Iceland Moves To Oust Central Bank Chief
2009年2月27日
Iceland's parliament moved to oust central-bank chief David Oddsson, who had for weeks resisted appeals by the prime minister and public to resign.
Mr. Oddsson, Iceland's prime minister from 1991 to 2004 and central-bank chief since 2005, is widely blamed for a banking-system collapse that wreaked havoc on the island's economy.
In January, the crisis claimed Iceland's entire government. By law, the central-bank chief can't be fired, and Mr. Oddsson publicly declined Prime Minister Johanna Sigurdardottir's entreaties to step down. So she crafted a bill that reorganizes the central bank -- and requires that its governor have a master's degree in economics. Mr. Oddsson, a lawyer, doesn't have that credential.
The bill, which Parliament passed Thursday, goes to President Olafur Grimsson for his signature and is expected to take effect Friday.
It isn't clear who will succeed Mr. Oddsson. Ms. Sigurdardottir has said she would like to cast an international net in searching for candidates. A spokesman for the prime minister said Thursday that an interim central banker will be in place while the government considers candidates.
Iceland grew rich on banking, thanks in part to economic reforms championed by Mr. Oddsson while he was prime minister.
The credit crunch last year brought a reversal of fortune. Foreign investors fled, pounding the country's currency, the krona. The banks -- which had expanded rapidly by lending overseas -- were left with debts in euro and sterling they couldn't pay. The government didn't have enough foreign currency to bail out the banks. Over a few days in October, all three of the country's big banks collapsed and were seized by the government.
Today, Iceland is facing a rise in unemployment and inflation and a correspondingly bleak contraction in economic output. It has accepted a $2.1 billion loan package from the International Monetary Fund.
Critics said the central bank failed in its role as lender of last resort and maintained foreign-exchange reserves too small for the country's bloated banking system. They blame Mr. Oddsson for hastening the banks' collapse with ill-conceived rescue plans.
The central bank's press officer said Mr. Oddsson wouldn't comment.
Charles Forelle |
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