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How 15 minutes has already written, the candidate for the post of Governor of the Bank of Lithuania must be presented to the Seimas by President Gitanas Nausėda, but less than a month before the end of the mandate of V. Vasiliauskas, there is no official or unofficial knowledge of who will replace it.
Office of the President of the Republic of Lithuania / Photo by R.Dačkus / Gitanas Nausėda
Presidency 15 minutes He affirmed that the candidate will be nominated in the second half of March, but members of the Seimas and experts point out that there is a lack of time for discussions and the inauguration. Read more about it HERE.
Lithuania would temporarily not have a representative on the ECB
The Seimas Budget and Finance Committee (BFK) asked the Bank of Lithuania to clarify who would represent Lithuania on the Governing Council of the ECB if the new governor of the Bank of Lithuania is not approved at the end of the term of V. Vasiliauskas. .
The Governing Council of the ECB will meet in the second half of April.
Valdo Kopūstas / 15min photo / Mykolas Majauskas
“As far as we know, after the end of Vito Vasiliauskas’s term, no other member of the Bank’s Council could replace him on the Governing Council of the ECB and this would threaten Lithuania with a reputational scandal. Basically, we have to do everything possible to We must allow sufficient time for the debate on the new candidate and, pending the debate, on who will represent Lithuania on the ECB. 15 minutes approved by Seimas BFK Spokesperson Mykolas Majauskas.
Although the Chairman of the Council of the Central Bank of Lithuania may be replaced by other members of the Council, according to preliminary data, an ordinary member of the Council could not represent Lithuania on the Governing Council of the ECB.
M. Majauskas stated that in such a case it may be necessary to request the President to extend the mandate of V. Vasiliauskas.
The political scientist Virgis Valentinavičius 15 minutes He has also previously stated that the timely appointment of the Governor of the Bank of Lithuania is important for his smooth representation of Lithuania on the ECB.
Photo by Valdas Kopūstas / 15min / Virgis Valentinavičius
“It would not be good if the representation of the ECB were interrupted. The ECB is the only place where Lithuania can have a voice in banking policy, which determines the welfare of the euro, that is important,” said the political scientist.
Confirmed in 17 calendar days
According to M. Majauskas, in earlier times (both in 2011 and 2016) 17 calendar days elapsed between the presidential decree and the decision to appoint the new director of the Bank of Lithuania. This took time for formal procedures.
It is said that in 2011 the candidacy of V. Vasiliauskas was informally discussed about a month before the official procedures.
Both Seimas members and experts note that it is common practice for candidates for heads of major institutions to present themselves in advance to Seimas members and factions, naming their plans and visions. Therefore, the possible new director of the Bank of Lithuania appointed at the last minute can arouse many passions in the Seimas and start a carousel of political disputes, especially considering the tension between the Government and the presidency.
On the other hand, it takes time and a smooth takeover of a position of responsibility.
So far, only one last name of a potential candidate has been publicly revealed from the lips of President G. Nausėda, his top economic adviser Simonas Krėpšta, who also has experience working at the Bank of Lithuania.
Photo by Julius Kalinskas / 15min / Simonas Krėpšta
It is true that Algė Budrytė, the Chancellor of the Chancellery of the Presidency, who has many years of experience in banking, recently announced his resignation: the market says that A. Budrytė could have left the post of the Presidency to “cool down politically”.
Photo by Valdas Kopūstas / 15min / Chairman of the Algė Budrytė Inauguration Committee
The president used this term to argue his refusal to appoint ambassadors to former ministers of National Defense and Foreign Affairs Linas Linkevičius and Raimundas Karoblis, who had applied for the post of ambassador to the United States and the European Union.
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