Poland Minister Says ‘Suicidal’ to Vote Down EU Relief Fund: FT
(Bloomberg) -- Poland’s finance minister wants political parties to vote in favor of a European Union pandemic relief package as the country will miss out on a cheap financing option to bolster the economy by failing to do so, the Financial Times reported.
Tadeusz Koscinski, who was appointed finance minister by the ruling Law and Justice party, told the newspaper it would be “a bit of a suicidal move” to vote against ratifying the recovery fund in parliament as Poland “won’t be able to source such funds outside the EU” and “at that price as well.”
His comments come as the ruling party is at odds with one of its partners, United Poland, over the 750 billion euro ($892 billion) recovery fund. This coalition member has said the package allows for the bloc to issue its own debt and that it isn’t in Poland’s interest to co-sign liabilities for other EU member states with weaker economies.
While it is unlikely that Poland won’t pass the deal -- which needs all member states to ratify in order to enter into force -- the dispute has underscored divisions in the ruling alliance that have been widening since it won re-election in 2019.
Poland’s parliament meets on April 14. If the recovery fund is ratified, Poland stands to get 58.1 billion euros.
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