Banks, EU – Baltic States, Latvia, Legislation

International Internet Magazine. Baltic States news & analytics Thursday, 17.10.2019, 03:45

ECB to ask European Court of Justice to clarify situation with restrictions imposed on Rimsevics

BC, Riga , 08.03.2018.Print version
The European Central Bank (ECB) will ask the European Court of Justice (ECJ) to clarify whether the security measures imposed on Bank of Latvia Governor Ilmars Rimsevics have the effect of removing him from office, ECB President Mario Draghi said after a meeting of the ECB’s governing council today, reports LETA/BNS.

Speaking at a news conference in Frankfurt, Draghi said that said the Governing Council had unanimously decided to ask the European Court of Justice "for clarification ... whether individual security measures imposed on the governor of Latvia's bank by the Latvian anti-corruption authorities ... have had the effect of relieving him from office and if these measures comply with (EU) law."


As reported, Bank of Latvia Governor Ilmars Rimsevics, who is suspected of extorting and accepting a bribe, has decided not to step down and insists that he is innocent. The Corruption Prevention Bureau (KNAB) has banned Rimsevics from leaving Latvia and heading the central bank.






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