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Legal Issue May Hamper Glapinski's Bid For 2nd Term

POLAND
  • (Bloomberg) RMF reports that there are various legal opinions regarding Glapinski’s eligibility and that President Andrzej Duda, who nominated him for a second term, is seeking clarity on the subject :
    • Issue stems from central bank regulations which bar people from serving on more than two consecutive terms on the NBP’s board; Glapinski was elected to the board in February 2016, just months before he became central bank governor.
  • EURPLN is up following the announcement, with the pair breaking above the 4.70 level; next resistance to watch on the topside stands at 4.7280.

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