During a national financial crisis, thousands of people protested (pictured) at the Icelandic parliament in Reykjavík.

The Icelandic financial crisis was a major economic and political event in Iceland between 2008 and 2010. It involved the default of all three of the country's major privately owned commercial banks in late 2008, following problems in refinancing their short-term debt and a run on deposits in the Netherlands and the United Kingdom. Relative to the size of its economy, Iceland's systemic banking collapse was the largest of any country in economic history. The crisis led to a severe recession and the 2009 Icelandic financial crisis protests.

The 2009–2011 Icelandic financial crisis protests, also referred to as the Kitchenware, Kitchen Implement or Pots and Pans Revolution, occurred after the 2008–2011 Icelandic financial crisis. There had been regular and growing protests since October 2008 against the Government of Iceland's handling of the 2008 financial crisis. The protests intensified on 20 January 2009 with thousands of people protesting at the parliament (Althing) in Reykjavík. These were at the time the largest protests in Icelandic history.

The Alþingi, anglicised as Althingi or Althing, is the supreme national parliament of Iceland. It is the oldest surviving parliament in the world. The Althing was founded in 930 at Þingvellir, about 45 kilometres (28 mi) east of what later became the country's capital, Reykjavík. After Iceland's union with Norway in 1262, the Althing lost its legislative power, which was not restored until 1904 when Iceland gained home rule from Denmark. For 641 years, the Althing did not serve as the parliament of Iceland; ultimate power rested with the Norwegian, and subsequently, Danish throne. Even after Iceland's union with Norway in 1262, the Althing still held its sessions at Þingvellir until 1800, when it was discontinued. It was restored in 1844 by royal decree and moved to Reykjavík. The restored unicameral legislature first came together in 1845 and after 1874 operated in two chambers with an additional third chamber taking on a greater role as the decades passed until 1991 when Althing became once again unicameral. The present parliament building, the Alþingishús, was built in 1881, made of hewn Icelandic stone. The unicameral parliament has 63 members, and is elected every four years based on party-list proportional representation. The current speaker of the Althing, since February 2025, is Þórunn Sveinbjarnardóttir.