lýðveldi
Lýðveldi is the Icelandic term for a republic, a form of government in which sovereignty is vested in the people and exercised through elected representatives rather than a monarch. The concept is rooted in the idea of political power derived from the citizens, and it is used to describe many countries around the world that have chosen non-monarchical systems of rule. Etymologically, lýðveldi combines elements meaning people and power.
Key features commonly associated with republics include regular, free elections; the rule of law and equality
In Icelandic context, Lýðveldið Ísland refers to the Republic of Iceland, established in 1944 after a referendum
See also: constitutional law, elections, separation of powers, head of state.