Iceland Crisis Report: No One Takes Responsibility Skip to content

Iceland Crisis Report: No One Takes Responsibility

When the Special Investigative Commission (SIC) presented its report yesterday, the committee’s chairman, Páll Hreinsson, said no one of the 147 people the SIC interviewed while making the report would take responsibility for the banking collapse.

Páll Hreinsson at the press conference yesterday. Photo by Geir Ólafsson.

Three former ministers, former Prime Minister Geir H. Haarde, former Finance Minister Árni M. Mathiesen and former Minister of Business Affairs Björgvin G. Sigurdsson, three former governors of the Central Bank, Davíd Oddsson, Ingimundur Fridriksson and Eiríkur Gudnason, and former director of the Financial Supervisory Authority (FME) Jónas Fr. Jónsson are all accused of negligence in the report.

Of the three ministers, Sigursson is the only one still working as an MP. However, he resigned as chairman of the Social Democrats’ parliamentary party yesterday. “I call for the summoning of a High Court and want to get the chance to clear my name there,” Sigurdsson said, according to Fréttabladid.

Both former PM Haarde and former FME director Jónsson have protested the SIC’s review of their work.

Jónsson is said to have demonstrated complacency in not having established a firm enough organization of the FME’s daily operations. More effort was required to make sure financial companies were following the law, the SIC concluded.

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