Abstract

Moving from an analysis of post-2008 economic and political turmoil in Iceland, the article focuses on two controversial aspects of the reforms made in response to the institutional crisis arising from the collapse of the banking system. The first involves legislative reforms known as the 'Emergency Act' restricting constitutionally- protected property rights, mainly of foreign creditors, and the problems of constitutional review by judges in relation to such measures. The second regards the process of constitutional amendment triggered by the economic crisis, focusing on the innovative routes of the reform process, where great emphasis was put on the involvement of the public and the exclusion of politicians or political parties from the drafting stages of a new constitution.