President of Georgia vetoes the amendments to the Organic Law “On the National Bank”. As Salome Zourabichvili explains in her statement, she vetoes the amendments to the Organic Law because “it is neither necessary, urgent nor argumentative!”.

“I veto the amendments to the organic law “On the National Bank”, because they are neither necessary, urgent nor argumentative! What is happening today?

The process of selecting the President of the National Bank [NB] is underway. The President of Georgia is working to nominate 2 members of the Board of the NB to the Parliament.

In parallel with this process, the Parliament adopted legislative amendments - adding 1 position, in the form of the 1st Vice President, who will become the acting President of the NB, until the President of Georgia appoints a new Head of NB. What is the need for an additional Vice President position?

While it is easily possible for 1 of the 3 acting Vice Presidents to perform the duties of the President, this is confirmed by practice. Therefore, the question arises: is the Government not satisfied with any of the Vice President"s candidacies and does it need to create an additional seat?

Also, there is a doubt that if the candidates presented by the President do not have the support of the Parliament, the law allows the first Vice-President to perform the duties of the President of the NB for an indefinite period.

Such doubts must be eliminated because otherwise, the principle of independence of the NB may be called into question.

Thus, the President, based on the interests of the country, hopes that the veto will not be overridden and that the motivated remarks proposed by her will be taken into account”, - reads the statement.