Icelandic President Olafur Ragnar Grimsson on Monday announced that he will seek another term in office in June's upcoming election, amid political turmoil.
"I have invited you here today to announce that after much consideration I have come to the conclusion to... stand for re-election," Grimsson said.
Grimsson, 72, has been president since 1996. In January, he had announced that he would not run again.
But the country fell into crisis this month after former prime minister Sigurdur David Gunnlaugsson was pressured to resign amid mass protests over a hidden offshore account worth millions of dollars.
He and his wife Anna Sigurlaug Palsdottir were cited in the "Panama Papers" leak of millions of financial records.
Grimsson played a calming role during the crisis, opposing the head of government who wanted to dissolve parliament in haste. On April 7, he swore in a new prime minister, Sigurdur Ingi Johannsson.
The president's decision to seek re-election drew criticism from the opposition.
"What do you call a country where a president in power for 20 years, promises not to run, and then changes his mind?" the co-founder of the Pirate Party, Smari McCarthy, quipped on Twitter.
Monday's announcement marks the second time that Grimsson has changed his mind. In 2012 he announced that he would not stand, before being persuaded by a petition to run again.
The presidency in Iceland is largely a ceremonial position, and Grimsson has limited powers. He can call a referendum on a law passed by parliament if it is felt the whole nation should have a say.
Grimsson's earlier terms were marked by the financial crisis of 2008 which devastated the small island's economy.
He subsequently convened two referendums, in 2010 and 2011, over the astronomical sums demanded by Britain and the Netherlands after savings bank Icesave went bust.
Icelandic President Olafur Ragnar Grimsson on Monday announced that he will seek another term in office in June’s upcoming election, amid political turmoil.
“I have invited you here today to announce that after much consideration I have come to the conclusion to… stand for re-election,” Grimsson said.
Grimsson, 72, has been president since 1996. In January, he had announced that he would not run again.
But the country fell into crisis this month after former prime minister Sigurdur David Gunnlaugsson was pressured to resign amid mass protests over a hidden offshore account worth millions of dollars.
He and his wife Anna Sigurlaug Palsdottir were cited in the “Panama Papers” leak of millions of financial records.
Grimsson played a calming role during the crisis, opposing the head of government who wanted to dissolve parliament in haste. On April 7, he swore in a new prime minister, Sigurdur Ingi Johannsson.
The president’s decision to seek re-election drew criticism from the opposition.
“What do you call a country where a president in power for 20 years, promises not to run, and then changes his mind?” the co-founder of the Pirate Party, Smari McCarthy, quipped on Twitter.
Monday’s announcement marks the second time that Grimsson has changed his mind. In 2012 he announced that he would not stand, before being persuaded by a petition to run again.
The presidency in Iceland is largely a ceremonial position, and Grimsson has limited powers. He can call a referendum on a law passed by parliament if it is felt the whole nation should have a say.
Grimsson’s earlier terms were marked by the financial crisis of 2008 which devastated the small island’s economy.
He subsequently convened two referendums, in 2010 and 2011, over the astronomical sums demanded by Britain and the Netherlands after savings bank Icesave went bust.
