Following the decision of the European Central Bank (ECB) to freeze the payments made by the Latvian bank ABLV and accusations of corruption concerning the governor of the Latvian Central bank (see EUROPE 11964), a reaction from the former Latvian Prime Minister and current European Commissioner for Financial Services, Valdis Dombrovskis, was eagerly awaited.
At a press conference on Tuesday 20 February, he stressed the clear division of competences between the supervision of banks and the...