Today, Prime Minister Rama held a meeting with the team of technical leaders of the Bank of Albania to discuss the current situation of the Bank, following the recent events. After the meeting, Prime Minister Rama held a press conference in the Prime Minister’s Office and responded to the media interest on these developments.

Prime Minister Rama:

Good afternoon everyone!

First, let me sincerley congratulate our Red & Black team that last night thrilled the entire nation through a victory that was both surprising and deserved, against one of the greatest teams of world football. I know that many can say that victory was desrved by the Portuguese and not by us, but I have learned from a Protuguese coach, who I admire and whose name is Jose Mouriño, who says that “victory is deserved by whoever loves it more.” And, yesterday, those boys dressed in white, who put their hearts and souls on the field and stole the victory from Portugal, showed us all that nothing is impossible when we all together give everything to achieve it.

Now it is clear that October 11 in Elbasan will be very hot. Despite the outcome, whatever it is, I want to wish with all my heart that the Red & Black boys will put their souls on the field from the first minute to the last one and will continue to inspire our nation with their commitment to the shirt. However, it is our duty to have the new national home completely ready and to convey on that day a beautiful image of the hospitable Albania.

Now, I think that it is important to communicate directly with and through you with the public on the current situation of the Bank of Albania.

It is clear that everything happened this week has brought to the attention of the entire public, and certainly to our attention, a problem internal to the BOA which certainly must be addressed and resolved as soon as possible. But in this understandable noise and the continuous and daily tam-tam that have been accompanying this story, it is equally important to note that the strong stalemate where the Bank of Albania is today has to do with an administration problem internal to the Bank, and it has no connection with the financial system, which would have then been a really big problem in itself for the entire banking sector and economy as a whole. Fortunately, we are not at all in those conditions and the financial stability of the country is totally intact and guaranteed.

On the other hand I cannot hide what has been obvious during these weeks: the position of the Albanian government has been very difficult in relation to the extensively dealt issue, and the reason is what we have been repeating, as we have clearly said since the first statement that the BOA is an independent institution. Bank of Albania’s independence is an essential condition for the proper functioning of this fundamental institution for the state, and in order to build the relationship between a government that is aware of this and the Bank itself.

But, of course, given that the Governor of the Bank has been arrested by the investigating authorities and dismissed by the Supervisory Board, the current situation goes beyond the day-to-day administration of the Bank and imposes appropriate decision making by the government and the parliament. Just to ensure appropriate decisions, several cabinet ministers, namely the Minister of Finance and the Minister of Economy, and I have developed a very intense process of contacts.

I believe and we believe that this crisis management of the Bank of Albania can and will turn into a new opportunity for BOA. We have shown that we can bring change and will do the same thing again. We will demonstrate that not only we are fully aware of the importance of the independence of the Bank of Albania, but also that we are able to build modern systems of management and control in BOA, so that this dramatic episode not only will not be repeated anymore, but also everything good and known as such that BOA has built in all these years, will go further.

I just had a meeting with the team of technical leaders of the Bank of Albania and went and met them, because I believe that this team, which has nothing to do with what happened and which is credited for guaranteeing, year after year through a constant work, the stable and widely appreciated performance of BOA, does not deserve to suffer any kind of pressure but deserves to be supported and encouraged. Of course, it deserves to feel appreciated even in these moments in which it is very difficult for a central bank to continue guaranteeing the normal operation, ensuring no small thing, but a very important thing, that the whole financial system can continue to function normally. The fact that the Bank of Albania has a management team of technicians with an undisputed reputation among all international partners, who have cooperated with the Bank, is a very important foundation stone to build further and to take further a job that could certainly be improved, but that in no way should be dismissed.

We had an open and valuable discussion on how to address the problem. Of course, I am not talking about the problem addressed by the investigation and justice, because once again, it is a very serious one, but fortunately I am talking about a problem that is not related to the rest of the Bank’s work. We talked about what changes should be brought, taking advantage of this management crisis, to create a new opportunity.

After I returned from the Wales Summit, I immediately met with the Speaker of Parliament, at the same time co-chairman of the “Alliance for European Albania”, while yesterday I met with the President of the Republic with whom I believe I had an open and fruitful exchange of views. We will continue to be in touch. Additionally, we are in constant touch with representatives of the International Monetary Fund, with whom I have personally met twice, while ministers are in constant touch with experts of undisputed international reputation who are advising the Albanian Government. I am absolutely confident that we will identify quickly but without rushing, the most sustainable way to even bring the Bank one step further than it was before this problem occurred, both in terms of reputation in the international arena and in terms of professionalism.

We have discussed with the staff of the Bank also on the nature of the legal changes required and what we need to do eventually is to immediately make changes in the entirety of the law. We will take our time and will discuss it thoroughly. Meanwhile, if any interventions to the law are required to meet the needs of the moment, we will obviously make them as well.

It is very important that everyone get a very clear message that no job vacancies are available in the Supervisory Council of the Bank of Albania and not job vacancy is available in the position of Governor of the Bank of Albania. We will deal with such positions with all the respect and dignity of a governing majority, which will prove to Albanians that it is able to modernize Albania and raise the quality of institutional performance.

