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Latvia regains ECB representation after barred governor names alternate

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Latvia regains ECB representation after barred governor names alternate

Latvia has regained representation on the European Central Bank's governing council after the appointment of an alternate by the central bank governor, Ilmars Rimševics, who is facing bribery charges.

The country lost its vote at the ECB after Rimševics was barred from office over charges that he took a bribe of at least €100,000.

Latvijas Banka Deputy Governor Zoja Razmusa has been formally appointed as an alternate, which means she can now vote at the ECB's meetings, Reuters reported.

The ECB's governing council comprises six executive board members as well as governors of the individual central banks of the 19 eurozone members.