Category Archives: Ισλανδία

To παράδειγμα της Ισλανδίας που φυλάκισε τους τοκογλύφους τραπεζίτες άφησε τις τράπεζες να καταρρεύσουν και τώρα είναι η πρώτη χώρα που ανακάμπτει αληθινά! Για τους αχάπαρους νεοφιλελέρες μετανεωτερικούς ηλίθιους χίπστερ…

Ανέκαθεν της απανρχής της κρίσης είχα πάντα ως παράδειγμα προς μίμιση αυτό που έκανε η Ισλανδία, η οποία αντί να σώσει τις τράπεζες και τους τραπεζίτες της, τις άφησε να καταρρεύσουν και φυλάκισε τους διευθυντάες τους! Δεν θυσίασε το κράτος πρόνοιας της για χάριν των τοκογλύφων αλλά υποτίμησε το νόμισμα της κάτι που δυνάμωσε τις εξαγωγές της και κατάφερε πλέον να είναι η πρώτη χώρα που ανακάμπτει!

Το 2012 μάλιστα κέρδισε την αγωγή που της είχαν κάνει η Αγγλία και η Ολλανδία στο δικαστήριο της ΕΖΕΣπου είναι το αντίστοιχο του Δικαστηρίου της ΕΕ για τα κράτη που δεν είναι μέλη της ΕΕ αλλά συνδεδεμένα με αυτήν και πρέπει να εφαρμόζουν το κοινοτικό δίκαιο!

Το Δικαστήριο της ΕΖΕΣ δικαίωσε την Ισλανδία και αποφάνθηκε ότι τα κράτη δεν έχουν καμιά υποχρέωση να σώσουν τις τράπεζες και άρα τους άγγλους και ολλανδούς καταθέτες τους.

Βγαίνουν τότε οι λογής λογής σπουδαγμένοι κουλ κυπρέοι οι οποίοι ρίχνουν ατάκες ότι το να επικαλείσαι την Ισλανδία είνα τάχα κλισέ και ότι δεν είμαστε Ισλανδία και ότι έτσι τζαι γιουβέτσι

Είναι οι γνωστοί κομπλεξικοί ξερόλες συνήθως νεοφιλελέ και συνήθως χίπστερ της μετανεωτερικότητας και του μεταμοντερνισμού με σαπισμένα μυαλά εκτός τόπου και χρόνου

Οι τύποι αυτοί είναι παντού και δυστυχώς έχουν επιρροή στους ζοππόβορτους οι οποίοι αγνοούν τα πάντα και εντυπωσιάζονται από τέτοιους τύπους που χρησιμοποιούν συνήθως την αγγλική και μιλάνε εντυπωσιακές μαλακίες χωρίς να λένε τίποτα

Το παράδειγμα της Ισλανδίας είναι απλό: δείχνει ότι αυτό μπορεί να γίνει και είναι εφικτός ένας άλλος δρόμος

Το γνωστό επιχείρημα είναι ότι η Ισλανδία έιναι στην μέση του πουθενά ενώ εμείς εδώ που είμαστε και μπλα μπλά όπως επίσης εμείς είμαστε εξαρτώμενοι κλπ

Ρε αχάπαροι, παρακολουθήστε λίον τι επίθεση τους έκαναν οι αγγλοι και οι ολλανδοί με ξεκάθαρες απειλές ότι θα τους κάνουν κούβα του βορρά θα τους απομονώσουν και λοιπα

Ποια είναι η διαφορά; ¨Οτι εκεί έχουν λαό με ψυχή και εξανάγκασε αυτούς που ελέγχουν το κράτος να κάτσουν μέσα τους τραπεζίτες

Αυτή είναι η διαφορά ρε αχάπαροι

Εσείς απλά περιμένετε να γίνουν μαγικά πράγματα και να σας σώσει ο………αναστασιάδης ο χαρούλης η ζέτα και τα λοιπά τσιουράκια των τραπεζτιών και των σιακόληων!!!!

