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Yearbook 1996

Iceland. According to, the year was marked politically by Vigdís Finnbogadóttir leaving her post as I president after 16 years. After an election campaign characterized by an unusual throw for Iceland unusual, Ólafur Ragnar Grímsson was elected as her successor, with 40.9% of the vote. Grímsson, a career politician with two party exchanges and an unpopular period as finance minister in the baggage, won over Pétur Hafstein, a judge in the Supreme Court, and Gudrun Agnarsdóttir, also her lawyer. Traditionally, Iceland's president does not have much power, something Grímsson said he wanted to change.

1996 Iceland

In 1996, the Iceland economy remained at a level that would have guaranteed the country access to economic and monetary union EMU had it been an EU member. A low inflation of just over 2%, an unemployment rate which by 4.5% was lower than that of the Nordic neighbors, strong growth and a balanced trade, gave Iceland a good year. This year too, the fishing industry was the hub of the economy. Of the 2 million tonnes caught, 97% went on exports (almost 80% of goods exports).

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