2009 Icelandic financial crisis protests
The 2009–2011 Icelandic financial crisis protests, also referred to as the Kitchenware, Kitchen Implement or Pots and Pans Revolution[1][2] (Icelandic: Búsáhaldabyltingin), occurred in the wake of the Icelandic financial crisis. There had been regular and growing protests since October 2008 against the Icelandic government's handling of the financial crisis. The protests intensified on 20 January 2009 with thousands of people protesting at the parliament (Althing) in Reykjavík.[3][4][5] These were at the time the largest protests in Icelandic history.[6]
Protesters were calling for the resignation of government officials and for new elections to be held.[7] The protests stopped for the most part with the resignation of the old government led by the right-wing Independence Party.[8] A new left-wing government was formed after elections in late April 2009. It was supportive of the protestors and initiated a reform process that included the judicial prosecution before the Landsdómur of former Prime Minister Geir Haarde.
Several referendums were held to ask the citizens about whether to pay the Icesave debt of their banks. From a complex and unique process, 25 common people, of no political party, were to be elected to form an Icelandic Constitutional Assembly that would write a new Constitution of Iceland. After some legal problems, a Constitutional Council, which included those people, presented a Constitution Draft to the Iceland Parliament on 29 July 2011.[9]
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31 January 2009
Banking debt referendums[edit]
There were several referendums to decide about the Icesave Icelandic bank debts. The first Icesave referendum (Icelandic: Þjóðaratkvæðagreiðsla um Icesave), was held on 6 March 2010.[40] The referendum was resoundingly defeated, with 93% voting against and less than 2% in favor.
After the referendum, new negotiations commenced. On 16 February 2011 the Icelandic parliament agreed to a repayment deal to pay back the full amount starting in 2016, finalising before 2046, with a fixed interest rate of 3%.[41] The Icelandic president once again refused to sign the new deal on 20 February, calling for a new referendum.[42][43] Thus, a second referendum was held on 9 April 2011 also resulting in "no" victory with a lesser percentage.[44] After the referendum failed to pass, the British and Dutch governments said that they would take the case to the European courts.[45]
PM trial[edit]
The Althing (Iceland's parliament) voted 33–30 to indict the former Prime Minister Geir Haarde, but not the other ministers, on charges of negligence in office at a session on 28 September 2010.[46] He would stand trial before the Landsdómur, a special court to hear cases alleging misconduct in government office: it will be the first time the Landsdómur has convened since it was established in the 1905 Constitution.[47]
The trial began in Reykjavík on 5 March 2012.[48] Geir Haarde was found guilty on one of four charges on 23 April 2012, for not holding cabinet meetings on important state matters.[49] Landsdómur said Haarde would face no punishment, as this was a minor offence and the Icelandic State was ordered to pay all his legal expenses.[50] Haarde decided, as a matter of principle, to refer the whole case to the European Court of Human Rights in Strasbourg where it was eventually dismissed.[51]