The Meltdown

Iceland's Government Collapses

Things have been pretty quiet from Iceland since it almost destroyed the world or something in the fall, but it turns out that the tiny arctic nation still has more havoc to wreak. Iceland’s government collapsed today, making it the first administration to fall victim to the global financial crisis. The country’s ruling coalition disintegrated and Prime Minister Geir Haarde resigned, leaving “the country without a government amid its most serious economic crisis in recent history,” according to the Financial Times. Mr. Haarde announced he had cancer on Friday and would step down after elections in MayHis announcement led to infighting that eventually destroyed the country’s ruling two-party coalition.