Iceland may get leftist interim government

REYKJAVIK, Iceland, Jan. 27 (UPI) -- The president of Iceland asked the leader of the Social Democratic Alliance to form an interim government Tuesday.

If Social Democratic leader Ingibjorg Gisladottir is successful, the shift will mean the end of two decades of conservative government in the island nation, Financial Times reported. The new government will probably include the Left Green Party.

President Olafur Ragnur Grimsson said the government would function until parliamentary elections in May, the BBC reported.

Prime Minister Geir Haarde resigned Monday after weeks of economic trouble and increasingly angry popular demonstrations. Haarde, an economist with a degree from the University of Minnesota, had been prime minister since 2006.

Iceland's financial system collapsed late last year when its overextended banks were unable to get access to credit. In October, the government took over the three largest banks, and the value of the krona has skidded.