Geir Haarde questioning finished, more witnesses called today

Questioning of former Icelandic Prime Minister Geir H. Haarde in the court case against him has come to an end. The court reconvened at 10.00 this morning, and testimony will be taken from several other key persons today. reports that this morning former minister of trade, Björgvin G. Sigurðsson, will take to the witness box. He will be followed by Arnór Sighvatsson, who was a member of the financial stability joint committee before the crash.

This afternoon testimony will be taken from Davíð Oddsson, the former Central Bank of Iceland governor. Before working at the central bank, Davíð was Prime Minister and leader or the Independence Party – followed in the roles by Geir Haarde.

Andri Árnason, Geir’s defence solicitor, says that it is quite likely that the case will become disorganised with the long string of witnesses being called; but that the main part of the case will still probably still conclude within two weeks as planned.

Geir was questioned before the Landsdómur court for around eight hours yesterday.

RÚV reports that Geir is being tried on four counts. Firstly for not ensuring that the recommendations and emphases of the financial stability governmental joint committee were systematically implemented and achieved results. Secondly for not having taken the initiative to make the State push for the banking system to reduce in size. Thirdly for not having seen to it that Icesave accounts in the UK were moved over into a British-based subsidiary of Landsbanki. And fourthly for not having held ministerial meetings on important administrative matters, as laid down in the constitution.

The main thread running through Geir’s eight hours on the stand was that he generally did all he could from his positiong within government; but that he could not overstep his boundaries into the jurisdictions of the FME, the Central Bank and the private banks themselves.