In an interview with Bloomberg published on Friday, Civic Platform member of parliament Janusz Cichoń disclosed that a motion to summon National Bank of Poland President Adam Glapiński to the State Tribunal would be filed with the Sejm on Tuesday. The head of the parliamentary committee on public finances expects Glapiński to resign. This marks another step in applying pressure on the central bank chief, whose term runs through 2028.
The filing would initiate a process aimed at removing Glapiński, a move Prime Minister Donald Tusk has argued reflects political interference. Bloomberg notes this as the agency’s description of the situation.
Committee work
Once the motion is submitted, the parliamentary committee begins a procedure that could last from six months to a year. Witnesses will be heard, including the NBP president himself. Bloomberg notes that PiS is attempting to prevent Glapiński from being summoned before the committee. [Cite: Bloomberg]
There is an awareness that challenges are ahead. The expectation is that obstacles will arise from the president himself.
– Cichoń told the agency.
Only after the committee completes its work and perhaps submits the motion can the Sejm vote on the resolution to summon Glapiński to the State Tribunal. Approval would likely lead to the suspension of the NBP president from duties, Bloomberg recalls.
The prepared application, announced by Cichoń, lists eight charges against Glapiński. These include irregularities in the central bank’s bond purchases during the pandemic and a sharp rate cut prior to the last parliamentary elections. Glapiński denies any irregularities. Cichoń argues that bond purchases required consent from the Monetary Policy Council and the NBP Board of Directors, and questions whether such resolutions were adopted. [Cite: Bloomberg]
“The Most Controversial Attempt”
Bloomberg describes the move to summon the NBP president to the State Tribunal as the most controversial effort yet to disentangle state institutions from populist influence and to restore democratic norms.
There is a belief that the president of such a pivotal institution as the central bank should not become a participant in a political dispute in a country striving to restore the rule of law after years of upheaval.
– Cichoń added with a note of caution.
The filing to summon the NBP president to the State Tribunal was part of the Civic Coalition’s program, titled “100 details for 100 days,” announced before the parliamentary elections. The coordinator of the application also calls for Glapiński’s dismissal, despite his term extending to 2028.
– said Cichoń in an interview with TOK FM.
The KO MP noted that the representative for the applicants regarding the Court of Justice for Glapiński would be the chairman of the Civic Coalition club, MP Zbigniew Konwiński.
Cichoń attacks
Cichoń, who leads the parliamentary committee on public finances, stated that while no one is banning bond purchases by the NBP, questions remain about the purpose of such operations. If the operations were used to finance debt directly, that would be prohibited, especially under the European Union Treaty provisions. The EU Treaty art. 123 effectively bars lending and deficit financing. Although the purchases were framed as open market operations, there is concern about the actual market price formation. The advocate general’s opinion indicates that such purchases can occur within a time frame that supports market price formation. [Cite: EU Treaty analysis]
– said Cichoń.
At the time, the market price was not observed in these trades, which were conducted day by day as BGK and PFR offered prices for the bonds.
– added.
The government’s pandemic actions were seen as necessary, yet not all steps aligned with maintaining the central bank’s independence. The situation required rapid legislative responses during a crisis, but a clear, lawful framework was not always in place. The emergency measures are described as risky and potentially contrary to constitutional rules. The idea of diverting expenditure outside the state budget is described as a legal violation by critics.
– accused the PO MP.
Cichoń also challenged the claim of restoring the rule of law by the December 13 Coalition. He argued that the current government has violated laws, including in public media and the judiciary. The pandemic era saw anti-crisis shields and other measures, but Cichoń cautioned that the actions of Donald Tusk’s team have raised constitutional concerns.
Additionally, part of the effort against Glapiński is seen as a move to suspend him and replace him with a proxy favorable to the new government. There are even discussions about pressing the ECB to admit Poland to the ERM II corridor, which would mark a step toward joining the eurozone.
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PAP/wPolityce.pl/bjg
Source: wPolityce