/ world today news/ Opinion of the Institute for Modern Politics regarding the review of the procedure for electing a new governor of the BNB.
With an opinion dated June 22 of this year, the Institute for Modern Politics presented to the leadership of the National Assembly, parliamentary groups and departmental standing committees its assessments and recommendations for revising the procedure for electing a new governor of the BNB. In our opinion, this procedure takes place in the conditions of formal transparency, limited competition and obviously has the character of a procedural camouflage, which should legitimize a decision previously taken outside the walls of the institutions. Moreover, limiting the right of individual people’s representatives to submit nominations is contrary to the Constitution and the parliamentary rules. Therefore, in the cited opinion, we made two recommendations:
A) to be referred to the Constitutional Court regarding the limited right of initiative of the deputies and,
b) to comply with the procedure with the highest standards of transparency and publicity, given the importance of this choice for financial stability and confidence in the banking system.
On this basis, we highly appreciate the publicly announced position of 68 people’s representatives from various parliamentary groups – both opposition and government majority – to turn to the Constitutional Court with a request to declare the procedural rules for the election of the governor of the BNB unconstitutional.
The announced referral to the Constitutional Court already imperatively requires a review of the current procedure.
The Institute for Modern Politics emphasizes that it is inexpedient from the point of view of the rule of law and the public interest from a broad socio-political consensus in the selection of the governor, from stability and integrity in the regulation of the banking sector, to expect that with a pending dispute about the constitutionality of the procedure, it can to hold a credible election. Without a doubt, confidence in the legitimacy of the procedure is now severely eroded.
In this situation, The Institute for Modern Politicsthat there are two possible options for remediation of the current procedure:
The first one is, to postpone the public hearing and the election of a new governor of the BNB until the ruling of the Constitutional Court, which will indisputably resolve the issue of the constitutionality of limiting the right of the people’s representatives to make nominations. The mandate of the current governor of the central bank expires in October, which gives a sufficient time horizon for parliamentary action.
The second an option is for the National Assembly to adopt new, corrected procedural rules, which provide for the right of every deputy to make nominations, as well as a requirement for candidates to submit written concepts in advance within a reasonable period of time before the public hearing. This would render the possible request before the Constitutional Court moot and would make it possible to elect a new governor within the current parliamentary session.
The Institute for Modern Politics urges the leadership of the National Assembly and the parliamentary groups to take these options into account. We are convinced that electing a new governor under the current procedural rules before the ruling of the Constitutional Court and with the power of a mechanical parliamentary majority, will not only cast a heavy shadow on the legitimacy of the new governor, but will also deepen the crisis of confidence in the central bank caused from the events in the banking sector in the last year.
The present opinion of the Institute for Modern Politics is sent to the leadership and parliamentary groups in the 43rd National Assembly, to the Speaker and political factions in the European Parliament, to the European Commission and to the European Central Bank.
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