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Witness History: Iceland Jails Its Bankers

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Iceland Jails Its Bankers

11/02/2019 GMT

BBC World Service - Witness History, Iceland Jails Its Bankers

The man who jailed 40 top bankers in Iceland after the 2008 global credit crunch

Iceland's special prosecutor Olafur Hauksson recalls jailing around 40 bankers for their part in the 2008 global economic crisis.

The 2008 global economic crisis hit hard in Iceland. Its three major banks and stockmarket collapsed and it was forced to seek an emergency bail-out from the IMF. But unlike many other countries affected by the global downturn, Iceland decided to prosecute its leading bankers. Around forty top executives were jailed. Mike Lanchin has been hearing from Special Prosecutor, Olafur Hauksson, who led the investigations.

(Photo: Protesters on the streets of Reykjavik demand answers from the government and the banks about the country's financial crisis, Nov. 2008. (Halldor Kolbeins/AFP/Getty Images)

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