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Eva Joly Signs Agreement with Iceland's Government to Investigate Banks' Collapse
Judge and investigator Eva Joly has signed a special agreement with Iceland’s government to assist the special prosecutor in investigating the banks’ collapse. The agreement was announced at a press conference attended by Mme Joly, Minister of Justice Ragna Árnadóttir and Ólafur Þ. Hauksson, appointed Special Prosecutor investigating the Icelandic banks’ collapse.
The Minister of Justice also gave an account of the agreement concluded by the cabinet to provide additional financing for the Special Prosecutor’s investigation. She explained that the cost of assistance from foreign experts could amount to up to ISK 70 million on an annual basis and that the Office of the Special Prosecutor would be able to hire a staff of up to 16 persons, should it prove necessary. The total cost of the Office was estimated to be ISK 250-270 million over a 12-month period.
Ólafur Þ. Hauksson stated that currently six specialists worked in the office and he expected additional experts to be hired in the coming days. The supplementary financing would mean that as many as 20 people could be working on the investigation later this year, if foreign experts are included. This was clearly a major tasks, demanding extensive and specialised work. He added that it was a major boost for the Office to enjoy the assistance of Eva Joly and experts provided by her.
Eva Joly herself expressed real pleasure at being able to offer her assistance to the investigation. Under the agreement, she herself will work on the investigation four days each month. Her contribution, and that of experts assisting on her behalf, will include, for instance, advice on handling cross-border legal queries, as well as advice on relations with foreign experts in various fields, such as auditors for analysis of accounting documents and financial statements, plus research on ownership links and in tracing the trail of capital between states and banking institutions. She was optimistic that the background and events could be effectively uncovered and brought to light, but pointed out that this could take time.
Well known for her fight against corruption in France, and elsewhere in Europe as well, Eva Joly is regarded as a leading expert in the struggle against international corruption.