Latvia: The oligarchs’ exit: Time up for tycoons | The Economist

Larvia’s elections on September 17 were called as a result of the political upsets in the summer when President Valdis Zatlers tried to confront the grip that he said the country’s three “oligarchs” had on its parliament, the Saeima. Bloomberg has a useful summary of the state of play. It looks as though the parties affiliated with the tycoons may win only 14 of 100 seats, down from 51 five years ago and 30 in 2010.

Aivars Lembergs, mayor of the big port of Ventspils, will probably do best. A poll gives his Greens and Farmers Union 8.5% which will at least get it into parliament. He faces a long-running investigation for bribery, money laundering and abuse of office since 2008 (he vehemently denies all wrongdoing). Ainārs Šlesers, who was at the centre of a controversy that prompted this summer’s crisis, is unlikely to return to parliament. His “For a Better Latvia” is polling less than the 5% threshold. The third “oligarch” Andris Šķēle has dissolved his party. 

Full Article: Latvian elections: the oligarchs' exit: Time up for tycoons | The Economist.

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