Iceland’s much anticipated “Truth Report” into the causes of the 2008 financial crisis has highlighted not only the “extreme negligence” of senior political and financial figures, but also the lack of openness and transparency about just what the country’s banking sector was getting up to. A new parliamentary initiative seeks to ensure that Icelanders will never be kept ignorant again.

When the Icelandic economy imploded in 2008, the citizens of the vast island with a tiny population were stunned. Most Icelanders had no idea their nation was so financially exposed. Government documents leaked to the public since then show that many in power knew exactly what was going on. Yesterday’s report into the financial crisis has also confirmed that the then head of Iceland’s central bank, along with the then prime minister, withheld information about the true state of the country’s economy.

Paradise for journalists
In the aftermath of the financial crisis, openness has become a catchword in Iceland, along with the belief that everyone has not just a right but also a duty to know what the government is getting up to in their name. One response to this is the Icelandic Modern Media Initiative (Immi), a proposal supported by all parties that aims to make Iceland a haven for investigative journalists and whistleblowers everywhere.

The official website of the Immi says “Because of an economic meltdown in the banking sector, a deep sense is among the nation that a fundamental change is needed in order to prevent such events from taking place again”. The proposal tasks the government with adopting laws that provide strong protection for sources and freedom of expression and information both at home and abroad. As some nations are known as tax havens for their secrecy, the Immi suggests Iceland could be the opposite – a journalism paradise known for its openness.
 
Freedom for growth
The proposal has a practical as well as an idealistic side, suggesting that attracting internet-based international media and publishers could become a growth industry for Iceland. Danny O'Brien of the Committee to Protect Journalists agrees:

Audio: Newsline interview with Danny O'Brien

“Well I think for many countries it’s important to try and find out the industries and services that you can provide that no other country can. Iceland’s become interested in becoming the best country possible for free speech, particularly on the internet… a place where people can freely host content without necessarily worrying about threats and challenges legally from their domestic government.”
 
There’s considerable support for the initiative from organisations such as Transparency International and Reporters Without Borders. The founder of the Wikileaks site, Julian Assange, has been advising on the proposal, and preparations for last week’s release of the Wikileaks video showing a US army helicopter attack in Iraq were made in Iceland.

Laws for the digital age
Almost all countries have regulations imposing some sort of controls or limits on the free speech and the media – libel laws for instance – but, according to O’Brien, these do not necessarily suit the internet.  Even those countries which might consider themselves bastions of free speech have introduced new laws for the digital age which can be misused.

“In the United States it’s possible to take down content without a legal process, using what’s called the Digital Millennium Copyright Act. As the name suggests, this is primarily a law designed to fight copyright infringements but it’s had the unfortunate effect of making it much easier for critics to remove content that they don’t like online.”

The European Union recently agreed to impose similar regulations as part of its copyright directive. An important part of the Immi proposal is to ensure that Icelandic law doesn’t have these kinds of restrictions, because almost everything published by whistle-blowing sites such as Wikileaks is ultimately someone’s property – and thus subject to copyright.

Openness above all
There’s considerable opposition to the Icelandic law from Western governments who see it as an irresponsible attempt to trespass on other countries’ legal territory. The Immi does promise to consider “the legal environments of other countries” when developing legislation, but ultimately the Icelandic desire for openness may override such considerations.

One of the main reasons the proposal is being considered is because leaked documents published on the internet revealed details about the financial crisis hidden by both the Icelandic and other governments. So it may well be, says O’Brien that “The citizens of Iceland are far more sympathetic to free speech advocates than they are to the governments of other countries.”