Iceland’s long-serving president to quit after 20 years

Iceland’s long-serving president says he will not be seeking re-election this year after leading the country for 20 years.

The decision paves the way for a presidential election in June.

Olafur Ragnar Grimsson, 72, said in his New Year’s message that he had decided not to stand for re-election after five consecutive terms beginning in 1996.

He said the time was now right to “transfer the responsibilities of the president to other shoulders”.

The president in Iceland has limited powers. He or she can call a referendum on a law passed by parliament if it is felt the whole nation should have a say.

No politician has yet expressed interest in the role, waiting to see Grimsson’s intentions.