During Iceland's period as a republic, the government has usually been a coalition of two or more political parties. Conflicts exist regarding the President’s usage of power. Currently, the office of President is considered mostly ceremonial, but legal scholars have found conflicting constitutional provisions regarding the actual extent of presidential powers.
The Republic of Iceland is considered a parliamentary representative democratic republic, with the seat of government centered in the capital city, Reykjavik. The country became a sovereign state under the Danish Crown on December 1, 1918, and obtained its independence from Denmark on June 17, 1944. The national holiday is Independence Day, celebrated on June 17.
Iceland’s current constitution was originally adopted on June 16, 1944 and became effective the following day. The document allows for universal suffrage at 18 years of age.
The Republic of Iceland consists of eight regions:
The President is Iceland's chief of state. This person is elected by popular vote to a four year term, with no term limits. Olafur Ragnar Grimsson, the current President, assumed the duties of the largely ceremonial post on August 1, 1996.
The head of government is the Prime Minister. Typically, following legislative elections, the leader of the majority party or coalition is named to this post. Geir H. Haarde, the current Prime Minister, began his official duties on June 7, 2006.
All cabinet ministers are appointed by the Prime Minister. The current ministers are:
The Icelandic Parliament (Althing) is a unicameral body consisting of 63 officials. Members are elected by popular vote to serve four year terms.
The current structure of Parliament, by political party is (number of seats):
The country’s judicial branch consists of the Supreme Court (Haestirettur) and eight district courts. All justices are appointed for life by the Minister of Justice.
The Icelandic legal system is based on Danish law. The country has not accepted compulsory International Court of Justice (ICJ) jurisdiction.
References
Althing's English Pages - Iceland Parliament Official Website.
Barrientos, Miguel. Index Mundi. 2007.
Government Offices of Iceland Official Website.