al Democratic Alliance 31.0%, Progressive Party 17.7%,
Left-Green Alliance 8.8%, Liberal Party 7.4%; seats by party -
Independence Party 22, Social Democratic Alliance 20, Progressive
Party 12, Left-Green Alliance 5, Liberal Party 4

Judicial branch:
Supreme Court or Haestirettur (justices are appointed for life by
the Minister of Justice); eight district courts (justices are
appointed for life by the Minister of Justice)

Political parties and leaders:
Independence Party or IP [David ODDSSON]; Left-Green Alliance or
LGP [Steingrimur SIGFUSSON]; Liberal Party or LP [Gudjon
KRISTJANSSON]; Progressive Party or PP [Halldor ASGRIMSSON]; Social
Democratic Alliance (includes People's Alliance or PA, Social
Democratic Party or SDP, Women's List) or SDA [Ossur SKARPHEDINSSON]

Political pressure groups and leaders:
NA

International organization participation:
Australia Group, BIS, CBSS, CE, EAPC, EBRD, EFTA, FAO, IAEA, IBRD,
ICAO, ICC, ICCt, ICFTU, ICRM, IDA, IFAD, IFC, IFRCS, IHO, ILO, IMF,
IMO, Interpol, IOC, ISO, ITU, MIGA, NATO, NC, NEA, NIB, OECD, OPCW,
OSCE, PCA, UN, UNCTAD, UNESCO, UPU, WCO, WEU (associate), WHO, WIPO,
WMO, WTO

Diplomatic representation in the US:
chief of mission: Ambassador Helgi AGUSTSSON
consulate(s) general: New York
FAX: [1] (202) 265-6656
telephone: [1] (202) 265-6653
chancery: Suite 1200, 1156 15th Street NW, Washington, DC 20005-1704

Diplomatic representation from the US:
chief of mission: Ambassador James I. GADSDEN
embassy: Laufasvegur 21, 101 Reykjavik
mailing address: US Embassy, PSC 1003, Box 40, FPO AE 09728-0340
telephone: [354] 562-9100
FAX: [354] 562-9118

Flag description:
blue with a red cross outlined in white extending to the edges of
the flag; the vertical part of the cross is shifted to the hoist
side in the style of the Dannebrog (Danish flag)

Economy Iceland

Economy - overview:
Iceland's Scandinavian-type economy is basically capitalistic, yet
with an extensive welfare system (including generous housing
subsidies), low unemployment, and remarkably even distribution of
income. In the absence of other natural resources (except for
abundant geothermal power), the economy depends heavily on the
fishing industry, which provides 70% of export earnings and employs
12% of the work force. The economy remains sensitive to declining
fish stocks as well as to fluctuations in world prices fo