Lithuanian Parliament Rejects Call to Oust ECB’s Vasiliauskas

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Lithuania’s parliament rejected a non-binding resolution calling on European Central Bank Governing Council member Vitas Vasiliauskas to step down, a move critics saw as politically motivated.

The result is a further blow to Prime Minister Saulius Skvernelis, who backed the motion even after failing on Sunday in his bid to win the presidency. His campaign heavily featured bashing of officials and institutions involved in the 2008 financial crisis.

That message didn’t resonate with voters and Skvernelis pledged to step down after being eliminated in the first round of the ballot on Sunday.

Tuesday’s resolution, supported by the minority ruling coalition, called on Vasiliauskas, who also runs Lithuania’s central bank, to quit or be dismissed by President Dalia Grybauskaite if he refuses, claiming he’s not cooperating adequately with a parliamentary probe into the 2008 crisis.

Central banks around the world have come increasingly under political attack as populist sentiment increases. Vasiliauskas said he saw no basis for resignation.

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