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Iceland’s political meltdown

I must said when I see the events that are presently unfolding in Iceland I am very much reminded of that week in October 2008 when the entire Icelandic banking sector basically collapsed.
What we are seeing now is not necessarily an economic shock – I actually don’t think so – but it seems like a total collapse of the established political party structure in Iceland.
Things are changing minute by minute and the whole thing is quite surreal. I am not going to make any predictions about how this will end but Prime Minister Sigmundur Gunnlaugsson will soon by former Prime Minister.
It is only a matter of time before we have early elections and the big winner undoubtedly will be the Pirate Party. The only question will just how much support PP will get.
I still don’t think that PP will get a majority on it is own, but given the party was polling 35-36% in the opinion polls last week we could soon see support above 40%.
Iceland had a financial meltdown in 2008. Today it is a political meltdown. Will it also be a political revolution?
Update: The Icelandic PM has now stepped down.
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5 Comments

  1. Lars, a country that has a “Pirate Party” will surely get into trouble!

    Reply
  2. Martin Ågerup

     /  April 5, 2016

    What does the pirate party want? What policies?

    Reply
    • Martin, that is indeed a VERY good question. It is in fact very unclear. In Danish terms the party looks like “Alternativet” in the cultural and that organisation of the party, but it is certainly not clear that it would be left-leaning on for example economic policies.

      Reply
      • Martin Ågerup

         /  April 5, 2016

        Thanks, I heard you on radio news shortly after I wrote the question but they took such a short quote from you. Did I hear you say that they may restrict the number of tourists allowed into Island?

  3. “A question of time” became a “qusetion of minutes”!

    Reply

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