Alþingi - the Icelandic Parliament

Alþingi, the Icelandic parliament, was founded in the year 930 and it is the oldest establishment in Iceland.

The government is based upon the principle of representative democracy, that power originates with the people, who delegate this power to their elected representatives.

Every fourth year, the electors choose, by secret ballot, 63 representatives to sit in parliament. These members of parliament jointly hold legislative powers, and also fiscal powers, i.e. the power to make decisions on public spending and taxation.

For further information see: http://www.althingi.is/vefur/upplens.html