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Iceland‘s President to seek fifth term

5th March | Category: News

Iceland’s President Olafur R. Grimsson has announced that he will be seeking a fifth four-year term in office in the upcoming elections to be held in June.

Grimsson, who previously indicated that he would not be running again, said he would seek another term after he was presented with a petition signed by more than 30,000 Icelanders urging him to see re-election.

The President gained popularity after twice blocking a parliamentary resolution aimed at repaying British and Dutch Icesave depositors after the failure of Landsbanki in 2008. Icelandic voters subsequently rejected a proposed agreement in a referendum last year, which would have used taxpayer money to settle the matter. The matter, which has not yet been settled, is expected to be resolved through an international tribunal.

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