ECB asks EU top court to rule on Latvia’s measures against its central bank governor

ECB asks EU top court to rule on Latvia’s measures against its central bank governor
By bne IntelliNews April 9, 2018

The European Central Bank (ECB) has asked the European Union's top court to rule on whether measures imposed by Latvia on its embattled central bank governor, Ilmars Rimsevics, are in line with EU law, the ECB said on April 6.

Rimsevics is subject to an investigation by the Latvian anti-graft police KNAB that concerns “requesting and acceptance of a bribe” of at least €100,000 from a businessman. The allegations have led Latvia to suspend Rimsevics from working at the Bank of Latvia premises and as a member of the ECB’s governing council.

The ECB has also asked for interim measures to be put in place so that Rimsevics can participate in decision-making pending the final ruling by the Court of Justice of the European Union (CJEU).

Rimsevics denies any wrongdoing and has refused top Latvian politicians’ calls to step down in order to not compromise Latvia’s efforts to crack down on corruption and money laundering in its banking system.

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