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Wednesday 24.01.2018 | Name days: Krišs, Eglons, Ksenija
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Repše no longer wants to manage his own political party

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Baltic news, News from Latvia, BNN.LV, BNN-NEWS.COM, BNN-NEWS.RUFounder and current head of Latvia’s Development Party Einars Repše will no longer be a part of the party’s leadership. With that, the party plans to elect a new leader during the party’s congress this Saturday, November 29th.

In his interview to Rīta Panorāma programme of LTV, Juris Pūce – the party’s secretary general – denied that Repše’s decision to step down as the party’s leader is in any way related to the unsuccessful start in the recent Saeima elections. It is the responsibility of all members of the party, said the secretary general.

During the party’s congress, Pūce will be a candidate for the leadership role in the party. However, he said he does not know who else wants to take up this role.

According to Pūce, one of the reasons why the party failed to achieve good results during elections is the party’s relatively small size. Therefore, the party needs to add more members.

In order for the party to be able to attract new members, it is necessary to be different from other parties, said Pūce. It is planned to seek new members by organizing different events, not just by organizing internal talks.

BNN had previously reported that two years after submitting his last declaration, Einars Repše’s financial state has become truly catastrophic: if the leader of For Latvia’s Development party does not find money from some stash or if his lenders do not «forgive» his debts, the only option for his will be the announcement of personal insolvency.

With the wage Repše would be paid as Healthcare Minister, he would be able to pay back his debts in 37 years without spending anything on food and other necessities, as written by Pietiek.

In the declaration dated November 3rd, 2013, Repše noted that his total debts before unknown lenders were equal to EUR 1.32 million.

Officially, Repše had lent nearly EUR 176 thousand and $494 thousand. Repše continued to «eat away» the remaining amount. One year ago, the amount had reduced by approximately LVL 16 thousand – down to LVL 144 thousand. It had reduced to LVL 132 thousand shortly after.

With all that, Repše’s personal balance was deeply in the negative at the end of 2012. The situation had only worsened over the course of the next year – his debts now exceed EUR 584 thousand.

The ex-politician still owns a house in Ikšķile, as well as three pieces of property in Barkava and Kaunata parishes. He also owns a motorcycle, tractor, one Škoda automobile, shares in IPS Global Fondi and a small deposit in Swedbank open pension fund. He does not have any declared savings.

In preparations for the 12th Saeima elections, Repše has stated in his declaration that his debts have allegedly significantly reduced – down to «only» EUR 791 thousand. However, the declaration also shows that Repše has effectively used up all the money that was lent to him at the end of 2012.

He no longer has any cash savings. All that he has left is $13,048 as non-cash funds and securities worth EUR 2,770 on his Swedbank open pension fund and shares worth $140,000 in nine foreign companies.

This means Repše is completely dependent on the good will of his lenders. On top of that, he has no properties to sell in order to cover a ‘hole’ that is more than EUR 500,000 big. The politician can only hope for some financial miracle or patience of his creditors, because if they ask to have debts be paid back, Repše would be forced to announce personal insolvency.

Ref: 102.109.109.5346


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