Page 17 - bne_newspaper_June_21_2019

Eastern Europe
June 21, 2019 www.intellinews.com I Page 17
Ukraine’s Constitutional Court validates President Zelenskiy’s decree to dissolve parliament
IntelliNews Pro
Ukraine’s Constitutional Court ruled that Presi- dent Volodymyr Zelenskiy’s decree to dissolve the Verkhovna Rada and hold early elections was lawful, the court announced on July 20.
The design heads off what could have ended
in a constitutional crisis and clears the way
for a general election that is already scheduled for July 21.
Zelenskiy announced the dissolution of the
Rada in his inauguration speech on May 20. However, his right to dissolve parliament was in question as he can only dissolve the Rada if there has been no ruling coalition in place for more than month. The current coalition collapsed shortly after the presidential elections, which in theory would have frozen the Rada for a month while a new coalition was formed. However, Zelenskiy argued there had never been a coalition as neither the founding document nor the members list was ever released, as it must by law.
The Constitutional Court’s ruling is binding and not subject to appeal.
Early polls should work to the advantage of Zelenskiy’s new party, Servant of the People (SOTP), which has no members in the current Rada but hopes to cash in on Zelenskiy’s landslide win in the presidential elections.
Read the full story here
Moldova’s banking sector turning the corner
Moldova has long been a money-laundering black hole. Then in 2014 they had a shock when more than $1bn was stolen from the bank sector – equivalent to 15% of GDP.
Belatedly the government is now responding. Stakes in three of the country's biggest banks, which together account for about 80% of the sector’s assets, have been sold to the European Bank for Reconstruction and Development (EBRD) and private investors and the central bank has been given real teeth to enforce regulations.
bne IntelliNews editor-in-chief Ben Aris talks
to special advisor to the president and head
of strategic planning at Moldova-Agroindbank (MAIB) Corneliu Munteanu and asks if Moldova’s banking sector has turned the corner.
Corneliu Munteanu
special advisor to the president of Moldova, head of strategic planning at MAIB
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