Iceland's Ex-PM Faces Jail Time for Failure to Prevent 2008 Financial Crash

8 Mar 2012

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Iceland's former Prime Minister, Geir Haarde, is the only political leader in the world to face prosecution over the financial and banking crisis that hit the world economy.

He is in the dock for failing to prevent the 2008 financial crisis that brought Iceland's economy to its knees.

According to Omar Vladimarsson of Reuters, "Haarde is charged with gross negligence for failing to take proper measures to prepare for an impending financial crash. He is also accused of failing to rein in the banks before their expansion threatened the whole economy."

In the clip featured above, Al Jazeera's Rory Challands reports from Iceland's capitol, Reykjavik.

Editor's Note: You might also be interested in further reporting from the BBC: "Trial of Iceland ex-PM Haarde over 2008 Crisis Begins".

You can find this page online at http://sacsis.org.za/site/article/1231.

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