ECB Kazimir Found Guilty of Corruption in Latest Court Ruling

ECB policymaker Peter Kazimir fined €200,000 for bribery; retains post as Slovak central bank chief pending successor decision.

A court ruling this week found Peter Kazimir, Governor of Slovakia’s central bank and member of the European Central Bank’s Governing Council, guilty of corruption, deepening the legal and political cloud over one of the eurozone’s key monetary policymakers.

Kazimir, who served as Slovakia’s finance minister from 2012 to 2019, delivered a €48,000 bribe to influence proceedings within the country’s tax administration, according to the court’s findings. He allegedly aimed the bribe at swaying tax-related decisions during his time in office.

ECB Kazimir Found Guilty of Corruption in Latest Court Ruling

Initially convicted in 2023 and handed a €100,000 fine, Kazimir appealed the verdict. However, the latest ruling not only reaffirms his guilt but also increases the financial penalty to €200,000.

Despite the ruling, Kazimir remains in his position as head of the National Bank of Slovakia. His current term expires on June 1, 2025, and officials have not yet decided whether to reappoint or replace him. Under Slovak law, if authorities do not name and approve a successor in time, Kazimir will remain in the role in a caretaker capacity until they confirm a replacement.

The case has attracted significant attention from both domestic and European observers, raising questions about the ECB’s governance standards and the implications for its credibility. While ECB officials typically refrain from commenting on ongoing legal matters involving national central bank governors, the institution may face increased pressure to address the situation if Kazimir’s status remains unresolved.

Kazimir has consistently denied any wrongdoing throughout the proceedings.

The Slovak government has yet to announce whether it will support his reappointment or seek a new candidate for the governorship.

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