BELGRADE, Serbia, Nov. 16 (UPI) -- Serbia's National Bank has complained to the European Central Bank and the European Commission alleging its independence is being violated.
The bank said Thursday it sent letters to the two EU bodies informing them that a law accompanying the country's recently approved constitution jeopardizes its independent status because it foresees an early election of the bank governor.
Despite the fact the governor of the national bank is elected for a 5-year-term to avoid influence of a new government, elected for a 4-year tenure, the new law stipulates the national bank governor will be elected after parliamentary elections Jan. 21.
The statement said that the election of a governor thus becomes a political issue at the time of every parliamentary election, violating independence of the national bank and stability of the monetary and financial systems of Serbia.
There was no immediate response from either body.
