Iceland: from the economical to the political crisis

Posted on April 14, 2009 by

The deep economical crisis that Iceland is experiencing along with the people pressure are the causes that damaged the stability of the Majority that is governing the island. On January 23rd the premier, Mr. Geir Haarde, declared his will to resign and to convoke anticipated elections on May 9th 2009.
That government, formed by a coalition between the Independence Party of Haarde and the Social Democratics of Gisladottir (previous mayor of Reykjavik, and previous Ministry of Foreign Affairs) should have remained at the power until 2011- and it also wanted to drive the country out of the crisis. However, the continuous protests in front of the Parliament building made this idea fall.

The President confirmed the will of the Government to solve the most urgent problems and grant the fulfilment imposed by the Fmi by May, making clear that he would not have presented himself again for the new elections.

On January 25th, two days after these declarations, Bjorgvin Sigurdsson –Ministry of Trade, resigned after firing the Head of the Authority in charge of the Financial supervision.
On Hanuary 26th, Mr. Haarde resigned his mandate to the President of the Republic, Mr. Olafur Ragnar Grimsson.
The continuous protest of the people, that has been standing united in front of the Althing since October, was finally listened.

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