Government
Politics of Iceland takes place in a framework of a parliamentary representative democratic republic, whereby the Prime Minister of Iceland is the head of government, and of a pluriform multi-party system. Executive power is exercised by the government. Legislative power is vested in both the government and parliament, the Althing. The Judiciary is independent of the executive and the legislature.
Visit the following website that give you detailed information on Government and Politics in Iceland:
http://www.iceland.is/government-and-politics/
http://en.wikipedia.org/wiki/Politics_of_Iceland