Of course, there are natural temptations, natural ambitions, natural stimuli and motivations to move towards those positions but, without any doubt, we totally agree on the fact that the politicization of this process and advanced political profiles in this process would be the lack of vision and accountability as far as this situation is concerned. Albanians deserve that, from this stalemate, BOA emerges more independent, stronger, safer and with an undisputed increased capacity, internal transparency, so that the work done until now can continue with increased results.

I cannot give more details. I have a scheduled visit to China where I will meet with Chinese Prime Minister to discuss some projects, for which we have opened channels of communication. Certainly there is no rush and no need to not perform this duty, according to the scheduled agenda. This shows once again, or is one more proof, that there are conditions where we need to go in a big hurry. We are in the conditions in which we must keep calm, act quickly but without rushing and get ready and proceed with the right decisions, for which we receive the consent of our international partners, the International Monetary Fund, the World Bank and of others as well. We will surely have their full consent once we have performed these processes and once the Bank of Albania has emerged from all this much stronger and much strengthened with higher professional capacities.

This was my presentation, and I am certainly open to your questions.

 

– Mr. Rama, when you say that there is no job vacancy for the position of Governor of the Bank of Albania, does this mean that you have not discussed with your coalition partners, Mr. Meta and President Nishani, on concrete names, on who will take the place of Mr. Fullani?

When you say that there is no rush, does this mean that you will wait for the changes to be made in the law and then have a name for the Governor of the Bank of Albania?

Some time ago, you said that you were not happy with the work of the Attorney General, because in all reports from the Government, none of the former senior officials were seriously investigated. Does the arrest of Mr. Fullani mean that the Prosecutor has started to walk in the right path to investigate former senior officials?

 

Let’s start with the first question, which relates to what we have discussed and agreed on with the Speaker of Parliament and partner in leading the coalition. We have agreed that this management crisis should be handled and used as a new opportunity to strengthen the independence of the Bank of Albania, to enhance security and restore full confidence in a faster time in the Bank of Albania and to create the necessary mechanisms of full transparency within the Bank of Albania. This is what we have agreed on as a strategic line in this process.

Secondly, we have agreed that job positions are not job vacancies. Additionally, most of us will act with great ambition. We will do everything is up to us to put in those positions professionals with the highest level possible.

Thirdly, I can tell you that every name that you, your television channels, have been discussing, gossiping and speculating about, – I am talking to everyone – is not part of the candidates for Governor of the Bank of Albania. No one!

As for your question regarding the work of the Prosecutor and the Attorney General, I can tell you that we, I, the Speaker of Parliament, the Government, the governing majority, have been clear since the very beginning.

We fully support the investigation and the whole process of investigation as well as the work carried out by justice that has the last word. And, if this the Prosecution is raising the curtain to fight abuse of power and corruption or all phenomena in general that have exhausted Albania in all these years, up to the higher levels, it is not shown by this case. Time will tell if there is a second, third, fourth or fifth case. This event, in itself, is what we have said, a chance to be investigated and dealt with thoroughly by justice. For it is a scandal that cannot be overcome or forgotten in a dragged process of investigation and trial. So, it is justice that has the last word.

What we have done and will do is to not confuse roles and tasks at any moment. Our role has been and remains what we have determined from the outset. Our task now, is to take, based on our responsibility, the necessary decisions to take further and into a higher professional level the work at the Bank of Albania, and to give all the necessary support to the staff of technical leaders and experts of the Bank of Albania who have nothing to do with this problem, but do their daily work and lay at the basis of all guarantees that the system has today.

 

– Who is the governor you have in mind? Where should he come from, what qualities should he have? What will happen to the Supervisory Board? You talked about a reform that foresees legal change. Does this profound reform foresee also a change of the Supervisory Council?

It is sure that the governor I do not have and we do not have in mind is any of the governors that you have in mind. The one you have in mind and have written or talked about. It is equally certain that we want to give Bank of Albania a Governor who will be immediately hailed internationally as a professionally and morally uncontested choice. As for where he will come from, he will certainly come from the system, meaning the financial and banking system. As for the Supervisory Board, I repeat that we will act quickly, decisively, but without being rushed and will respect in every step the institution’s independence and the principle we have decided since the outset. This is not a process where the majority will use the votes to put under control the Bank of Albania or to create positions that can politicize the process and do not strengthen the reputation of the Bank of Albania. This is the principle!

 

-In your speech you implied that whoever takes the place of the Governor and a place in the Supervisory Board will have no political profile. Does this mean that all the inflected names of former finance ministers are not admitted?

 

They are automatically excluded.

 

– This means that the new Governor should be an expert in the banking system and should only come from the fields of Banking Regulation.

 

This is all I can say for the moment.

 

– After the situation created in the Bank of Albania, the question Albanians ask today is: how secure are Albanians’ deposits in the Second Level Banks? And is the financial stability at the Bank of Albania and across the country shaking?

