Former Iceland PM avoids punishment for banks’ collapse

An Icelandic court found a former prime minister guilty of one charge related to the collapse of the country’s banks in 2008, but exonerated him on three other charges and decided not to punish him.

Former prime minister Geir Haarde, 61, was the only leader in the world to face prosecution over the global financial crisis.

A special court found Haarde guilty of failing to hold dedicated cabinet meetings ahead of the crisis, which was one of four charges against him, but exonerated him on three other charges. The special court of impeachment was set up in 1905, but the Haarde case was its first trial.