European Central Bank Latvian representative at ECB detained in bribery case Ilmars Rimsevics questioned on charge relating to bank accused of doing business with North Korea Ilmars Rimsevics is governor of the Bank of Latvia and sits on ECB council. Photograph: Valda Kalnina/EPAThe reputation of the European Central Bank is under the spotlight after the detention of one its policymakers over bribery allegation. Latvia joined the euro in 2014 and Rimsevics, who has presided as governor of the country’s central bank since 2001, has sat on the ECB council ever since. The ECB, which said Rimsevics’ detention was a matter for Latvian authorities, has a duty to monitor the financial activities of eurozone member states and individual central banks. It was ordered by the ECB to stop all payments after a run on its deposits.

Source: The Guardian February 19, 2018 17:19 UTC