Center Party to sell Old Town headquarters to cover debts
The leadership of Estonia's Center Party decided unanimously on Tuesday that the party must sell the building of its headquarters in Tallinn's medieval Old Town in order to improve its financial standing.
"The finances of the Center Party have been in a disorder for a long time and the wish of the new leadership of the party is to find a solution to financal problems as quickly as possible," Jaak Aab, the party's secretary-general, said in a press release.
"Albeit with a heavy heart, we decided to begin working toward selling off the property situated on Toom-Rüütli Street," Aab continued. "This is a property of enough value to allow us to meet all of our [financial] obligations."
The administrative head of the party emphasized that the Center Party had begun observing very strict financial discipline.
"This kind of irrespnsible attitude toward financial matters and uncontrolled spending — there will be none of it in the Center Party anymore," he continued. "However, to correct the mistakes made earlier, we will be forced to sell real estate."
According to Aab, whether the party would choose a rented property as the new home for its headquarters or buy something smaller and less exclusive had yet to be determined.
At an extraordinary congress held in Paide on Nov. 5, the Center Party elected Jüri Ratas as its new chairman, replacing longtime leader Edgar Savisaar. Shortly thereafter, the three-party coalition government led by Reform Party chairman Taavi Rõivas collapsed and Prime Minister Rõivas ousted following a successful no-confidence vote against him in the Riigikogu.
A new coalition was formed consisting of previous junior coalition partners Pro Patria and Res Publica Union (IRL) and the Social Democractic Party (SDE) and senior parter Center Party, which was assumed office two weeks ago under the leadership of Center Party chairman and new Prime Minister Jüri Ratas.
Editor: Editor: Aili Vahtla
Source: BNS