Former Kaupthing CEO Will Not Apologize to Icelanders Skip to content

Former Kaupthing CEO Will Not Apologize to Icelanders

Former Kaupthing CEO Hreidar Már Sigurdsson said in an interview on RÚV’s news magazine Kastljós last night that it is not his place to apologize to the Icelandic nation. He stated that it would not be financially burdened because of Kaupthing’s bankruptcy.

The headquarters of Kaupthing in Reykjavík. Copyright: Icelandic Photo Agency.

Sigurdsson claimed that the Central Bank of Iceland had made terrible mistakes, but wouldn’t go into further details. He explained that in countries were Kaupthing had been allowed to operate in a natural business environment the bank’s operations had been successful, Fréttabladid reports.

Sigurdsson then defended Kaupthing’s loan policy, stating that loans to investment company Exista, the bank’s largest shareholder, had been natural. The former CEO mentioned that he did owe the bank’s shareholders, employees and claimants an apology.

Click here to watch the interview with Sigurdsson.

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