20 - 26 августа 2013   № 18 (2125) Издается с 1990 г.
Latvian Dissident Narrates New Youtube Video about the EBRD
Latvian dissident John Christmas has narrated a new Youtube video about the Latvian Financial Crisis, which was caused by the bailout of Parex Bank by the Latvian government and EBRD.

Christmas, whose father was born in the USA and mother was born in Latvia, has been living in exile from Latvia since 2005 when he blew the whistle on Parex, where he was Head of the International Relationships Group.

The video is titled “Latvia EBRD Fraud 2013” and it is on the “LatviavEBRD” Youtube channel. The same channel also has videos from 2011 and 2012 about the same issue. The 2012 video received over 120,000 views, making it one of the most popular videos ever about Latvia.

The issue is that a leaked document from the Latvian government's consultant Nomura indicates that the EBRD's 2009 purchase of Parex stock from the Latvian government was deceitful because the agreement included a secret “put option” whereby the EBRD can reverse the transaction in 2014 and receive “compensation.”

Christmas said, “The EBRD is funded by taxpayers from 64 countries who have a right to know what it is doing with their money. I have been trying for years to communicate with the EBRD through emails, letters, videos, and articles. I cannot get any response despite claims on www.EBRD.com that they support whistleblowers.”

EBRD officials have repeatedly told journalists that the terms of the Parex transaction are secret. Therefore, taxpayers must wait until 2014 to see if the 2009 purchase will be reversed. By that time, it will not be possible for Latvia to prosecute the frauds from Christmas' 2005 whistleblowing because the “statute of limitations” will be expired.

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