Court finds former PM guilty over banks

An Icelandic court has found the former prime minister Geir Haarde guilty of failing to hold a dedicated Cabinet meeting before the collapse of the country's banking system.

It found Mr Haarde guilty on one count over the collapse of Iceland's banks in 2008 but acquitted him of three other charges. "Geir Haarde will not be punished," said Markus Sigurbjornsson, the head of the special Landsdomur court for current and former ministers.

Mr Haarde, 61, was found guilty of not meeting with his Cabinet when matters turned critical, the court said. He was prime minister from mid-2006 to early 2009 when his coalition was ousted amid public uproar over the crisis.