The South African Civil Society Information Service
A nonprofit news agency promoting social justice. Seeking answers to the question:
How do we make democracy work for the poor?
A nonprofit news agency promoting social justice. Seeking answers to the question:
How do we make democracy work for the poor?
The Supreme Court of Iceland last Thursday upheld the convictions of four former banking executives charged with market manipulations. Iceland has now convicted the top officers of all three of its major banks. Associate professor of Economics and Law, Bill Black, says Iceland is one of the hardest places in the world to achieve the successful prosecution of banking executives. But, contends Black, if Iceland could do it, the U.S., with all the resources of the FBI and Justice Department,...
Matthew Deaves -
Over the last decade Iceland, more than any other country, has been held up as a model of how to do things right. Pre-crash Iceland was championed by the Right as a shining example of the benefits of liberalized finance. After the financial crisis of 2008 proved them disastrously wrong Iceland was again touted as an example to emulate, this time by the Left. It was lauded as the country that had not taken the crash lying down. According to this narrative, Icelanders had with righteous fury...
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...
Icelandic People Said No -
In Europe, people in many countries are saying no to paying for the crisis and bailing out the banks, and to a large extent, leading the way, are the people of Iceland -- at the ballot box and on the streets.
Michael Hudson, professor of economics at University of Missouri, Kansas City provides some insights into how exactly the Icelandic people have gone about holding their government accountable. "What happened in Iceland is being used as a test case for what is happening in Greece...
Fazila Farouk -
It’s always been understood that the one group with the greatest potential to bring about change is the youth. After all, it’s their future that’s at stake. And this year, young people all over the world have been at the forefront of news making struggles.
The one thing we should not forget about Mohamed Bouazizi, the young Tunisian who set himself alight catalysing the fall of dictatorships throughout North Africa, is that his immediate demand was about direct...
The third episode of Al Jazeera's must see documentary, Meltdown, looks at how the victims of the 2008 financial crash fight back. A protesting singer in Iceland brings down the government; in France a union leader oversees the kidnapping of his bosses; and thousands of families are made homeless in California.
Hordur Torfason, an Icelandic singer, leads the way in holding protests over the country's economy, calling for the resignation of the government and new elections.
Geir...
