|
|
The History of Iceland
In 930, the settlers founded the Icelandic Commonwealth, with no government, but a system of law and its private enforcement. A German chronicler, Adam from Bremen, wrote of the Icelanders of the Commonwealth period: They have no king but the law. The Commonwealth lasted until 1262 when the Icelanders accepted the rule of the Norwegian king, later to become subjects of the Danish king. In the 19th century, the Icelanders started arguing for independence from Denmark, gaining home rule in 1904 and sovereignty in 1918 as a separate kingdom in a personal union with Denmark. In 1944, a republic was established. The country is governed by the Althing (parliament), whose 63 members are elected every fourth year. The president has only formal powers and does not play any political role. The largest political party is the Independence Party, which is moderately right-wing and sympathetic to the free market. Its leader, David Oddsson, was Prime Minister in 1991-2004, first in a coalition with the Social Democrats, and since 1995 with a small centre party.
Hannes H. Gissurarson has recently published an article (pdf document) in the Wall Street Journal European edition, on the Icelandic economic miracle.
Newsweek has also published an article about the Icelandic economic miracle, interviewing Finance Minister Geir H. Haarde.
|
