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Haarde, Iceland's former PM found not guilty over the country’s 2008 financial collapse

Monday, 23 April 2012
On Monday it was announced in a sentencing decision by the Icelandic court that the former Prime Ministerm  Geir Haarde had been found not guilty for the financial crisis that hit the country in 2008.

Geir Haarde was freed from three of the criminal charges but convicted on one point – that he failed to formally inform his fellow ministers about the troubles ahead, according to various reports. He was found not guilty of negligence over the 2008 financial crisis that saw the island's economy go into meltdown.

Haarde was guilty of negligence because he failed to hold special cabinet meetings in connection with the financial crisis. He will probably not get any punishment, reports several news media from Reykjavik.

Geir Haarde is the only politician so far to have been prosecuted for political mistakes made during the recent financial crises. An Icelandic court gave its answer to whether the then Prime Minister, Geir Haarde personally was responsible for the Icelandic financial system collapsed in autumn 2008.

Haarde, who was charged on four points for negligence, risked up to two years in prison if he had been convicted by the Court of Impeachment. He had denied all the allegations.
By Team

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