Tonight, President Meri invited the Supervisory Board of the Bank of Estonia to Kadriorg in order to give the reasons of his decision made on May 19, where he refused to approve the candidacy of Mart Opmann to the position of the President of the Bank of Estonia, and emphasised that thereby Mart Opmann is not a candidate for the President of the Bank of Estonia.

According to the President of the Republic, he has to ensure separation of powers and his refusal to appoint Mart Opmann is not a political decision, but he proceeded from the interest of the Republic of Estonia and its citizens. The President said that Mart Opmann did not correspond to these interests. The President added that it is not possible to make a compromise with the credibility of the state and that he hoped the Supervisory Board of the bank would find a worthy candidate for the position of the president of the central bank.

President Lennart Meri had asked State Comptroller Juhan Parts to participate in today's meeting, who gave an overview of the work of the State Audit Office in the Ministry of Finance. Juhan Parts told the members of the bank's Supervisory Board that the resolutions of the Chief State Comptroller adopted in the said issue are public documents that everyone can examine on the home page of the State Audit Office in the Internet.

President meri said that he was against the proposal to disperse the Supervisory Council of the Bank of Estonia. The President asked the Supervisory Board of the Bank of Estonia to adopt a balanced resolution by June 19 in order to find an honest, trustworthy and politically independent person, who has a precise vision of the development of the bank for the next five years.

Members of the Supervisory Board asked additional questions from the President and the State Comptroller and expressed their hope that the Supervisory Board of the central bank would continue adequate work, because election of the President of the Bank of Estonia required balanced thinking and calm.


Press Service of the Office of the President
Kadriorg, May 22, 2000

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