REYKJAVIK, Iceland — Iceland’s former prime minister goes on trial as the first world leader to face criminal charges over the 2008 financial crisis that affected much of the world economy.
Geir Haarde became a symbol of the bubble economy for Icelanders who lost their jobs and homes after the country’s main commercial bank collapsed in 2008, sending its currency into a nosedive and inflation soaring. He is accused of negligence for failing to prevent the financial implosion from which the small island country is still struggling to recover. Haarde rejects the charges against him. He appears Monday at Landsdomur, an impeachment court being convened for the first time in Iceland’s history to try him.
Iceland’s former prime minister goes on trial Monday March 5, 2012 as the first world leader to face criminal charges over the 2008 financial crisis that affected much of the world economy. Geir Haarde became a symbol of the bubble economy for Icelanders who lost their jobs and homes after the country’s main commercial bank collapsed in 2008, sending its currency into a nosedive and inflation soaring.