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Democratic Exit from the Crisis: The Developments in Iceland Politics between 2008-2017

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  • Yavuz YILDIRIM

Abstract

Iceland experienced the 2008 economic crisis intensely as the banking system collapsed. The various developments ocurred in the country over the past decade, such as a new constitution making process, the loss of legitimacy of the long-running ruling parties, the formation of new parties, the rise of old minor parties, frequently renewal of elections, coalition building efforts, referendums on debts and EU membership. The study aims to explain how democratic claims in Iceland govern economic crisis and change the established political spectrum. Icelandic politics, with its peaceful street demonstrations and the possibility of institutional new political construction, has brought democracy beyond the liberal democracy. This tiny island is a concrete case that the economic crisis can be overcome by staying within the democratic initially announced as collapse, explosion, melting.

Suggested Citation

  • Yavuz YILDIRIM, 2019. "Democratic Exit from the Crisis: The Developments in Iceland Politics between 2008-2017," Sosyoekonomi Journal, Sosyoekonomi Society, issue 27(39).
    • Handle: RePEc:sos:sosjrn:190111
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    References listed on IDEAS

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    1. Thorolfur Matthiasson, 2008. "Spinning out of control, Iceland in crisis," Nordic Journal of Political Economy, Nordic Journal of Political Economy, vol. 34, pages 1-3.
    2. Ásgeir Jónsson & Hersir Sigurgeirsson, 2016. "The Icelandic Financial Crisis," Palgrave Macmillan Studies in Banking and Financial Institutions, Palgrave Macmillan, number 978-1-137-39455-2, December.
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    More about this item

    JEL classification:

    • H80 - Public Economics - - Miscellaneous Issues - - - General
    • H83 - Public Economics - - Miscellaneous Issues - - - Public Administration
    • F63 - International Economics - - Economic Impacts of Globalization - - - Economic Development
    • F69 - International Economics - - Economic Impacts of Globalization - - - Other

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