Iceland is seeking a new government after the cabinet of Conservative Prime Minister Geir Haarde resigned, amid the country's dramatic economic collapse.
BBC News website readers tell of their reaction to the developments and their hopes for the future.
Finally the Icelandic government has done something to calm the public here in Iceland. Interestingly the head of the Central bank is still in office and I don't think people will be satisfied until he steps down.
Einar Ëli Gumundsson, Reykjavik, Iceland
At last they resign. They act very noble and say they have decided to take responsibility for the economic crash. But it's a bitter decision for them. They never thought the day would come that the Icelandic population would take to the streets and force them out of office.
Even though the economic future looks bleak for our country many people like myself are optimistic about the future. We have the opportunity to build a new truly democratic society based on new but at the same time old Icelandic values.
A conversation I had with an old Icelandic man in the hot tub in the Icelandic thermo swimming pool sums it up. He said, "At last the money people are gone. We have regained our country. I am starting to feel my old self again".
We have the opportunity to build a new truly democratic society
Stefan Thorgrimsson, Reykjavik
What the Icelandic state needs is a Government of Experts and to take charge of everything that has to do with the economy and to cleanse out the rot. Sadly I fail to see the solution the president of Iceland has by picking a minister from the crumbled government. There might be political stability within the parliament after the governmental collapse, but I doubt the same will be said in regards to the Icelandic population. I fear a non-event deadlocked government.
Solver H. Solversson, Reykjavik, Iceland
The real reason behind the resignation of the government is that the conservatives would rather allow the government to collapse rather than to fire the governor of the central bank.
We might have another riot on our hands very soon if he stays, but his days in power are numbered. Until now we never had the culture of resignation or people getting fired over a scandal. But this time people are fed up and want real change.
Until now we never had the culture of resignation... But this time people are fed up and want real change
Good to have got ridden of the government. Need to get rid of the managers of the Icelandic Central Bank. Worried about what will come.
Eyglˇ Yngvadˇttir, Kˇpavogur, Iceland
The people of Iceland have been waiting for someone to stand down since the banks collapsed. It's not about blaming someone personally, but more about regaining trust, domestically as well as internationally. What now has happened in a grand scale could have been prevented with the right actions right after the collapse of the banks. I feel that most people in Iceland are looking forward to the change and the chance of building new foundations for the future. It will be hard but it will be done.
Sveinn Kjartansson, Reykjavik, Iceland
Everyone is very happy, we hope this will lead us to a better future.
Arnar Jˇhannsson, ReykjavÝk Iceland
This is what we have been waiting for, but the truth is, this does not make me want to rejoice, I feel sad that it has come to this, but there is no other choice.We need a government that is willing to fight for the people, to stand guard over the regular person, not the rich and the famous. I am optimistic that this year, Iceland will surprise the world, we have had so many hard knocks in our history, this is just one more to make us stronger.
We have had so many hard knocks in our history, this is just one more to make us stronger
Linda, Rek. Iceland
I am very pleased that the government has collapsed. But I would like to hear ministers from the Social Democratic Party acknowledge that it was the voice of the people which precipitated this. Thousands of people have been out in the streets making it clear how dissatisfied they have been with the government. It is the people of Iceland who have come together to generate change. I am proud of the Icelandic people and I look forward to elections in May.
Amy Clifton, Reykjavik, Iceland
It is not a collapse, it is the power of democracy.
Helen Gray, MosfellsbŠr, Iceland
The atmosphere over here has been unbelievable in recent days. The collapse of the coalition was inevitable.
First a financial collapse, then an economic meltdown, and now utter political turmoil. Perhaps a total collapse was necessary in order to start building up something better: A society that rests on more solid foundations such as equality, integrity, honesty and transparency. I don't think this nation will allow the greedy business men destroy our country again.
I don't think this nation will allow the greedy business men destroy our country again.
Auur H Ingˇlfsdˇttir, Borgarnes, Iceland
This is not good. Not what we needed right now. Many people were protesting because no one did resign from the cabinet because of the finance crises and Mr Haarde did not fire the central bank governor and the director general of The Financial Supervisory Authority. There were also many who wanted election this spring or in the autumn.
Kristjan, Reykjavik, Iceland