Frankly, it was astonishing that Geir Haarde lasted so long as he did as Icelandic Prime Minister. Rarely has a European government done such a comprehensive job destroying an economy. He, and the rest of his sorry cabinet, have hit the road after Icelander's patience with the currency and banking crises finally ran out.
I can see the same thing happening here. Just give it time.
The global economic crisis claimed its first leader yesteday, 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.
(From the Guardian)