CGP
01-26-2009, 10:08 PM
Entire Article: FT (http://www.thedailybeast.com/cheat-sheet/item/icelands-government-collapses/the-meltdown/)
Iceland’s government collapsed on Monday following political turmoil prompted by the global financial crisis.
The demise of the two-party coalition forced Geir Haarde, prime minister, to resign with immediate effect, having said on Friday that he would step down in May because he is suffering from cancer.
The government had been under growing pressure since Iceland’s banking system collapsed last year, triggering a severe economic crisis and an outpouring of anti-government sentiment by the public.
Iceland’s government collapsed on Monday following political turmoil prompted by the global financial crisis.
The demise of the two-party coalition forced Geir Haarde, prime minister, to resign with immediate effect, having said on Friday that he would step down in May because he is suffering from cancer.
The government had been under growing pressure since Iceland’s banking system collapsed last year, triggering a severe economic crisis and an outpouring of anti-government sentiment by the public.