Home » Elite Class Warfare » Former Iceland PM faces trial over bank collapse

Former Iceland PM faces trial over bank collapse

Former Iceland PM faces trial over bank collapse

Icelandic lawmakers have concluded the country’s former prime minister ought to be tried for “economic negligence” over the catastrophic failure of its banking system and currency. A special investigation committee, known popularly as the Truth Commission, recommended that Geir Haarde, the former prime minister, stand trial, along with Björgvin Sigurdsson, the former minister of commerce, and Árni Mathiesen, the former minister of finance. It found during an 18-month inquiry that the three men showed recklessness in their handling of Iceland’s financial crisis, which brought down its three banks and crippled the currency in October 2008. The crisis also sparked a diplomatic row with Britain over the £2.3 billion bill for the failure of Icesave, an internet bank based in Reykjavik that offered high-interest rate accounts to UK savers.

http://www.telegraph.co.uk/news/worldnews/europe/iceland/7997855/Former-Iceland-PM-faces-trial-over-bank-collapse.html

You must be logged in to post a comment Login