Originally posted by BrilloPad
View Post
Ireland next, then perhaps Spain, then the UK.
HTH
-
Iceland's government collapses under strain of financial crisis
http://www.telegraph.co.uk/finance/f...al-crisis.html
Iceland's government collapses under strain of financial crisis
Iceland's coalition government has collapsed under the pressure of the world financial crisis.
The country's prime minister, Geir Haarde, said on Monday that his coalition government had fallen apart because of the escalating economic crisis and added that he would hand in his resignation to the president.
"I really regret that we could not continue with this coalition. I believe that that would have been the best result," he told reporters at parliament.
Mr Haarde's government, a coalition between his Independence Party and the Social Democratic Alliance, has been under pressure since the global financial crisis hit Iceland in October.
Iceland's economy is expected to shrink by 9.6 per cent this year, while unemployment is rising rapidly.
Last week, Mr Haarde had called for an early general election to be held in May.
He said he would not contest because of health reasons.
Earlier on Monday morning, Iceland's commerce minister, Bjorgvin Sigurdsson, announced his resignation, saying that he wanted to take responsibility for the counter's economic woes.
"I want to shoulder my part of the responsibility for that," he said.
"The anger and distrust of the public is too deep for me to be able to regain their trust," he added. "This will not be regained until changes in key institutions have been made."
==========================================
UK government next?
Leave a comment: