US EditionPolish President and Central Bank Chief Present "Sovereign" Alternative to €44bn EU Defence Loans
The Polish SAFE 0% plan aims to fund €44 billion for defense interest- and debt-free using National Bank profits and gold, pending government cooperation and legislation.
- On Thursday, President Karol Nawrocki and Adam GlapiDski announced a sovereign Polish alternative to the €44 billion EU SAFE programme, called `Polish SAFE 0%`, with no loans or interest payments.
- Parliament's majority passed legislation in February to enable access to SAFE, now with Nawrocki, who has 21 days to sign, veto or send it to the constitutional court amid PiS concerns.
- NBP officials pointed to accumulated gold purchases and transfers of annual profits as funding possibilities for the plan that they claim will guarantee 185 billion zBoty, interest-free and debt-free.
- Defence Minister Władysław Kosiniak‑Kamysz said he was open to additional financing instruments but insisted they were not an alternative to SAFE, while the government urged Nawrocki to sign the bill, arguing almost 90% would be spent on Polish arms.
- Although specifics were not given, proponents say a domestic route would unlock the same amount and require government and parliamentary cooperation, with details to follow.
18 Articles
18 Articles
Polish President Karol Nawrocki has presented a "sovereign alternative" to the EU's soft loan program for defense, which is being fiercely disputed by the ruling centrist coalition and the conservative opposition, the TVP World portal reports.
Polish president and central bank chief present "sovereign" alternative to €44bn EU defence loans
Keep our news free from ads and paywalls by making a donation to support our work! Notes from Poland is run by a small editorial team and is published by an independent, non-profit foundation that is funded through donations from our readers. We cannot do what we do without your support. Poland’s president and central bank governor, both of whom are associated with the right-wing opposition, have proposed a “sovereign, Polish” alternative to the…
The "Polish SAFE 0%" project is intended as a response to the European arms financing program. In practice, it becomes another example of the President of the National Bank of Poland intervening in the current political dispute. This means that Adam Glapiński reminded Donald Tusk of a promise he made to voters.
Coverage Details
Bias Distribution
- 40% of the sources lean Left, 40% of the sources are Center
Factuality
To view factuality data please Upgrade to Premium