Αυτοί είστε!

Η Ισλανδία δείχνει τον δρόμο ρε αχάπαροι ό,τι και να λέτε φτιάχοντας σύνταγμα από το ίντερνετ και τώρα βάζοντας φραγμό στους τραπεζίτες/τοκογλύφους να δημιουργούν χρήμα από το πουθενά!

http://www.independent.co.uk/news/business/news/three-charts-that-show-icelands-economy-recovered-after-it-imprisoned-bankers-and-let-banks-go-bust–instead-of-bailing-them-out-10309503.html

Three charts that show Iceland’s economy recovered after it imprisoned bankers and let banks go bust – instead of bailing them out

Three charts that show Iceland’s economy recovered after it imprisoned bankers and let banks go bust – instead of bailing them out

«It is dangerous that someone is too big to investigate – it gives a sense there is a safe haven.»

Iceland’s finance minister has announced a 39 per cent tax on investors looking to take their money overseas.

The country has imposed the tax to prevent it hemorrhaging money as it loosens bank laws imposed six years ago, when Iceland made the shocking decision to let its banks go bust.

Iceland also allowed bankers to be prosecuted as criminals – in contrast to the US and Europe, where banks were fined, but chief executives escaped punishment.

The chief executive, chairman, Luxembourg ceo and second largest shareholder of Kaupthing, an Icelandic bank that collapsed, were sentenced in February to between four and five years in prison for market manipulation.

«Why should we have a part of our society that is not being policed or without responsibility?» said special prosecutor Olafur Hauksson at the time. «It is dangerous that someone is too big to investigate – it gives a sense there is a safe haven.»

READ MORE:ICELAND: THE ECONOMY THAT CAME IN FROM THE COLD?

Bailing on bail out

While the UK government nationalised Lloyds and RBS with tax-payers’ money and the US government bought stakes in its key banks, Iceland adopted a different approach. It said it would shore up domestic bank accounts. Everyone else was left to fight over the remaining cash.

It also imposed capital controls restricting what ordinary people could do with their money– a measure some saw as a violation of free market economics.

The plan worked. Iceland took a huge financial hit, just like every other country caught in the crisis.

http://cf.datawrapper.de/SmZKt/1/This year the International Monetary Fund declared that Iceland had achieved economic recovery ‘without compromising its welfare model’ of universal healthcare and education.

Other measures of progress like the country’s unemployment rate, compare just as well with countries like the US.

Iceland’s unemployment rate compares well

Source: IMFSource: IMF

Rather than maintaining the value of the krona artificially, Iceland chose to accept inflation.

This pushed prices higher at home but helped exports abroad – in contrast to many countries in the EU, which are now fighting deflation, or prices that keep decreasing year on year.

http://cf.datawrapper.de/dn2fj/1/

This year, Iceland will become the first European country that hit crisis in 2008 to beat its pre-crisis peak of economic output.

With the reduction of capital controls – tempered by the 39 per cent tax – it continues to make progress.

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Filed under "δικαιοσύνη", "θεσμοί", "οικοδομική φούσκα", "οικονομική κρίση", "παιδεία" ξεφτίλας, Banksters, IMF, τοκογλύφοι, Ισλανδία

Τώρα που έπεσαν τελείως οι μάσκες εν καλά να θυμόμαστε ποιος έλεγε τι …Video από εκπομπή 5/10/2012 παρέμβαση φιλελεύθερου χαραυγής κατά «κακών» απόψεων

 

Άμεση και κοινή παρέμβαση του Αρχισυντάκτη της «δεξιάς» και μεγαλύτερης κυπριακής εφημερίδας «Φιλελεύθερος» Άριστου Μιχαηλίδη χέρι χέρι μαζί με τον δημοσιογράφο της «αριστερής» Aκελικής «Χαραυγής» Κώστα Ζαχαρίου σε εκπομπή στο ΡΙΚ όπου λέγονταν «κακές» απόψεις.

