Parliament to Probe Privatization of Iceland Banks Skip to content

Parliament to Probe Privatization of Iceland Banks

By Iceland Review

The Icelandic parliament, Alþingi, agreed yesterday with 24 votes a resolution to appoint a three-person investigative commission to probe the privatization and sale of shares in Fjárfestingabanki atvinnulífsins, Landsbanki Íslands and Búnaðarbanki Íslands 1998-2003.

althingi-voting-280910_pkAlþingi. Photo by Páll Kjartansson.

According to the resolution, the investigative commission is to submit a report to the Speaker of Parliament no later than September 1, 2013, Morgunblaðið reports.

MP for the Social Democrats Skúli Helgason was the first proposer of the resolution but it was also backed by MPs of the Left-Greens and The Movement. MPs of the Independence Party and Progressive Party who were present, abstained in the voting.

Progressive Party MP Vigdís Hauksdóttir proposed amendments to the resolution, that what she called “the latter stage of privatization” also be investigated, what the value of the banks’ assets was when they were moved from the defunct banks, Landsbanki, Glitnir and Kaupþing, to the new banks in 2008.

Her proposal was rejected with 21 votes against 14.


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