Iceland's former PM on trial over financial crisis

clock

Iceland's parliament has voted to send former Prime Minister Geir Haarde to court over his role in the financial crisis.

The former leader could face up to two years imprisonment if he is convicted for negligence, after a report commissioned by parliament showed more could have been done to mitigate the damage done by the collapse of the Icelandic banks in 2008. Haarde says: "This charge borders on political persecution," and points out the prime minister Johanna Sigurdardottir and foreign minister Ossur Skarphedinsson have not been referred to court, the BBC reports. Haarde will face the Landsdomur, a special court set up in 1905 to try ministers accused of crimes. It has never yet been used. In aut...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Investment

Navigating the intergenerational wealth shift with tokenisation

Navigating the intergenerational wealth shift with tokenisation

'Already gaining significant traction in fund management'

Stephen Ashurst
clock 21 May 2024 • 3 min read
Future of Investment Festival: Ten key reasons for advisers to attend

Future of Investment Festival: Ten key reasons for advisers to attend

Last call to financial advisers to join us on 5 June

Professional Adviser
clock 21 May 2024 • 2 min read
David Coombs: How to stop the exodus to Uncle Sam

David Coombs: How to stop the exodus to Uncle Sam

What's needed to stem the flow of UK companies rushing to list abroad?

David Coombs
clock 16 May 2024 • 3 min read