Iceland holds parliamentary elections after government collapse | Election News

Legislative elections are taking place after the collapse of a fragile coalition, the economy is a major concern.

Icelanders are electing a new parliament after disagreements over the economy, immigration, and the fallout from a volcanic eruption forced Prime Minister Bjarni Benediktsson to pull the plug on a coalition government and call early elections.

Saturday’s election is Iceland’s sixth general election since the 2008 financial crisis devastated the North Atlantic island nation’s economy and ushered in a new era of political instability.

Opinion polls indicate that the country could be in for another crisis, as support for the three ruling parties grows.

Benediktsson, who was appointed prime minister in April after his predecessor resigned, has struggled to put together an expected coalition of his Independence Party with the centrist Progressive Party and the Left-Green Movement.

Bad weather in the sub-Arctic country threatened to prevent some voters from getting to polling stations on Saturday, with heavy snow blocking roads in many areas.

Weather may also delay delivery of ballot boxes to counting centers after polls close at 10pm (22:00 GMT).

Ten teams compete

Voters will elect 63 members of the Althingi – the parliament – in an election that will allocate seats by region and proportional representation.

Parties need at least five percent of the vote to win seats in parliament. Eight parties were represented in the outgoing parliament, and 10 participated in this election.

Turnout is traditionally high by international standards, with 80 percent of voters registered for the 2021 parliamentary elections.

A windswept island near the Arctic Circle, Iceland usually holds elections during the warmest months of the year.

But on October 13, Benediktsson decided that his coalition could no longer continue, and asked President Halla Tomasdottir to dissolve the Althingi.

The disintegration of Iceland’s political situation occurred after the financial crisis of 2008, which caused economic chaos after the collapse of the country’s debt.

The crisis led to anger and distrust between the parties that had been trading power back and forth and led to the creation of new parties ranging from the environmentalist Left-Green Alliance to the Pirate Party, which stands for direct democracy and individual freedom.

Like many Western countries, Iceland has suffered from rising living costs and immigration pressures.

Inflation rose at an annual rate of 10.2 percent in February 2023, fueled by the outbreak of the COVID-19 pandemic and Russia’s invasion of Ukraine.

Although inflation eased to 5.1 percent in October, that is still high compared to neighboring countries.

The rate of inflation in the United States stood at 2.6% last month, while the rate in the European Union was 2.3%.

Public finances have also suffered due to repeated volcanic eruptions in the southwestern part of the country, which have left thousands of people homeless.

A year after the first explosion forced the evacuation of the town of Grindavik, many residents are still without shelter, leading to complaints that the government is slow to respond.

It also adds to the shortage of affordable housing exacerbated by Iceland’s increased tourism.

Iceland is also struggling to accommodate a growing number of asylum seekers, creating tensions in the small, traditionally homogenous country.

The number of refugees seeking protection in Iceland has exceeded 4,000 in each of the past three years, compared to the previous average of less than 1,000.