Securing 41.4% of the vote in the 1996 presidential election, Ólafur Ragnar Grímsson became the fifth president of Iceland. His tenure spanned two decades, ending in 2016. Before reaching the presidency, he built a career as a political scientist and an active participant in the Icelandic legislative system through the Althing and the People's Alliance.
Academic Background and Early Career
Born in 1943 in Ísafjörður, Ólafur attended the University of Manchester, where he earned a Bachelor of Arts in economics and political science in 1965 and a PhD in political science in 1970. He holds the distinction of being the first Icelander to earn a doctorate in this field. Upon returning to Iceland, he joined the University of Iceland, becoming its first Professor of Political Science in 1973.
Twenty questions, eight minutes on the clock, and a percentile measured against everyone who has taken it. No sign-up.
Take the IQ test →Legislative and Ministerial Roles
Ólafur served multiple terms as a Member of the Althing, first from 1978 to 1983 and later from 1991 to 1996. During his political ascent, he acted as Minister of Finance and Economic Affairs from 1988 to 1991. He was also involved in international diplomacy as a representative to the Parliamentary Assembly of the Council of Europe during the periods of 1980–1984 and 1995–1996.
The Presidency and the Icesave Dispute
During the 2008 financial crisis, Ólafur utilized his presidential veto power against government measures intended to repay British and Dutch authorities for the bailouts of private Icelandic banks. Known as the Icesave dispute, the issue was put to public referendums in 2010 and 2011. In both instances, the public voted to uphold his veto, rejecting the proposed repayment terms.
Awards and International Honours
Throughout his career, Ólafur received several international decorations. These include the Knight of the Order of the Elephant (1996), the Grand Cross with Collar of the Order of the White Rose of Finland (1997), and the Knight Grand Cross of the Order of St. Olav (1998). He was also awarded the Jawaharlal Nehru Award for International Understanding in 2007.
Fast facts
- Born: 1943, Ísafjörður
- President of Iceland: 1996–2016
- Minister of Finance and Economic Affairs: 1988–1991
- Education: University of Manchester, University of Iceland
- PhD in Political Science: 1970
- Member of the Althing: 1978–1983, 1991–1996
Questions readers ask
How many terms did Ólafur serve as President?
He served five terms as President of Iceland, holding office from 1996 until 2016.
What was the Icesave dispute?
It was a conflict over whether Iceland should repay foreign governments for private bank bailouts, which Ólafur vetoed twice, resulting in public referendums that supported his decision.
Achievements
- Minister of Finance and Economic Affairs (Iceland) (1988–1991)
- President of Iceland (1996–2016)
- Member of the Althing (1978–1983)
- Representative of the Parliamentary Assembly of the Council of Europe (1980–1984)
- Knight Grand Cross of the Order of St. Olav — 1998
- Collar of the Order of the Cross of Terra Mariana
- Knight of the Order of the Elephant — 1996
- Royal Order of the Seraphim
- Educated at University of Manchester and University of Iceland
