EU judges to rule on ECB empty chair

ECB - Luminale 2016 Euro Tower , MB
ECB - Luminale 2016 Euro Tower , MB

EU judges are to rule on Latvia’s handling of a bribery fiasco in a test case for eurozone banking supervision. The European Central Bank (ECB) filed the case at the EU court in Luxembourg on Friday (6 April) after Latvia banned its own central bank chief, Ilmars Rimsevics, from office on bribery allegations last month.

The move is to see the ECB’s 25-member governing council meet with an empty chair in Frankfurt in April, but the EU central bank is seeking an injunction to overrule the ban in order to “preserve the normal functioning of its decision-making”.

The ECB also asked the EU judges to rule “whether Latvian authorities breached European Union law” in prohibiting Rimsevics from “holding office at the Latvian central bank and exercising his functions as a member of the ECB’s governing council” …

Read more : EUObserver, 09.04.2018