UNDERNEWS

Undernews is the online report of the Progressive Review, edited by Sam Smith, who has covered Washington during all or part of one quarter of America's presidencies and edited alternative journals since 1964. The Review has been on the web since 1995. See main page for full contents

January 27, 2009

ICELAND MAY BECOME LEFT GREEN LAND

Guardian, UK - The global economic crisis claimed its first leader, as Iceland's prime minister announced the immediate resignation of his government following the collapse of the country's currency and banking system. Geir Haarde said as recently as Friday that his coalition would remain in office until early elections, called for 9 May, after violent protests at its handling of Iceland's tottering economy. Yesterday he threw in the towel, saying that his Independence party and its Social Democratic Alliance partners were quitting immediately as he could not accept a demand by the Alliance to take over the premiership. . . "A new government should be formed by the end of the week," Baldur Thorhallsson, a political science professor from the University of Iceland, said. "It seems most likely that we will have a minority government of the Alliance party and the left-greens." Steingrimur Sigfusson, leader of the left-greens, offered a national government in October, when the collapse became apparent, which the government rejected. Sigfusson said that he is now considering all possibilities.

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