Icelandic government becomes first to be brought down by the credit crunch

The government of Iceland today became the first to be effectively brought down by the credit crunch. After several nights of rioting over the financial crisis, Prime Minister Geir Haarde, surrendered to increasing pressure and called a general election for May. A poll would not normally be held until 2011. Haarde also revealed that he had been diagnosed with a malignant tumour of the oesophagus and would not seek re-election.
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