Minister of Social Affairs Johanna Sigurdardottir of Iceland

Speaking on Icelandic television, Social Affairs Minister Johanna Sigurdardottir said there was a need to review Iceland's monetary policy, and "part of that would be a change of directors" at the central bank.

Calls for Oddsson to resign have grown as Iceland's banks and currency have collapsed, with some 200 people protesting outside the bank earlier this week, but Sigurdardottir is the first minister to call for his resignation.