Latvia will regain its vote on the European Central Bank’s Governing Council after the central bank governor, facing accusations of accepting a bribe, has finally appointed an alternate,
The Bank of Latvia announced on September 10 that the country will regain its vote on the European Central Bank’s Governing Council. The news comes after central bank governor, who is accused of accepting a bribe, finally appointed an alternate.
Ilmars Rimsevics was barred from office since February, when police briefly detained him and authorities charged him with taking a bribe of at least €100,000, a charge he has repeatedly denied.
As reported by the Reuters news agency, since only a central bank governor can designate an alternate and Rimsevics has been barred from his duties, Latvia had lost its vote. It was an embarrassment for the ECB, which even took Latvia to the European court over its move.