An inquiry motion to summon National Bank of Poland (NBP) President Adam Glapiński before the State Tribunal has sparked intense debate in Poland’s Sejm. The move, purportedly to pave the way for euro adoption, is met with skepticism by some lawmakers.
The primary allegation against Glapiński pertains to the NBP’s bond purchases during 2020-2021. While some supporters of former Prime Minister Donald Tusk defend Glapiński’s actions, citing their support for Poland’s economy, others question his resistance to proposed monetary policies.
Experts speculate that the motive behind the inquiry is merely to replace Glapiński with a more euro-friendly candidate aligned with the majority in Sejm. Despite European Central Bank reassurances, suspicions persist over the true intentions behind the push for Glapiński’s removal.
The Euro Dilemma: Economic Gain or Loss?
“Adopting the euro will be disastrous for Poles. Not only will we transfer our reserves to Germany, but we will also be repaying the debts of Western European countries,”
says MP Jarosław Sachajko.
As the debate unfolds, concerns linger regarding the potential ramifications of adopting the euro, including surrendering reserves and assuming debts. Whether the inquiry serves the economy’s best interests or political agendas remains a contentious issue in Polish politics.
“A few weeks ago, the head of the European Central Bank issued a stern letter, clearly emphasizing that there are no grounds for dismissing Prof. Glapiński from his position as the President of the NBP,” adds MP Sachajko.
“Not only will we transfer our reserves to Germany, but we will also be repaying the debts of Western European countries,” added the representative of the public finance committee.”