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REYKJAVIK, Iceland - Iceland's coalition government collapsed Monday, leaving the island nation in political turmoil amid a financial crisis that has pummeled its economy and required an international bailout.

Prime Minister Geir Haarde said he was unwilling to meet the demands of his coalition partners, the Social Democratic Alliance Party, which insisted upon getting the post of prime minister to keep the coalition intact.

"I really regret that we could not continue with this coalition, I believe that that would have been the best result," Haarde told reporters.
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Haarde, who has been prime minister since 2006, said he would officially inform the country's president, Olafur Ragnar Grimsson, that the government had collapsed. Grimsson, largely a figurehead, has asked Haarde's government to remain in place until a new administration is formed.

Last week, Haarde called elections for May — bringing forward a contest originally slated for 2011 after weeks of protests by Icelanders upset about soaring unemployment and rising prices.

But Haarde said he wouldn't lead his Independence Party into the new elections because he needs treatment for cancer.

Bid to form new government
Foreign Minister Ingibjorg Gisladottir, head of the Alliance party, is expected to start talks immediately with opposition parties in an attempt to form a new government that would rule until the new elections are held.

Gisladottir said Monday she won't seek to replace Haarde as Iceland's leader, proposing Social Affairs Minister Johanna Sigurdardottir — an Alliance member — instead.

The prime minister told reporters Monday that he had proposed Education Minister Thorgerdur Katrin Gunnarsdottir to be the new prime minister, but Gisladottir rejected that offer.

"It was an unreasonable demand for the smaller party to demand the premiership over the larger party," Haarde said.

He said he hoped a national government, formed from all of Iceland's main political parties, could lead the country until the elections.

The Alliance Party also has sought the ouster of central bank governor David Oddsson, Iceland's former prime minister, and sought changes to Iceland's constitution to allow it to become a full member of the European Union.

Banking collapse
Iceland has been mired in crisis since the collapse of the country's banks under the weight of debts amassed during years of rapid expansion. Inflation and unemployment have soared, and the krona currency has plummeted.

Haarde's government has nationalized banks and negotiated about $10 billion in loans from the IMF and individual countries. In addition, Iceland faces a bill likely to run to billions of dollars to repay thousands of Europeans who held accounts with subsidiaries of collapsed Icelandic banks.

The country's commerce minister, Bjorgvin Sigurdsson, quit Sunday, citing the pressures of the economic collapse.

"We are happy that the government has gone, but now we need to clean up the financial supervisory authority and the central bank," protester Svginn Rumar Hauksson said at a rally Monday outside Parliament. "The protests will continue until it becomes clear that things are really changing."

Bjork is still sexy.

Another day full of good news on ARF.  Good times.  Good times.

and so talented too 0-o

Oh, you came here for GOOD times?

They got good looking babes there, right? It's their natural resource. Export. Export. Export!

Icelandic women are gorgeous. The island is now ripe for takeover. To the new Arftopia!

They are supposed to be rather promiscuous, as well.

If there are any Icelandic women that need a place to stay while their .gov reorganizes and stabilizes, I'll be willing to assist. I need pictures for examination prior to admission.

when do we leave?

Good looking babes and promiscuous as well.


DING...DING...DING! We have a winner!

A roomate of mine in PRK grew up as a U.S. citizen in Iceland (his father worked on an airbase, he went on to become a Msgt. in the Air Force) and he on several occasions showed me pics of women there and told me of their completely different attitude towards sex.

I'll take two imports, please.

In.

I was going to make my first post about Pacino's rifle in Heat or asking which is better: 9mm or .45

...but what the heck, it's not that often we make the news.

+

Congrats and welcome to the site! NOW SEND US YOUR SLUTTY WOMEN!!!!!

The alcohol consumption in Iceland lubes that desire.....so I've heard....


RG

Poor bastards are going to have to start wearing particle board shoes and eat their geese.

I love bjork. She is a musical genious At least her first 3 or so CD's.

Where's the rapper phone call with Bjork animated gif when you need it?

Mount up, let's raid their island and steal all their bjorks

musical genius ≠ Sexy

They are drunks too!

