Political outline

Executive Power

The President is the head of the state and is elected by popular vote for a four-year term. The President’s role is largely ceremonial. Following legislative elections, the leader of the majority party or the leader of the majority coalition is usually appointed as the Prime Minister by the President for a four year term.

The Prime Minister is the head of the government and holds the executive powers which include implementation of the law in the country and running the day-to-day affairs. The Prime Minister also appoints the Cabinet.

Legislative Power

The legislature in Iceland is unicameral. The Parliament consists of 63 seats, its members are elected by popular vote to serve four-year terms. The executive branch of government is directly or indirectly dependent on the support of the parliament, often expressed through a vote of confidence. The Prime Minister cannot dissolve the parliament directly but can recommend the same to the President. Legislative power is vested in both the government and the parliament. The people of Iceland enjoy considerable political rights.

Main political parties

Iceland has a multi-party system, with numerous parties in which no one party has a chance of gaining power alone, and parties must work with each other to form coalition governments.The major political parties in the country are:

- IP (Independence Party) – centre-right conservative political party, opposes joining the EU;

- PP (Progressive Party) - an agrarian and liberal political party;

- Alliance – a social-democratic party, based on the alliance of the People's Alliance (PA), Social Democratic Party (SDP) and Women's List;

- LGM (Left Green Movement) – advocates traditional socialist values, feminism and environmentalism;

- LP (Liberal Party) – a liberal party, opposes joining the EU and the war in Iraq.

Current political leaders

President: Olafur Ragnar GRIMSSON (since August 1996, latest re-election in June 2004) – non-partisan
Prime Minister: Johanna SIGURDADOTTIR (since February 2009) – Alliance.

Next election dates

Presidential: 2012
Parliamentary: May 2011