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Liu/Yellen Talks Boost Sentiment

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Laurence Norman at WSJ tweets: "EU says [Commission President Ursula] von der Leyen told college of commissioners Poland's EU treaties ruling was a "very serious issue in relation to the primacy of EU law" and laid out some of the responses it could give -- from infringement process, to rule of law conditionality, to Article 7."

  • Last week, Polish Constitutional Tribunal ruled EU law could not have primacy over Polish law under the Polish constitution. This risks a major breach of EU-Polish relations, with EU legal primacy a key principle of the bloc under its founding treaties.
  • Article 7 proceedings could see structural funding to Poland curtailed or its voting rights in EU institutions withdrawn. Poland is the single largest recipient of EU structural funding, making the threat a very real risk for the gov't in Warsaw.