Wednesday 18 October 2017

Former PM faces trial over bank crash

Rowena Mason in Reykjavik

Icelandic MPs have concluded the country's former prime minister should be tried for "economic negligence" over the catastrophic failure of its banking system and currency.

A special investigation committee recommended that Geir Haarde, the former prime minister, stand trial, along with Bjorgvin Sigurdsson, the former minister of commerce, and Arni Mathiesen, the former minister of finance.

The committee 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 its currency in October 2008.

The report said Mr Haarde and his colleagues ought to have realised the extremely serious nature of Iceland's financial problems more than six months before the crash. (© Daily Telegraph, London)

Irish Independent

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