[2] Elected to a four-year term, the President has limited powers and is poised in a largely ceremonial office that serves as a diplomat and figurehead.

This has never happened since the republic was founded in 1944, but in 1942 the regent of the country (Sveinn Björnsson, who had been installed in that position by the Althing in 1941) appointed a non-parliamentary government.

After four four-year terms as the world's first elected woman president, the widely popular Vigdís Finnbogadóttir chose not to run for re-election in 1996.

[3] More than 86% of voters turned out in the 29 June 1996 presidential elections to give former leftist party chairman Ólafur Ragnar Grímsson a 41% plurality and relatively comfortable 12% victory margin over the closest of three other candidates.

Traditionally limited to 6–12 weeks, Iceland's campaign season was marked by several intensely personal attacks on Ólafur Ragnar, a former finance minister who tried to erase memories of his controversial support of inflationary policies and opposition to the U.S. military presence at the NATO base in Keflavík.

Ólafur Ragnar successfully used his largely ceremonial office to promote Icelandic trade abroad and family values at home.

[6] In losing four seats in April 1995 parliamentary elections, the IP and SDP (so-called Viðey government) mustered a simple majority in the 63-seat Althing.

However, Prime Minister and IP leader Davíð Oddsson chose the resurgent Progressive Party (PP) as a more conservative partner to form a stronger and more stable majority with 40 seats.

[8] Organized protests held to highlight and challenge political corruption since 2008 have therefore come to stress the necessity for the new Icelandic constitution that was co-drafted by the 2009 leftist government and select members of the public to be enshrined into law.

Until 1988, Iceland was divided in 23 counties (sýslur, singular sýsla) and 14 independent towns* (kaupstaðir, singular kaupstaður); Akranes*, Akureyri*, Árnessýsla, Austur-Barðastrandarsýsla, Austur-Húnavatnssýsla, Austur-Skaftafellssýsla, Borgarfjarðarsýsla, Dalasýsla, Eyjafjarðarsýsla, Gullbringusýsla, Hafnarfjörður*, Húsavík*, Ísafjörður*, Keflavík*, Kjósarsýsla, Kópavogur*, Mýrasýsla, Neskaupstaður*, Norður-Ísafjarðarsýsla, Norður-Múlasýsla, Norður-Þingeyjarsýsla, Ólafsfjörður*, Rangárvallasýsla, Reykjavík*, Sauðárkrókur*, Seyðisfjörður*, Siglufjörður*, Skagafjarðarsýsla, Snæfellsnes- og Hnappadalssýsla, Strandasýsla, Suður-Múlasýsla, Suður-Þingeyjarsýsla, Vestmannaeyjar*, Vestur-Barðastrandarsýsla, Vestur-Húnavatnssýsla, Vestur-Ísafjarðarsýsla, Vestur-Skaftafellssýsla Arctic Council, Australia Group, BIS, CBSS, CE, EAPC, EBRD, ECE, EFTA, FAO, IAEA, IBRD, ICAO, ICCt, ICC, ICRM, IDA, IEA (observer), IFC, IFRCS, IHO, ILO, IMF, IMO, Inmarsat, Intelsat, Interpol, IOC, ISO, ITU, ITUC, NATO, NC, NEA, NIB, OECD, OPCW, OSCE, PCA, UN, UNCTAD, UNESCO, UNMIK, UNU, UPU, WCO, WEU (associate), WHO, WIPO, WMO, WTrO