iceland is always near the top of those lists of  productive, diversified, egalitarian, and civil places.  They had been enjoying a bit of an economic boom before this crash.  Sound at all familiar?  

So, yes, the protesting.  They are throwing yogurt in defiance.  In my opinion, this is neither violence nor peaceful non-violence.  So as a means of protesting it just seems, well, odd.  And messy.  And a bit slick when frozen.

And what I am wondering is if there is some cultural nuance that I am unaware of.  Please enlighten me if you are up on your Icelandic understanding.  Perhaps someone in the government shouted, "Let them eat yogurt" from the balcony of the parliament building.  Maybe there are several yogurt vendors in the neighborhood and it happens to be a convenient and inexpensive (remember, the economy has collapsed) item to purchase and fling at those who are thought to be responsible for the fiasco.  Maybe it is just a catchy marketing phrase: The Yogurt Mess.  Like The Cod Wars in the 1970's arguing with the UK over fishing rights.  Or maybe it is symbolic.  I am wondering if there is a parable somewhere of a simple yogurt maid who stood up for her rights during the unwelcome Allied occupation during WWII.  

I would like to understand this.  Any information would be appreciated.  Thank you.