Government type:
constitutional republic
Capital:
Reykjavik
Administrative divisions:
8 regions; Austurland, Hofudhborgarsvaedhi, Nordhurland Eystra,
Nordhurland Vestra, Sudhurland, Sudhurnes, Vestfirdhir, Vesturland
Independence:
1 December 1918 (became a sovereign state under the Danish Crown);
17 June 1944 (from Denmark)
National holiday:
Independence Day, 17 June (1944)
Constitution:
16 June 1944, effective 17 June 1944
Legal system:
civil law system based on Danish law; has not accepted compulsory
ICJ jurisdiction
Suffrage:
18 years of age; universal
Executive branch:
chief of state: President Olafur Ragnar GRIMSSON (since 1 August
1996)
head of government: Prime Minister Halldor ASGRIMSSON (since 15
September 2004); note - Former Prime Minister David ODDSSON switched
positions with former Foreign Minister Halldor ASGRIMMSON
cabinet: Cabinet appointed by the prime minister and approved by
Parliament
elections: president, which is largely a ceremonial post, elected by
popular vote for a four-year term; election last held 26 June 2004
(next to be held June 2008); prime minister appointed by the
president
election results: Olafur Ragnar GRIMSSON wins with 85.6% of the
vote, Baldur AGUSTSSON 12.5%, Astthor MAGNUSSON 1.9%
Legislative branch:
unicameral Parliament or Althing (63 seats; members are elected by
popular vote to serve four-year terms)
elections: last held 10 May 2003 (next to be held by May 2007)
election results: percent of vote by party - Independence Party
33.7%, Social Democratic Alliance 31.0%, Progressive Party 17.7%,
Left-Green Alliance 8.8%, Liberal Party 7.4%; seats by party -
Independence Party 22, Social Democratic Alliance 20, Progressive
Party 12, Left-Green Alliance 5, Liberal Party 4