Polish central bank chief seeks truce with PM Tusk over potential tribunal case, FT reports

Tusk's pro-EU government accuses central bank governor Glapinski of breaking constitutional rules with a bond-buying programme and misleading the finance ministry, according to a motion to bring him before a state tribunal. WHY IT IS IMPORTANT Poland's Deputy Prime Minister Krzysztof Gawkowski has said that the coalition government collected the 115 signatures required for the 68-page motion to oust governor Glapinski, who denies wrongdoing, to be submitted to the parliament speaker. The motion will be investigated by a parliamentary commission before going to a vote by the full chamber.

Polish central bank governor Adam Glapinski will write to Prime Minister Donald Tusk to end their feud over a potential tribunal case that seeks to oust him, the Financial Times reported on Monday. Tusk's pro-EU government accuses central bank governor Glapinski of breaking constitutional rules with a bond-buying programme and misleading the finance ministry, according to a motion to bring him before a state tribunal.

WHY IT IS IMPORTANT Poland's Deputy Prime Minister Krzysztof Gawkowski has said that the coalition government collected the 115 signatures required for the 68-page motion to oust governor Glapinski, who denies wrongdoing, to be submitted to the parliament speaker.

The motion will be investigated by a parliamentary commission before going to a vote by the full chamber. If convicted by a state tribunal, Glapinski, whose mandate expires in 2028, could lose his job and, possibly, be banned from running for office or holding managerial positions. Glapinski's deputy said last week the governor will not resign.

KEY QUOTES "I understand that, for Tusk, the easiest way to manage the campaign was to accuse the government and the central bank of causing inflation, because it was so high,” Glapinski told the FT in an interview. "But we are now after the elections. It is time to stop. We have common problems."

"I don’t believe that someone in Poland could accuse the central bank of false monetary policy against inflation or purchases of bonds." "I hope Mr Tusk will change his mind. He is not an economist. Inflation is now coming down to target."

"I will send a letter to Mr Tusk to say that there are so many misunderstandings and so many bad words, which were from both sides, that I think it is time to meet and talk.”