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Friday 21.02.2020 | Name days: Eleonora, Ariadne
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Prime Minister: there are loops in the law that can be used to prolong trials

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Krišjānis Kariņš, VDD, economy, FKTK, banks, lending, Latvia

Latvia’s Prime Minister Krišjānis Kariņš

«The difficulty is that there are loops in the law lawyers are able to use to prolong trials,» said Latvian Prime Minister Krišjānis Kariņš in an interview to LTV programme Rīta Panorāma on Wednesday, 5 February.

The prime minister said the existence of loops is also admitted by State President Egils Levits.

Kariņš has asked Justice Minister Jānis Bordāns to resolve this problem. In half a year’s time he expects a vision for law amendments in order to shorten trials.

Riga should think about parks

Looking into the topic of establishing a new office for State Security Service (VDD), Kariņš admitted that it will likely be established at the chosen location – the territory of the former cycling track Marss. The prime minister said a lot of time and money has already been invested in this project to turn away now.

«It would be cheaper and more appropriate for the city to decide where it wants a park,» said the prime minister.

The prime minister urges the city to think not just about construction but also about its green areas.

Kariņš stressed that Latvia needs a new building for VDD and a park for Riga and these two topics do not contradict one another. When planning construction territories, the city should also consider green zones.

Banks offer insufficient loans for the economy

Commenting on Finance and Capital Market Commission chairperson Santa Purgaile’s claims that Latvia’s economy would benefit from any new banks entering the market, Kariņš admits that the banking sector would benefit from greater competition, because it would improve services and «liven up» the system.

The prime minister said banks do not provide sufficient loans for the national economy, which is something that is needed to fuel economic growth. Kariņš said there are many good banks in Latvia at the moment, but there aren’t many large banks.

Read also: Purgaile: Latvia’s economy would benefit from a new bank entering the market

The prime minister admits there isn’t a lot of information to suggest any other banks wants to enter Latvia’s market.


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