Latvian President Nominates KPV’s Gobzems to Form Government

(Bloomberg) -- Latvian President Raimonds Vejonis nominated Aldis Gobzems to form a new government after previous talks collapsed amid acrimony a month after the Baltic nation held parliamentary elections.

Gobzems of the KPV LV party, which means Who Owns the State, will have two weeks to form a government, likely consisting of five or six parties, similar to the talks that broke down on Nov. 14. Latvia has been ruled by coalitions pursuing closer relations with Europe and the U.S. since it regained independence from the Soviet Union in 1991.

The Baltic country, a member of NATO and the European Union, was hit with a double reputational blow earlier this year when its third-biggest bank was accused of money laundering and its central bank governor was detained and charged with bribery. Strengthening oversight of the financial sector is likely to be a key issue for the next government.

“We will talk to and listen to all the parties that could potentially form a government,” Gobzems said on Monday after the nomination. “I will do everything so that the government will be formed,” adding that if he fails to form a government within two weeks, he will withdraw the nomination.

Gobzems said he wouldn’t have a problem receiving a security clearance.

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