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Skele: Let Komercbanka fail

Jul 22, 1999

RIGA (BNS) - Prime Minister Andris Skele said July 16 he was inclined to let the insolvent Rigas Komercbanka fail rather than proceed with a state bailout of the troubled bank."I should look at this more carefully and consult with the finance minister and president of the central bank, but now, at first glance, I would say no," said Skele on the weekly television interview program "From the Position of Power" when asked if Rigas Komercbanka should be saved. "The bank will be bailed out at the st ...

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