Icelandic parliament banking inquiry delayed again

alþingishúsið-littlePall Hreinsson, chairman of the parliamentary investigation committee set up to investigate Iceland’s banking crisis, says he and his colleagues are very frustrated that their anticipated report has had to be delayed for a second time.

The Althingi report was set to come out on the 1st February, with expectations running high that it would be a major step towards working out what happened and, potentially, punishing those at fault. The committee now aims to finish its work before the end of February.

The report was originally supposed to be released on 1st November 2009; but was delayed until 1st February, and now once more, reports.

Hreinsson explained that the committee’s work is taking longer than expected because they have been investigating more issues than initially expected. The parliamentary investigators have formally interviewed 150 people and held talks with nearly 300 people overall.

Committee member Tryggvi Gunnarsson told Visir that there is much more to the story than the leaders of Glitnir simply walking into the Central Bank of Iceland one day and declaring their bank was in trouble. The Committee needs to tease out all the details behind the story for parliament and the public, he said. Committee members believe no bigger investigation into a banking crisis has ever been carried out.

Gunnarsson added that the companies whose names appear most often in the story so far are mostly all already gone, or on their way out – bankrupt, in other words.

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