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Glapinski Defends NBP Operations Following Civic Coalition Criticism

POLAND

The NBP press conference is largely in relation to accusations from the Civic Coalition (who now hold a majority in parliament) who have called for Glapinski to be held to account for "destroying the independence" of the Bank and have called for him to be brought before the State Tribunal. Below are some selected comments from the Governor:

  • Never in the history of NBP has there been any serious case of violation of procedures or violation of the law, and no such cases or proceedings were pending. Not to mention breaking the constitution or the law. Therefore, the public skirmishes in which the good of the NBP, its image, and its prestige are being violated are very painful for us. Anyone who attacks the NBP without justification, directly attacks the good of Poland, the good of our homeland.
  • We have said many times that we can join the euro zone when we reach the level of economic development of Western European countries. Then it makes some economic sense. I don't care if it has a different meaning - that's not our task.
  • With President Pawel Mucha, the conflict that was inflated publicly by politicians was publicized... We are striving with joint efforts to calm down this problem in solidarity, so that the management board can act together as a management board in the face of the threat that we encounter that poses a threat to Poland.
    • Mucha is a member of the NBP management board, was appointed by Duda and is a high-ranking lawyer at the central bank.
  • It's unbelievable what's happening today. Today I heard a guffaw on the radio about the fact that the MPC is not receiving reliable documents that it should receive and this is preventing them from working properly. Lie, lie, lie.
    • In reference to comments from the NBP's Tyrowicz earlier today. See more here.
Glapinski comments have concluded with Rafal Sura now speaking, another lawyer at the NBP and member of the management board. Glapinski's defence of NBP operations broadly as expected in the face of Civic Coalition criticism and EUR/PLN unmoved: Rate remains above earlier lows of 4.4152 and holds in minor negative territory.

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