By Jordan Shilton WSWS
Last month, former Prime Minister Geir H. Haarde became the first leading political figure to be charged for his part in the 2008 economic collapse, which hit Iceland with particular severity. In a charge filed at the Reykjavík district court, Haarde was accused of criminal negligence in his prime ministerial duties between February 2008 and October 2008—the period preceding the downfall of Iceland’s major financial institutions. If found guilty, Haarde could face two years’ imprisonment.
The charges were brought by the special prosecutor’s office investigating the 2008 crash, led by Olafur Hauksson. Hauksson’s team has also recently brought charges against leading executives in Iceland’s failed banks, Kaupthing, Glittnir and Landsbanki. At the end of June, three Kaupthing executives were acquitted of all charges against them.