Coordinator Of Works On Motion Against NBP Gov Claims Formula Of QE Scheme Was Illegal

Civic Coalition lawmaker Janusz Cichon, who coordinates works on the motion to bring a case against NBP Governor Adam Glapinski to the Tribunal of State, told TOK FM that while the bond-buying programme initiated by the central bank in the midst of the pandemic was not illegal in principle, but its specific shape violated existing regulations.

• Cichon: "I assume that this solution is possible and best from the point of view of the security of our finances, that is removing Governor Adam Glapinski from office. I hope that it will happen, and we will soon learn if this hope is justified."
• He further explained that Glapinski's voluntary resignation would be an optimal solution and he hopes that the Governor will take such a decision in the course of the initial probe by a parliamentary committee.
• Cichon argued that the way in which the NBP conducted QE operations amounted to debt monetisation and accused the central bank of failing to keep certain precautions regarding the timing of the operations.