Prime Minister Geir Haarde resigns due to the collapse of his coalition following the breakdown of the Icelandic economy. I’m a little confused as to why the early elections have been called for May 9. It seems that given the nature of the situation, Icelanders could use early elections to happen really early — like sometime in mid-to-late February. The ability to call early elections when incumbents have been discredited is one of the strengths of these kind of systems of government, but you may as well use the power to actually avoid America-style “months of drifting aimlessly.” But the election date was set a couple of days ago, so maybe as a result of the decision to resign it can be moved up even further. I’ll admit that I’m not entirely familiar with Icelandic constitutional procedures.