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Latvia: EU Court, central governor's suspension is illicit
'They did not provide evidence for the serious shortcomings'
26 February, 12:53
(ANSA) - BRUSSELS, FEB 26 - The EU Court has annulled the
decision of the Latvian authorities to suspend the governor of
the Central Bank of Latvia because the authorities ''have not
provided evidence for the serious shortcomings the governor of
the central bank is considered responsible for''. That is what
the Court wrote in the verdict published today, which
incorporates the conclusions of the Advocate General dating back
to December 19.
Ilmars Rimsevics, governor of Latvijas Banka, was suspended from his duties by the National Office for the Fight against Corruption and Prevention of Corruption, being suspected of illicit influences in favor of a Latvian bank.
This is the first such case to be dealt with by the Luxembourg court, on the basis of the statute of the eurozone central banking system established in 2016: the national governors are in fact members of the ECB board, which is a European institution. Hence the EU Court has jurisdiction over the case.
(ANSA).
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Ilmars Rimsevics, governor of Latvijas Banka, was suspended from his duties by the National Office for the Fight against Corruption and Prevention of Corruption, being suspected of illicit influences in favor of a Latvian bank.
This is the first such case to be dealt with by the Luxembourg court, on the basis of the statute of the eurozone central banking system established in 2016: the national governors are in fact members of the ECB board, which is a European institution. Hence the EU Court has jurisdiction over the case.
(ANSA).
