By Louise Rasmussen, Isabelle Yr Carlsson and Jacob Gronholt-Pedersen
COPENHAGEN (Reuters) – Iceland will go to the polls on Saturday with voters likely to topple the ruling coalition in their bid to escape a cost-of-living crisis, although an expected snowstorm could delay the counting of votes.
The North Atlantic island nation, home to 384 people, has enjoyed political stability since 2017 and is among the wealthiest countries in Europe per capita, supported by tourism, fishing, and cheap geothermal- and hydroelectric-powered aluminum production.
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However, inflation and debt near the highest levels since the financial crisis in 2008 have helped fuel the recession, putting the growing crisis ahead of voters’ concerns.
A series of volcanic eruptions near the capital Reykjavik, causing the evacuation of thousands and expensive infrastructure repairs, has added to the issue and reduced tourism.
Polls open at 0900 GMT on Saturday and close at 2200 GMT, with results expected on Sunday morning.
However, a severe snow storm was expected to hit the eastern part of the country on Saturday, which could delay the counting of votes, and authorities urged voters to vote early.
The polls show the ruling coalition of the Left-Green Movement, the conservative Independence Party, and the center-right Progressive Party, which has been in power for the past seven years, is likely to be unstoppable.
“We have had the same cooperation for seven years, and it seems that there is a need now for new people in the government,” said Stefania Oskarsdottir, a political scientist at the University of Iceland.
Katrin Jakobsdottir of the Left-Green Movement resigned as president in April to run for president, which she won. His successor, Bjarni Benediktsson of the Independence Party, dissolved parliament in October and called an election following growing union rifts and public discontent over immigration, energy and housing.
Iceland’s population has risen by 20% in the last decade, the highest increase among OECD countries, due to high levels of immigration, putting more pressure on housing and health.
Although inflation and interest rates have recently started to decline, the financial crisis has brought the question of EU membership back into the electoral debate. Polls show that the pro-EU Social Democrats and Liberal Reform Party combined could get 40% of the vote.
The centre-left Social Democratic Alliance, last in power between 2009 and 2013, will get just over 20 percent of the vote, followed by the centre-right Liberal Reform Party.
“The main issue here right now is the cost of living,” Social Democratic leader Kristrun Frostadottir told Reuters in an interview.
The 36-year-old economist, who took over as party leader two years ago, is a champion of the Nordic welfare model and wants to be the new leader.
(Reporting by Louise Breusch Rasmussen, editing by William Maclean)