Lawmakers Blame Former Government For Banking Crisis

On Saturday, a parliamentary commission blamed Geir Haarde, Prime Minister of Iceland and three other ministers, for their carelessness that gave birth to banking and financial meltdown in 2008 in the country.

The allegations have been made by Special Investigation Commission (SIC) run on ad hoc basis. He criticized the former Government headed by Haarde and former Finance Minister, Arni M. Mathiessen, ex-Commerce Minister, Bjoergvin G. Sigurdsson and former Foreign Minister, Solrun Gisladottir for their negligence that landed three banks of the country to collapse in 2008.

Similar findings were also brought out way back in April by "Truth Report" that also blamed the former Government for the failure of Iceland banking during recession. The report suggested putting the convicts to trials.

The commission was originated in the end of 2008 when the three major banks collapsed. Its report said, “The former ministers showed themselves to be negligent and they should be tried and punished by the Landsdomur court”.

On Monday, a meeting will be held with Icelandic parliament to discuss the report and to make a decision over if a prosecutor and judges for the Landsdomur are to be appointed to follow lawsuit against former government officials. No consensus was reached last time when suggestions were asked from the Parliament.