The National Bloc: A Blow to the Reform Process

The National Bloc is deeply perplexed by the President of the Republic’s decision to challenge Article 3 of the Bank Restructuring Law, which grants the Higher Banking Commission the necessary powers to manage the cases of troubled banks, in line with internationally recognized standards of transparency and sound governance.

The challenge comes as the Prime Minister meets with the International Monetary Fund in Washington, dealing a serious blow to his efforts and those of his government to advance the reform process.

The National Bloc calls on the Presidency to explain to the public the reasons behind this challenge, in order to safeguard not only the reform process we have been promised, but also political stability, which requires coordination and understanding between the President of the Republic and the Prime Minister.