This article is from the Nordic countries FAQ, by Antti Lahelma and Johan Olofsson, with numerous contributions by others.
Iceland is a constitutional republic governed by a general assembly, the
Althing, which is sometimes called the oldest democratic institution in
existense. The president is elected every four years by universal suffrage
for all persons over 18 years of age. Icelanders seem to like their
presidents, because a president running for reelection has in nine times out
of ten gone unopposed, and the tenth time won by a landslide. Real executive
power is held by the prime minister and the cabinet. Fore more information,
see the URL <http://www.althingi.is/~wwwadm/upplens.html>.
 
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