Iceland goes to the polls on Saturday in a general election expected to punish the ruling Social Democrat coalition over the austerity measures to bring the economy back from the brink.
The last opinion poll published before voting booths were due to open on Saturday showed that the opposition centre-right coalition was likely to make major gains four years after it was ousted over its handling of a dire financial crisis.
Iceland’s 235,000 eligible voters began casting their ballots at 0900 GMT and the first results are expected shortly after polls close at 2200 GMT.
The ruling coalition faces backlash amid promise of tax cuts and debt relief by the opposition.
“To me, this election is about whether my daughter will be able to keep her house or not,” said Thury Steinthorsdottir, 55, who runs a small bed and breakfast in Laugarvatn, 30km east of the capital, Reykjavik.
“The crash wiped out all the equity on her house and she’s now working 70-80 hours a week with three children just to keep up with payments. This can’t go on anymore.”
Polls favour Bjarni Benediktsson, the 43-year-old leader of the Independence Party, who has a lead over the Progressive Party’s Sigmundur David Gunnlaugsson, 38.
Benediktsson told reporters that taxes were too high, while Progressive Party leader Gunnlaugsson said that Iceland first had to tackle household debt because it was hindering the development of the economy.
“What is now missing in the economy is new job creation and new investment,” Benediktsson said.
The two parties in the outgoing coalition government, which have led the polls through much of the campaign, have, often jointly, been in power for nearly 30 years before the crash. They are expected to form a coalition.
An opposition win would likely end Reykjavik’s EU membership negotiations because the centrist Progressive Party and the eurosceptic conservative Independence Party are in favour of putting a halt to Iceland’s bid.
Voter discontent is visible in the unprecedented number of political parties that have exploded onto the scene. Fifteen parties will vie for the 63 seats in the Althing, or parliament.
One of them, the online file-sharing activist movement Pirate Party, could be the first of its kind elected to a national parliament.