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Filed under "δικαιοσύνη", "θεσμοί", "οικονομική κρίση", προπαγάνδα παπαγαλάκια, παράσιτα πλούσιοι, τρόικα, τράπεζες δημιουργοί χρήματος από το πουθενά, Άριστος Μιχαηλίδης, Άνθρωπος κοινωνικά καθορισμένος, Αναστασιάδης Μαλάς Λιλήκας, ΔΝΤ, Η συνειδητοποίηση της άγνοιας μας εφόδιο για να μάθουμε, Ισλανδία, Κώστας Ζαχαρίου - Χαραυγή, ΜΜΕξαπάτησης, Μαρφιν Λαική, Φιλελεύθερος Χαραυγή χέρι χέρι, Χαραυγή, ακελδησυένωση, βίντεο, κρίση χρέους, μνημόνιο

VIDEO- Άμεση και κοινή παρέμβαση του Αρχισυντάκτη της «δεξιάς» και μεγαλύτερης κυπριακής εφημερίδας «Φιλελεύθερος» Άριστου Μιχαηλίδη χέρι χέρι μαζί με τον δημοσιογράφο της «αριστερής» Aκελικής «Χαραυγής» Κώστα Ζαχαρίου σε εκπομπή στο ΡΙΚ όπου λέγονταν «κακές» απόψεις. Δεν αφήνουν καμιά απολύτως φωνή να μιλήσει …Μετά από λίγες μέρες κόπηκαν οι «κακές» φωνές και δεν ξαναβγήκαν σε καμιά εκπομπή…. Η μονομέρεια της προπαγάνδας των μμεξαπάτησης στην Κύπρο είναι τρομακτική

εκπομπή ημερομηνίας 5/10/2012

 

 

όλη η εκπομπή εδώ

http://www.cybc.com.cy/video-on-demand/index.php?option=com_videoflow&task=play&id=5106&layout=grid&tab=one

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Filed under "δικαιοσύνη", "θεσμοί", "οικονομική κρίση", IMF, προπαγάνδα παπαγαλάκια, παράσιτα πλούσιοι, τρόικα, τράπεζες δημιουργοί χρήματος από το πουθενά, Άριστος Μιχαηλίδης, Άνθρωπος κοινωνικά καθορισμένος, ΔΗΜΟΨΗΦΙΣΜΑ ΓΙΑ ΤΟ ΜΝΗΜΟΝΙΟ, ΔΝΤ, Δημοψήφισμα, Ελευθερία του λόγου, Ισλανδία, Κώστας Ζαχαρίου - Χαραυγή, ΜΜΕξαπάτησης, Μαρφιν Λαική, Ο κυριάρχος μαλάκας ανά πενταετία, Παγκόσμιο Σύστημα-Αλήθειες κρυμμένες, Φιλελεύθερος, Φιλελεύθερος Χαραυγή χέρι χέρι, Χαραυγή, ακελδησυένωση, βίντεο, κρίση, κρίση χρέους, μνημόνιο

New York Times:Iceland, Fervent Prosecutor of Bankers, Sees Meager Returns….. Οι ισλανδοί διώκουν ποινικά τους Banksters.. Κανονικά οι Ορφανίδηες Σαρρήες Σιαρλήες Κεραυνοί Σταυράκηδες μπάνκστερ θα έπρεπε να διωχθούν

έγραφα τον μάρτη του 2012 πριν καν το 1,8 ΔΙΣ που πήραν από τις τσέπες μαςγια να το δώκουν στην τοκογλυφική λαική

https://osr55.wordpress.com/2012/03/14

Σύλληψη του Μιχάλη Σαρρή, Μάκη Κεραυνού, Θόδωρου Αριστοδήμου, Τάκη Κληρίδη, Θανάση Ορφανίδη

Δισεκατομύρια οι ζημιές των τοκογλύφων και επιμένουν τα τσιράκια τους ακελδησυένωση βολευτές Παπαγεωργίου και Μαυρίδης να λένε ότι θα πρέπει το κράτος να βοηθήσει τους τοκογλύφους………..

