Icelandic Prime Minister Geir Haarde Resigns, First Political Casualty Of Global Economic Crisis

02/24/2009 05:12 am ET | Updated May 25, 2011

Iceland's embattled Prime Minister Geir Haarde may have become the first political casualty of the global credit crisis, announcing his resignation yesterday, and clearing the way for elections in May. Illness was the official reason for Mr Haarde's decision to quit, but few in the capital Reykjavik were in any doubt that his departure was linked to a week of intense and violent public protests at once prosperous Iceland's economic implosion.

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