Digital News Report- Riots have broken out in the streets of Reykjavik, Iceland as the government collapsed in the face of the global economic crisis. Protests have been raging since last October due to the government’s role in their current economic situation, but demonstrations have intensified in recent weeks.
Prime Minister Haarde announced the immediate resignation of the government today, following the breakdown of talks with his coalition partner, the Social Democratic Alliance. The economic meltdown forced the government to take control of three of the country’s biggest banks last year and secure billions of dollars in assistance from the International Monetary Fund and other countries.
“I really regret that we could not continue with this coalition. I believe that that would have been the best result,” Haarde said.
Haarde called for general election in May, two years ahead of schedule, and stated that he would not run again due to a malignant throat tumor. The situation worsened over the weekend as Prime Björgvin Sigurðsson, Iceland’s commerce minister also resigned citing the pressures of the nation’s economic collapse.