Κρατικοποίηση των ζημιών

αλλά τα κέρδη όλα δικά τους

Αν ισχύουν και ισχύσουν τα όσα λένε οι τοκογλύφοι και οι παρατρεχάμενοι τους βολευτές ακελδησυδηκοεδεκένωση

ότι αν καταρρεύσουν οι τοκογλύφοι θα καταρρεύσει η οικονομία της Κύπρου τότε θα πρέπει άμεσα να συλληφθούν αυτοί που θα έχουν προκαλέσει την οικονομική καταστροφή δηλαδή ο Μιχαλάκης Σαρρής (πρώην υπουργός οικονομικών) ως πρόεδρος της Λαικής που έχει ζημιές 3,3 Δις ο Θόδωρος Αριστοδήμου πρόεδρος της Τράπεζας Κύπρου που έχει 1,1 δις ζημιές Μάκης Κεραυνός (πρώην υπουργός οικονομικών) Τάκης Κληρίδης (πρώην υπουργός οικονομικών) πρόεδρος ελληνικής τράπεζας με ζημιές 100 εκατομυρίων και ο Θανάσης Ορφανίδης ως Διοικητης της Κεντρικής Τράπεζας  αφού με δικές τους ενέργειες και παραλείψεις για ίδιον όφελος θα τα έχουν προκαλέσει

ΝΑ ΜΗΝ ΔΟΘΕΙ ΤΙΠΟΤΑ ΣΤΙΣ ΤΡΑΠΕΖΕΣ/ΤΟΚΟΓΛΥΦΟΥΣ

απτειτ από απάντηση στον στροβολιώτη

Ας δούμε κάποια ομορφούλικα στοιχεία από την wikipedia όπου όμως υπάρχουν με λινκς όλες οι απαραίτητες πηγές για τους κακόπιστους είτε είναι από επίσημα στοιχεία του κράτους είτε από εφημερίδες ή ειδησογραφικά πρακτορεία πχ Bloomberg

http://en.wikipedia.org/wiki/2008%E2%80%932011_Icelandic_financial_crisis#cite_note-56

At the end of the second quarter 2008, Iceland’s external debt was 9.553 trillion Icelandic krónur (€50 billion), more than 80% of which was held by the banking sector.[4] This value compares with Iceland’s 2007 gross domestic product of 1.293 trillion krónur (€8.5 billion).[5] The assets of the three banks taken under the control of the FME totaled 14.437 trillion krónur at the end of the second quarter 2008.[6]

δηλαδή το δημόσιο χρέος της Ισλανδίας ήταν 50 ΔΙΣ ευρωουλάκια και το 80% το κατείχαν οι τοκογλύφοι

That afternoon, there was a telephone conversation between Icelandic Finance Minister Árni Mathiesen and UK Chancellor of the Exchequer Alistair Darling.[52] That evening, one of the governors of theCentral Bank of IcelandDavíð Oddsson, was interviewed on Icelandic public service broadcaster RÚV and stated that “we [the Icelandic State] do not intend to pay the debts of the banks that have been a little heedless”. He compared the government’s measures to the U.S. intervention at Washington Mutual, and suggested that foreign creditors would “unfortunately only get 5–10–15% of their claims”.

δηλαδή θα πάρουν αγγούρι οι τοκογλύφοι από τα 50 δις

και αφηνίασαν τα τσιράκια των τοκογλύφων δηλαδή η κυβέρνηση του γιουκει της αγγλία και απειλούσαν θεούς και δαίμονες με αντιτρομοκρατικούς νόμους και μαλακίες

