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Draghi Confronts Limit of His Powers as Latvian Standoff Endures

  • Latvian Governor Ilmars Rimsevics returned to work on Monday
  • Crisis may prompt questions at Thursday ECB press conference
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Latvia Waiting for ECB View on Rimsevics, Says Finance Minister
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For all his influence on the wider European economy, Mario Draghi is finding out that he has little sway in fixing a much more local problem.

Almost two weeks after a member of his Governing Council was briefly detained for bribery and extortion, the European Central Bank president still has few options available to address a lingering crisis that endangers his institution’s reputation and exposes the limits of its powers against those of the legal system of a sovereign country.