Slovakia’s Central Bank Head Convicted of Bribery: What We Know So Far

On Thursday, Peter Kazimir, Governor of Slovakia’s National Bank and a member of the European Central Bank’s (ECB) governing council, was found guilty of bribery and received a two-year suspended sentence, along with a fine of €100,000 ($110,000), by Slovakia’s Special Criminal Court. This shocking verdict has sent shockwaves throughout the country.

The Conviction

Kazimir was convicted of paying a bribe of €48,000 ($53,000) to the head of the Slovak tax office during a tax investigation. The details of the case are scarce due to the proceedings taking place without a trial.

Reaction from Top Officials

President Zuzana Caputova and Prime Minister Eduard Heger, who had previously called Kazimir’s involvement in the alleged corruption “unacceptable,” urged him to resign following the conviction. However, Kazimir remained silent on the matter.

Impact on Slovakia’s Economy

As a member of the ECB’s governing council and head of Slovakia’s National Bank, Kazimir’s conviction raises concerns about the country’s economic stability. Slovakia is one of 20 European countries using the euro currency, but this scandal could have far-reaching implications for the country’s financial future.

Background on Kazimir’s Career

Kazimir served as Slovakia’s Finance Minister from 2012 to 2019 and was a member of Robert Fico’s Smer-Social Democracy party. He took over his central bank job after leaving politics.

Corruption Allegations in Slovakia

Corruption allegations have become commonplace in Slovakia, with charges filed against senior officials, police officers, judges, prosecutors, politicians, and businesspeople. The current coalition government, which focused on fighting corruption during its campaign, faced a parliamentary no-confidence vote in December and lost, leading to an early election in September.

What’s Next for Kazimir

Kazimir can appeal the decision, but if he fails to pay the fine of €100,000, he could face imprisonment. The ECB has declined to comment on the matter.

Implications for the Upcoming Election

Recent polls suggest that former Prime Minister Robert Fico, who opposes military help for Ukraine against Russia, stands a realistic chance of winning the upcoming snap election. This scandal could have significant implications for the country’s political landscape and economic future.