Everybody is polite and formal at the trial of former Icelandic Prime Minister Geir H. Haarde, which began last week inside a historic mansion in the capital, Reykjavik. Yet the atmosphere is tense, and the stakes are high.
Iceland is using a criminal trial examining former Prime Minister Geir H. Haarde’s role in the island’s 2008 banking crisis as a platform to seek laws that will make it easier to prosecute politicians.
Iceland’s trial of former Prime Minister Geir H. Haarde for his role in the island’s 2008 bank crisis may face hurdles as policies he backed have since proved key in propelling the nation’s economic resurrection.
Iceland’s pension funds, which hold the bonds behind most of the country’s mortgage debt, will try to block proposals to forgive as much as $2 billion in bad loans that the government says it is considering.