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Latvia broke EU law in removing central bank chief, court rules
Latvia broke European Union law by barring its central bank governor, who is also a European Central Bank policymaker, from office, the European Court of Justice ruled on Tuesday in a widely expected decision. The Court ruled that Latvia has not produced the “slightest evidence” of corruption by Ilmars Rimsevics, who was suspended as governor early last year. That also left Latvia without a vote at ECB policy meetings and challenged a key plank of central bank independence. “It may be necessary to decide to suspend the governor concerned temporarily from office for the purposes of such an investigation,” the ... (full story)
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