So you think things are bad here in the U.S. eh? Well just be glad you’re not living in Iceland. Our friends over the pond are on the verge of bankruptcy and on Sunday, Commerce Minister Bjorgvin Sigurdsson resigned due to pressure felt over the economic collapse, signaling the fracturing of the governing coalition. As of earlier today, in the midst of this terrible crisis in Iceland, there is no longer a functioning government, the ruling coalition has split.
Just prior to these developments, Prime Minister Geir Haarde had advanced the elections scheduled to take place in 2011 to this May. Suffice to say, the people of Iceland aren’t terribly happy. For more coverage of the ongoing crisis in Iceland check out the links below.