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December 21, 2008
- Prime Minister Yves Leterme
BRUSSELS, Belgium — Belgian Prime Minister Yves Leterme offered the resignation of his entire government Friday over allegations it sought to interfere with a court case on the Fortis bank bailout.
Justice Minister Jo Vandeurzen resigned earlier Friday after Belgium’s highest court said the government had tried last week to influence the case on the bailout and sale of the troubled bank.
Belgian King Albert II was to decide late Friday whether to refuse or accept the resignation.
The separation of powers is a cornerstone of Belgian parliamentary democracy and the alleged attempts by the government to influence the course of judicial process have infuriated partners in a coalition government that was already shaky.
“Shocking. This does not belong in the rule of law,” said Bart Somers, the chairman of the ruling Dutch-Speaking Liberal party. “A cornerstone of democracy has been put in danger.”
Leterme denied he had done something wrong but said allegations raised Friday by the country’s highest court “made it impossible to continue the government’s work.”
“I insist that at no time was there any meddling, let alone any attempt to prevent the due course of justice,” he said.
The allegations of the court also raised huge questions about the government’s handling of the financial meltdown.
The future of Fortis, once the country’s largest bank, is now in question as the government tries to proceed with the sale of most of the business to France’s BNP Paribas. Thousands of jobs are at risk and many Belgian shareholders have seen their stakes become nearly worthless.
Leterme heads a coalition of Christian democrats, liberals and socialists, split into Dutch-speaking and Francophone parties.
On Wednesday, Leterme told parliament that there had been contacts between his office and the appeals court ruling on a shareholder challenge to the Fortis rescue deal. But he insisted the contacts never amounted to pressure and that he had never tried to influence the court’s decision.
But a new report from the Court of Cassation, the nation’s highest court, cast doubt Friday on assertions that the government had not tried to exert influence.
In his letter of resignation, Vandeurzen said, “I deduce from the statement of the chairman of the Court of Cassation that it cannot be guaranteed that my actions in the Fortis dossier were legal,”
The Fortis case has been one of Leterme’s biggest tests since he became prime minister in December 2007. His coalition ended six months in which Belgium had no government. No party won a clear majority in the June 2007 elections.
Fortis was forced repeatedly to seek government help during tight credit conditions and was eventually carved up, selling off most of its business in Belgium, Netherlands and Luxembourg.
Angry shareholders holding near-worthless stakes in Fortis won a Belgian appeals court challenge to the government takeovers and selloffs last week. The court ruled the shareholders should have been consulted on any major deals.
The appeals became the undoing of Vandeurzen. The legal case effectively blocked BNP Paribas’ purchase of 75 percent of Fortis’ Belgian banking operations and all of its Belgian insurance operations for $19.8 billion.
Popularity: 1% [?]
Tags: Bank Bailout, Belgian King Albert II, Europe, Jo Vandeurzen, Resign, Yves LetermeAugust 18, 2008
Pakistan Cricket Board PCB chairman Dr. Nasim Ashraf resigned on Monday just one month before his country hosts the Champions Trophy his decision to step down, announced by the PCB, came an hour after the resignation of President Pervez Musharraf and the Pakistan president directly appoints the PCB chairman.
Musharraf appointed Ashraf in 2006 after Pakistan forfeited the fourth test against England at the Oval. England were declared winners after Pakistan captain Inzamam-ul-Haq refused to lead his team back on to the pitch when they were docked five runs for ball-tampering. Last month the International Cricket Council amended the result to a draw. I have sent my resignation to the president’s secretariat and told them I can’t continue performing my duties after the president resigned I didn’t think it would be ethically right to continue former chairman PCB told a foreign news agency. Ashraf said his resignation would not have any effect on the Champions Trophy one-day tournament which would be held on schedule from Sept 12. The tournament will go on because the board is an institution and it will continue working. I will continue performing my duties till the resignation is accepted he added.
Dr Nasim Ashraf told the Geo News on telephone that he would present the details of his resignation on Wednesday at a news conference. PCB chief operating officer Shafqat Naghmi, while talking with Geo News said that Dr Nasim Ashraf would continue to work at his position until a new chairman is appointed.
Popularity: 2% [?]
Tags: Cricket, Nasim Ashraf, News, Pakistan, PCB Chairman, Pervez Mushrraf, ResignAugust 18, 2008
President Pervez Musharraf will address the nation today at 1pm in which he is expected to resign according to reports. Some sources confirmed to Geo News that president could announce his resignation in todays address to the nation.
President Musharraf has made up his mind to resign before the impeachment motion is tabled in the assembly sources confirmed and according to Geo News correspondent, some friend countries were trying to broker a deal to protect and save President Musharraf. President Musharraf has agreed to resign on the condition that he would be given indemnity and would not be tried, sources said. Sources further said the president would address the nation as part of understanding. When contacted by Geo News President’s spokesman Rashid Qureshi said President would not resign and added he was unaware of any decision regarding resignation. However he later confirmed that President Musharraf would address to the nation at 1pm afternoon today & according to some sources, it was agreed by political powers that President Pervez Musharraf would stay at Army House in Rawalpindi for short period even after resignation.
Popularity: 1% [?]
Tags: Nation, News, Pakistan, Political, President Pervez Musharraf, Resign, TimeAugust 17, 2008
President Pervez Musharraf said Monday that he was not ready to resign instead he would face the impeachment process from the ruling alliance and this he said while holding meeting with Governor Sindh Ishrat-ul-Ibad Khan in Islamabad.
I would analyze and retaliate the allegations leveled against me in a charge sheet before setting the future course of action he added and on the occasion the governor said that MQM would continue to support President in this context and would openly oppose the impeachment move.
Popularity: 2% [?]
Tags: Governor Sindh, Impeachment, islamabad, News, President Pervez Musharraf, ResignSubscribe/Search
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