Dombrovskis postponed his visit to Lithuania

  • 2011-11-25

RIGA - Considering the decision of Lithuanian Central bank that was taken on the evening of Nov. 24 to liquidate the nationalized bank Snoras, prime minister of Latvia Valdis Dombrovskis (pictured) has postponed today’s visit to Lithuania, where a meeting with the prime minister of Lithuania, Andrius Kubilius, was scheduled.
This morning both prime ministers conversed over the telephone to discuss the present situation concerning Snoras and Latvijas Krajbanka. Lithuania’s prime minister informed his Latvian colleague about the reasons for the central bank’s decision. One of the main reasons is the deficit of large amounts of finances in the bank. Latvia’s prime minister expressed his regret that in light of the new information about the bank’s actual situation Lithuanian institutions were not able to find a solution to stabilize Snoras.
Dombrovskis also informed Kubilius about postponing today’s visit until mid-December and staying in Latvia to address the situation with Latvijas Krajbanka.
Today at 10:00 a.m., Prime Minister Dombrovskis called for an operative meeting of government ministers, regulators of the financial sector and law enforcement institutions to arrange a plan of action and discuss propositions by the Finance and Capital Market Commission and Bank of Latvia concerning protection of Latvijas Krajbanka clients’ interests and state interests.