Vensel throws in towel, returns to academia

  • 2000-04-27
  • By Kairi Kurm
TALLINN - Newly-appointed president of the Bank of Estonia, Vello Vensel, has canceled plans to lead the Bank of Estonia, citing the sudden worsening of his health.

Vensel visited a doctor in Sweden and gave explanations to the public some days later. Prime Minister Mart Laar and several other politicians said this delay in explaining the sudden resignation damaged the reputation of Estonia and its central bank. Vensel said on Estonian national TV he realized after his first intense week he was not ready to accept such a responsibility because of a health condition.

Kaja Kell, spokesman for the Bank of Estonia, said the bank could not foresee this problem.

"The law allows questions to people about their health but does not require an independent health assessment," said Kell.

Bank of Estonia's current vice president, Peeter Lohmus, took over the duties.