 He was a member of the Althing for 22 years, 1987–2009.Geir was Chairman of the Independence Party Parliamentary Group from 1991 to 1998 and a member of the Alþing's Foreign Affairs Committee from 1991 to 1998; he was Chairman of the Foreign Affairs Committee from 1995 to 1998.He served as Minister of Finance from April 1998 to September 2005 and then as Minister for Foreign Affairs from September 2005 to June 2006.