"In recent years we thought we were seeing the craziest, but we were proven wrong every time - Iceland found ways to be even crazier," a parliamentary assistant from the Icelandic opposition said on April 6, seeing a government in tatters hesitate on its next move.
Former Prime Minister Sigmundur David Gunnlaugsson had resigned the day before over revelations of his holdings stashed away in a tax haven.
The anti-establishment Pirate Party was pushing at the gates of power - but they never opened.
The government said it would wait six months to hold a snap election, triggered by the latest scandal in a country that had seen its share already after the 2008 financial meltdown.
The outcome in October dashed the hopes of a clear-cut exit to the political crisis. Neither the left, the right, nor the centre had a majority.
Efforts to form a coalition were paralysed by everyone's refusal to deal with Gunnlaugsson's centrist Progressive Party, which won eight of the 63 seats.
Icelandic Finance Minister Bjarni Benediktsson, who had set up an offshore company in the Seychelles, even saw his party, the Conservatives, win the most seats, with 21. Gunnlaugsson is still an MP.
The "Pirates" revolution did not take place. Instead, the 2017 budget, adopted days before Christmas, was a compromise between the outgoing government's bill and concessions to other parties.
To form a new cabinet, "several formal and informal talks have taken place without leading to anything, and no one knows yet what will emerge," the daily Frettabladid wrote yesterday.
Even the sworn enemies, the Independence Party and the Left-Green Movement, made an attempt. The Pirate Party, given a mandate by the president in December, failed as well.
In the last days of 2016, it was back to square one with the right renegotiating with centrists.
Disclaimer: No Business Standard Journalist was involved in creation of this content
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →
Smart Quarterly
₹900
3 Months
₹300/Month
Smart Essential
₹2,700
1 Year
₹225/Month
Super Saver
₹3,900
2 Years
₹162/Month
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors


Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share


Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor


Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements


Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app