This just keeps getting better . . .

Yeah, if you have a retard fetish.

Thanks.



This man speaks the truth. For the price of only a $50 bottle of Jack Daniel's they're all yours.

Soon to spread to the E.U. then the U.K..

Ahhh... the new economic times... coming soon to a country near you!

I liked Kef and Rak, I partied like a mofo doing the KefSAR's.

Good times.

The island pays woman to get preggers and stay there.

TechnoViking should go make those guys get back to work, take care of his neighbors.

YESSSS!!!

One of the funnier things to hit teh internets in a long time.

BOOZE-FUELED ANARCHY UNDER THE NOTHERN LIGHTS WITH HAWT WIMMENZ11!1!!!!ONE

<runs off to buy plane tickets and pack some ammo>

+1

fuck 'em, socialists...

I wonder how long people posted about tin foil before the collapse?

Yeah...


Ummm...



Yall understand that a "collapse" in the parliamentary system isn't a "loss" of the government, but of the leading party/coalition... right?


This sort of thing happens all the time.  Iceland just happens to be the first coalition to fall because of the economy.

Look at it as the Democrats leaders saying, "we're fucked... Republicans, you can have Congress next election."

- BG

Thank you, now I don't have to explain it.

I gave a half-assed explanation.  


I used to think of parliament as a pie that gets cut up.  The biggest piece (party) has more power, but not enough to rule.  If you combine pieces (parties), you can get a majority (51% or more) and form a coalition government.  Coalition governments fall apart all the time.

What is interesting is when coalitions fall (collapse) and all these little pissant parties (Left Greens, Social Dems, Independence, Progressive, etc.) start arguing and/or negotiating about how to unite and take control of the government.

In some cases, you can have a single party that can decide which coalition to join and they and their seats decide which coalition will be the ruling coalition.  It's would be interesting to see a tiny party get a lot of pull because they are badly needed for the coalition.

- BG

EDIT:  I am a big proponent of the parliamentary system.

Women here in the U.S. are promiscuous as hell also.

Get out of your mom's basement every once in awhile and fuck something. It will do you good.

Konger

Shit, only 10 billion? Bill gates should go buy himself a country. I know I would.

So what happens now?

$10bn for a population of just over 300,000 people.  That's a pretty impressive quantity of fraud, if you ask me.  
ETA: GDP of $12bn





ETA2:  actually, on a per capita basis, that equates to 33,000/icelander with the US debt at $40,000/american (based on est. US total debt of $12trillion)
 

FTW!
I say we take it and rename it West Ireland

By the way, Bjork is a very under appreciated singer.  I remember when Human Behavior, her first single, was on MTV in the early 90s.  It was awesome.

I recall having a "what the fuck?" feeling, while also recognizing that I would like to hit it.


- BG

Yup, I agree with you there. This country is pretty much beyond repair. Almost everyone here is a socialist weasel, brainwashed to believe that our system and everything icelanders do is the best there is.

One quote from school/college today... We were doing an assignment on several political/social issues and one question was about having a free weapons market. The teacher asked this kid whether he was for it or not and why and the kid answered: "I'm not for it because then everyone would start killing everyone." ...keep in mind that this was an about 20 year old sorry excuse for a male.

Then there was this girl who was asked about allowing the sale of alcohol in convenient stores & she didn't want it... and I could tell most of the class agreed.




Probably not much. A new majority will be formed or all the parties work together... won't change much since what's considered the right-wing party here is the one that nationalized the banks.

You could reinstate the formal Althing.

But people still have food and everything right? I mean, it has not become SHTF?

Yup, everything's still the same in day to day life... everything is just more expensive. A lot of people have lost their jobs though & a bunch more will get added to that group in February.

YEP!

Hei Nynni, are you guys going to apply for an EU membership?

Don't know. There has been some debating about it but nothing has been decided yet.

What????? Are you saying THE COLLAPSE™ didn't really happen?????

There were two parties that controlled congress before. They stopped working together and now a new majority has to be formed.

...and then there are elections in May.