The UK Prime Minister, Gordon Brown, announced that the UK government would launch legal action against Iceland over concerns with compensation for the estimated 300,000 UK savers.[57] Geir Haarde said at a press conference on the following day that the Icelandic government was outraged that the UK government applied provisions of anti-terrorism legislation to it in a move they dubbed an “unfriendly act”.[58] The Chancellor of the Exchequer also said that the UK government would foot the entire bill to compensate UK retail depositors,[53] estimated at £4 billion.[59][60] It is reported that more than £4 billion in Icelandic assets in the UK have been frozen by the UK government.[61] The UK Financial Services Authority (FSA) also declared Kaupthing Singer & Friedlander, the UK subsidiary of Kaupthing Bank, in default on its obligations,[53] sold Kaupthing Edge, its Internet bank, to ING Direct,[62] and put Kaupthing Singer & Friedlander into administration.[53] Over £2.5 billion of deposits for 160,000 customers were sold to ING Direct.[63] The scale of the run on Kaupthing Edge deposits had been such that many transactions were not completed until 17 October.[64] Although Geir Haarde has described the UK government’s actions over Kaupthing Singer & Friedlander as an “abuse of power”[65] and “unprecedented”,[66] they were the third such actions taken under the Banking (Special Provisions) Act 2008 in less than ten days, after interventions in Bradford & Bingley and Heritable Bank.

εν τέλει οι τοκογλύφοι πήραν αγγούρι και το imf το ΔΝΤ δηλαδή βλέποντας ότι θα πάρει από τα τρία το μιαλύτερο είπε να συζητήσει με τους όρος της Ισλανδίας σε λογικά πλαίσια

και απλά τους έκαναν ένα δάνειο 2 δις

που εν τα 50 ΔΙΣ τζαι που τα 2 ΔΙΣ ρε φιλούδιν;

Το μπόττομ λαιν που λαλούν τζαι στα εγγλέζικα χωρκά είναι ότι οι ισλανδοί εκαβλιάσαν τους τοκογλύφους τζαι τους ει΄παν να πάτε να γαμηθείτε εν σας πληρώνω τα σπασμένα τα δικά σας
πιάστε τον Π&&*&*()())τσο μου τζαι κλάστε μου τα @@

δηλαδή αυτό που έπρεπε να κάνει το ελληνικό κράτος το ιρλανδικό κράτος κλπ

http://www.new-deal.gr/eponymos/%CE%BF%CE%B9%CE%BA%CE%BF%CE%BD%CE%BF%CE%BC%CE%B5%CF%84%CF%81%CF%89%CE%BD%CF%84%CE%B1%CF%82/5543-%CE%A5%CE%A0%CE%91%CE%A1%CE%A7%CE%95%CE%99-%CE%96%CE%A9%CE%97-%CE%9A%CE%91%CE%99-%CE%A7%CE%A9%CE%A1%CE%99%CE%A3-%CE%A4%CE%9F-%CE%94%CE%9D%CE%A4-%CE%99%CE%A3%CE%9B%CE%91%CE%9D%CE%94%CE%99%CE%91-%CE%9C%CE%99%CE%91-%CE%A0%CE%A1%CE%91%CE%93%CE%9C%CE%91%CE%A4%CE%99%CE%9A%CE%9F%CE%A4%CE%97%CE%A4%CE%91-%CE%A0%CE%9F%CE%A5-%CE%94%CE%95%CE%9D-%CE%A4%CE%A1%CE%9F%CE%9C%CE%91%CE%96%CE%95%CE%99

=========

Οι Ισλανδοί συνεχίζουν να κάνουν ό,τι δεν κάνει ο υπόλοιπος «πολιτισμένος» κόσμος

Διώκουν ποινικά τους Banksters

>Iceland, Fervent Prosecutor of Bankers, Sees Meager Returns

Ilvy Njiokiktjien for The New York Times

«Greed is not a crime. But the question is: where does greed lead?» said Olafur Hauksson, a special prosecutor in Reykjavik.

