Banks, Financial Services, Latvia, Legislation

Kutris told his colleagues that certainly there were "problems" during the sale process, and that he plans to tell the plenary in parliament that "it was up to the Cabinet of Ministers to themselves evaluate the errors made." He was quick to add that in this regard there was no wrongdoing on the part of the ministers that would warrant opening a criminal case.

Kutris revealed that the job of drawing up the final report is almost completed, and a vote on its approval could be held at the next meeting.

Kutris also informed his colleagues that following a petition from the Unity party, the Prosecutor's office has demanded the committee hand over a sound recording and {short-hand] minutes from one specific committee meeting where the committee members speak of turning to the authorities with a request to evaluate whether Straujuma and State Chancellery officials can be held criminally liable for moves made during the sale of Citadele.

Sale of the state-owned shares in Citadele to Ripplewood and a group of twelve international investors occurred on April 20 this year. The investors paid EUR 74.7 million for the shares.

As of April 20, Ripplewood owns 22.4% of Citadele shares but the group of investors – 52.6% of shares.