A court near Bratislava convicted and fined European Central Bank (ECB) Governing Council member Peter Kažimír after bringing bribery charges against him.
The fine of €200,000, if unpaid, would come with the penalty of a year in prison. Kažimír denied bribing a senior tax official with €48,000 during his tenure as finance minister. Selected companies were granted expedited VAT refunds after the bribe.
Kažimír, whose responsibilities include setting ECB interest rates, will not step down and is likely to continue his role past its June 1st end-date. He did not appear in court, due to official business in Hong Kong.
Slovakia’s central bank—which the Smer supporter also governed—acknowledged the ruling, Kazimir’s lawyer Ondrej Mularcik stated
We disagree with the court’s decision … We consider it unlawful and entirely contrary to what was presented during the main trial.
The former minister will appeal. Meanwhile, the ECB continues to preside over a flailing economy that lags behind the U.S.