<nyt_byline>

By 
Published: February 2, 2013
<nyt_text><nyt_correction_top>

REYKJAVIK, Iceland — As chief of police in a tiny fishing town for 11 years, Olafur Hauksson developed what he thought was a basic understanding of the criminal mind. The typical lawbreaker, he said, recalling his many encounters with small-time criminals, “clearly knows that he crossed the line” and generally sees “the difference between right and wrong.”

Today, the burly, 48-year-old former policeman is struggling with a very different sort of suspect. Reassigned to Reykjavik, the Icelandic capital, to lead what has become one of the world’s most sweeping investigation into the bankers whose actions contributed to the global financial crisis in 2008, Mr. Hauksson now faces suspects who “are not aware of when they crossed the line” and “defend their actions every step of the way.”

With the global economy still struggling to recover from the financial maelstrom five years ago, governments around the world have been criticized for largely failing to punish the bankers who were responsible for the calamity. But even here in Iceland, a country of just 320,000 that has gone after financiers with far more vigor than the United States and other countries hit by the crisis, obtaining criminal convictions has proved devilishly difficult.

Public hostility toward bankers is so strong in Iceland that “it is easier to say you are dealing drugs than to say you’re a banker,” said Thorvaldur Sigurjonsson, the former head of trading for Kaupthing, a once high-flying bank that crumbled. He has been called in for questioning by Mr. Hauksson’s office but has not been charged with any wrongdoing.

Yet, in the four years since the Icelandic Parliament passed a law ordering the appointment of an unnamed special prosecutor to investigate those blamed for the country’s spectacular meltdown in 2008, only a handful of bankers have been convicted.

Ministers in a left-leaning coalition government elected after the crash agree that the wheels of justice have ground slowly, but they call for patience, explaining that the process must follow the law, not vengeful passions.

“We are not going after people just to satisfy public anger,” said Steingrimur J. Sigfusson, Iceland’s minister of industry, a former finance minister and leader of the Left-Green Movement that is part of the governing coalition.

Hordur Torfa, a popular singer-songwriter who helped organize protests that forced the previous conservative government to resign, acknowledged that “people are getting impatient” but said they needed to accept that “this is not the French Revolution. I don’t believe in taking bankers out and hanging them or shooting them.”

Others are less patient. “The whole process is far too slow,” said Thorarinn Einarsson, a left-wing activist. “It only shows that ‘banksters’ can get away with doing whatever they want.”

Mr. Hauksson, the special prosecutor, said he was frustrated by the slow pace but thought it vital that his office scrupulously follow legal procedure. “Revenge is not something we want as our main driver in this process. Our work must be proper today and be seen as proper in the future,” he said.

Part of the difficulty in prosecuting bankers, he said, is that the law is often unclear on what constitutes a criminal offense in high finance. “Greed is not a crime,” he noted. “But the question is: where does greed lead?”

Mr. Hauksson said it was often easy to show that bankers violated their own internal rules for lending and other activities, but “as in all cases involving theft or fraud, the most difficult thing is proving intent.”

And there are the bankers themselves. Those who have been brought in for questioning often bristle at being asked to account for their actions. “They are not used to being questioned. These people are not used to finding themselves in this situation,” Mr. Hauksson said. They also hire expensive lawyers.

The special prosecutor’s office initially had only five staff members but now has more than 100 investigators, lawyers and financial experts, and it has relocated to a big new office. It has opened about 100 cases, with more than 120 people now under investigation for possible crimes relating to an Icelandic financial sector that grew so big it dwarfed the rest of the economy.

To help ease Mr. Hauksson’s task, legislators amended the law to allow investigators easy access to confidential bank information, something that previously required a court order.

Parliament also voted to put the country’s prime minister at the time of the banking debacle on trial for negligence before a special tribunal. (A proposal to try his cabinet failed.) Mr. Hauksson was not involved in the case against the former leader, Geir H. Haarde, who last year was found guilty of failing to keep ministers properly informed about the 2008 crisis but was acquitted on more serious charges that could have resulted in a prison sentence.

