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Vasiliauskas to govern Lithuania's central bank for second term

Xinhua, April 8, 2016 Adjust font size:

Vitas Vasiliauskas, the governor of the Bank of Lithuania, was approved for his second five-year term by the country's parliament on Thursday.

During a secret ballot, 59 members of parliament (MPs) voted in favor of Vasiliauskas remaining chairman of the country's central bank, while 23 voted against and 17 abstained.

After winning the approval at the Seimas, Lithuanian parliament, Vasiliauskas said financial stability of the country's financial system would remain his priority during the second term.

During pre-voting discussions, MPs backing Vasiliauskas highlighted his first-term efforts to make the Baltic nation's banking system more transparent and resilient. Since 2011, when Vasiliauskas first became governor, two of the country's banks went bankrupt due to lack of transparency.

Other MPs blamed him for the increase in commercial banks' fees Lithuania joined euro area in 2015.

Vasiliauskas' candidacy was put forward by Lithuanian President Dalia Grybauskaite. The incumbent central bank governor previously worked with Grybauskaite at the country's finance ministry.

Vasiliauskas is also a member of the governing council of the European Central Bank.

The number of the terms a central bank governor can serve is not limited. Endit