History
The Independence Party was founded on 25 May 1929 through a merger of the Conservative Party and the Liberal Party. It readopted the name of the historical Independence Party, which had split between the Conservatives and Liberals in 1927. From its first election, in 1931, it was the largest party in Iceland.
The Independence Party won the 2007 elections, increasing their seat tally in the Althing by 3. It formed a new coalition government under Haarde with the Social Democratic Alliance, after their current coalition partner, the Progressive Party, lost heavily in the elections.
In the 2009 elections, the Independence Party dropped from 25–26 to 16 seats in the Althing, becoming Iceland's second-largest party following the Social Democratic Alliance (which gained two seats, to 20.)
Read more about this topic: Independence Party (Iceland)
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