<nyt_text>

Meanwhile, an investigative commission appointed by Parliament first reported to it in April 2010 and later published a nine-volume account of the financial crash, including a study of what philosophers charged with investigating ethical issues behind the crisis called a “moral void” at the heart of Icelandic finance.

Ilvy Njiokiktjien for The New York Times

A woman initiates a transaction with Arion bank, formerly Kaupthing, a once high-flying bank that crumbled. Iceland has gone after financiers with far more vigor than the United States and others.

Vilhjalmur Arnason, a philosophy professor at Iceland University who worked on the study, described the exercise as “very important for reasons of justice and for reconciliation” in a society traumatized by a crash so severe that it threatened to capsize the country. But, he added, bankers alone were not responsible, as “the whole society was so intoxicated” by values that put profit ahead of morality, the law and even common sense.

After the crash, the new government pushed to restructure the failed banks, purging their former management and owners and prodding them to write off a big chunk of their loans to homeowners burdened with big mortgages. The government declined to bail out foreign bondholders, who lost about $85 billion. Iceland now has a growing economy.

But it is not entirely clear that Iceland deserves its reputation as a warrior against Wall Street orthodoxy. In time, Iceland won praise from the International Monetary Fund for sharp cuts in spending and tax increases that slashed the government’s deficit and helped put the country back on an even keel.

Certainly Iceland, in contrast to the United States and most other countries, has pursued not only little-known financiers but also many of the country’s biggest names in banking and business. “We have been aiming at the upper levels rather than the lower levels,” Mr. Hauksson said.

His biggest scalp so far is that of Larus Welding, the former chief executive of Glitnir, one of the trio of banks that failed in 2008. Mr. Welding and a second former Glitnir executive were found guilty of fraud over a $70 million loan to a company that owned shares in the bank.

Mr. Welding, who is now standing trial in a second case along with one of the country’s most prominent business tycoons, Jon Asgeir Johannesson, was sentenced in December to nine months in prison, six of which were suspended.

The light sentence enraged many Icelanders, but, Mr. Hauksson said, “the important thing is that we got a conviction.” By contrast in Ireland, which put taxpayers on the hook for tens of billions of dollars owed by failed banks, the former chief of the failed Anglo Irish Bank has been charged with financial irregularities but so far no senior bank executive has yet been found guilty of a crime.

Prosecuting bankers was never going to be easy, particularly in a country like Iceland, which is so small that nearly everybody in the capital has a friend or family member who worked at one time in finance. When Iceland’s Justice Ministry first advertised for applicants for the new post of special prosecutor, nobody responded.

Mr. Hauksson, an outsider with no network of friends and relatives in Reykjavik, was then urged to apply during a second attempt to fill the post and was given the job.

“I thought this was something that had to be looked into,” Mr. Hauksson said. “If we prosecute small cases we also have to look into big cases.” But, he added, this risks “opening up a Pandora’s box” that can escalate even relatively simple cases “into something very big.”

The high stakes have also left some investigators vulnerable to temptation: two former members of Mr. Hauksson’s staff were placed under criminal investigation last year for selling confidential information for 30 million Icelandic krona (around $233,000) to the administrator of a bankrupt company who was trying to locate missing assets.

That episode has not dented Iceland’s heroic image among antibanker campaigners abroad. Mr. Sigfusson, the minister of industry, said he was regularly invited to speak on how Iceland dealt with its banking crisis. Iceland, he said, has “no magic solution” but has managed to push through unpopular cuts in spending in part because it managed to curb public anger by pushing for the prosecution of its bankers.

Today, Iceland’s bankers are both mocked for their recklessness during the boom years and reviled for pushing the country to the brink of economic ruin.

Mr. Sigurjonsson, the former Kaupthing banker, said a “big umbrella of suspicion” has opened up over anybody who worked in finance and unfairly stigmatized “highly educated and very able people who can lend a hand in resurrecting the country.”

He said he was shocked recently when he heard the young daughter of a friend, also a former banker, ask, “Daddy, why are bankers all criminals?”

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