 

Thank you for your question! One suggestion, do not confuse the Albanians’ deposits with bad credit. Albanians’ deposits are 100% safe. The financial system is 100% solid. And, if it were otherwise, any differently, remember that we are under the monitoring of the IMF, an international institution which has been created and is located today around the world to sound alarm bells if “fire” is in the air. There is no such a problem. And, in this respect, I would ask the media to take on in a clear and distinct way their undisputed role in making transparent to the public any information of any nature, having the big responsibility of not violating people’s confidence and tranquility concerning the financial system. It is a thin line in this case, because we are talking about the Bank of Albania, but it is equally certain that what happened is not related to the financial system but is a problem of administrative and criminal nature, definitely, and which does not affect in any way the entire banking system in Albania. There is no problem of this nature.

 

–You said that for electing a new Governor, but also for the Supervisory Board, the majority will not use the force of vote. Is this a good opportunity to have an inclusive and approached process to the opposition? Will there be a Governor who will get all the votes of Parliament, or eventually, only the majority will decide?

 

I did not say that we will not vote and will not use cards; we can also use the electronic system, depending on the voting procedure. I said and I will repeat that we will not use our majority to politicize the process or to prejudice the independence of the Bank of Albania. It will not happen! But it is sure that we will use our votes. If the opposition sees this moment as an important moment to return to duty, we will certainly welcome them and I am ready to meet with the chairman of the opposition or the leader of the Democratic Party to exchange views on this. But I have no invitation to extend, because I have been rejected enough invitations. Meanwhile, I am open to any invitation and any communications, if they have something to communicate and to say.

– You are saying that the time has come to depoliticize the Bank of Albania and give it back to professionals. Is it also time to depoliticize other independent institutions as well?

 

I did not say the time has come to depoliticize. I said it is a delicate moment when the temptation created by the vacant positions is such that it can lead to politicization and to abuse of what we represent, which is the faith of Albanians. This is what I said. But it is sure that we have the duty to take appropriate decisions and to use our mandate to fill this vacuum, in cooperation with the President of the Republic. It will be great, if the opposition is cooperative as well. We are completely open. And, therefore, I wanted to reiterate and I reiterated thanks to a question, that no political figure of today, of yesterday or of the day before yesterday, is part of this process.

 

– As long as Governor Fullani was not under arrest, the position of the Government and your position were equidistant to maintain the independence of the Bank. The moment he was arrested, you started the meetings made public in these two days. Is not there any violation of the independence of the Bank in these meetings? Looks like a column: should he be gone for intervention to take place?

Secondly, can you say something more about the meeting that you had with President Obama? Was the topic of this meeting just anti-terrorism or also anti-corruption?

 

We are here for the Bank of Albania! We did not discuss with the President of the United States the Bank of Albania.

Meanwhile, we are in a new situation. Yesterday, I met the Governor in office, at her request. Quite naturally she asked to meet with me, with the Speaker of Parliament and the President of the Republic. It was her request to have these meetings. I discussed with her and I clearly understood the need to give a clear message, the support we have repeatedly given through our previous positions to the Bank of Albania professionals. I have only done this. Do not forget that I visited the Bank of Albania after the election, even before taking office. So, the Prime Minister’s visits to the Bank of Albania are not a violation of independence. Likewise, the Governor’s visits to the Prime Minister’s Office are not a renunciation of independence. It’s just a completely normal communication, necessary, between institutions.

 

-Mr. Prime Minister, are you aware of the funds of the Government or of the City Hall invested in the Castle of Gjirokastra during last year? And, can you tell us why you did not attend the wedding of Minister Veliaj? There is a rumor that your relationship with the Minister has cooled.

 

You have a special talent to bring home the bacon by making up stories, and then commenting them, and then analyzing the comments of your made-up stories. My answer to both questions is “No. Absolutely not!” These are questions that come from your made-up stories. It is your right, so do not consider this as interference in your independence. It is your right, but I cannot help but tell you what I think, appreciating very much the fact that you say what you think although we think differently.

-Throughout your communication so far, you have never said “Fullani will be dismissed.” When will the majority, the Parliament, respond with the vote to the request presented by the Supervisory Council of the Bank of Albania?

 

Throughout this process, the Government has shown one thing:

The time of a proprietor government is over. Now it is time of a serving government! The time of a government that knew it all, whose nose was in every one’s business and that used to make a lot of misdeeds by abusing its power, is over!

The government has no right to dismiss the Governor of the Bank of Albania. It does not have this legal right! A request for dismissal of the Governor of the Bank of Albania by the Government has come from sources that are completely uninformed about the law or that do not comply at all with the sense of ethics. Today, the governing majority has the obligation to respond to a request coming from the Supervisory Board and we will respond to the request coming from the Supervisory Board. Of course, we will vote the request of the Supervisory Board, the decision of the Supervisory Council. The time is now, that is why we are talking about it now.

I hope that this aspect of the issue has been exhausted. We will certainly have time to talk about the others aspects, but do not try to find the Governor among politicians or former politicians.

Thank you!