Executive powers Cabinet The president appoints ministers to the
Cabinet of Iceland, determines their number and division of assignments. Ministers are not able to resign and must be discharged by the president. While the president is vested with executive power, they are not responsible for exercising it. Their acts are not valid without the countersignature of a minister, who then assumes political responsibility for the act. In the aftermath of general elections, the president has the role to designate a party leader (the one that the president considers most likely to be able to form a majority coalition government) to formally start negotiations to form a government.
Sveinn Björnsson and
Ásgeir Ásgeirsson played highly active roles in the formation of governments, attempting to set up governments that suited their political preferences, whereas
Kristján Eldjárn and
Vigdís Finnbogadóttir were passive and neutral as to individuals and parties comprising the government.
State Council The president and the Cabinet meet in the State Council. The Cabinet must inform the president of important matters of the state and drafted bills. During meetings the Cabinet may also suggest convening, adjourning or dissolving the Parliament.
Prosecution and pardoning The president can decide that the prosecution for an offense be discontinued and can also grant
pardon and amnesty.
Legislative powers Article 2 of the constitution states that the president and the Parliament jointly exercise the legislative power. The president signs bills passed by the Parliament into law and can choose not to sign them, thus in effect
vetoing them. Bills vetoed by the president still take effect, should the Parliament not withdraw them, but they must be confirmed in a referendum.
Ólafur Ragnar Grímsson (who served 1996–2016) is the only president to have vetoed legislation from Parliament, having done so on three occasions (2004, 2010, 2011). This power was originally intended to be used only in extremely extenuating circumstances. The president has the power to submit bills and resolutions to the Parliament which it must take under consideration. Should the Parliament not be in session, the president can issue provisional laws which must conform with the constitution. Provisional laws become void if the Parliament does not confirm them when it convenes. No president has ever submitted bills nor resolutions, nor issued provisional laws. Article 30 of the constitution states that the president can grant exceptions from laws. No president has yet exercised this authority.
Parliament The president convenes the Parliament after general elections and formally dissolves it. They can temporarily adjourn its sessions and move them if they deem it necessary. Furthermore, the president opens all regular sessions of the Parliament each year.
Ceremonial duties The president is the designated grand master of the
Order of the Falcon. ==Detailed powers==