The indictment document
A writer from TVN24, Konrad Piasecki, gained access to a paper that accuses the president of the National Bank of Poland. The letter states that Adam Glapiński was accused of violating the Constitution of Poland and the provisions of the Act in connection with his position or performed authoritative duties.
Konrad Piasecki reported:
These are allegations about what happened inside the institution that the NBP president does not let another members of the Monetary Policy Council and any NBP members to information, there are besides allegations of bonds buying in 2020, but there are besides allegations of bonuses for Adam Glapiński. The power of these charges is very different.
Preliminary charges
The paper is reported to contain 8 main charges against Glapinski.
One of the allegations is that in December 2020 and March 2022 Adam Glapiński took intervention in the currency area without appropriate authorisation from the NBP board. Moreover, any of these activities seemed to aim at weakening the value of the Polish currency.
The president of the NBP besides violated the rule of apoliticalness of the president of the NBP and the ban on public activities that could affect the dignity of his office. He publically engaged in propaganda activities, besides as part of an election campaign, for the Law and Justice political party, while criticizing the Civic Platform party. He gave interviews in which he praised the Council of Ministers, headed by Mateusz Morawiecki, and warned against the possible governments of Donald Tusk.
Between 2020 and 2021, jointly and in agreement with representatives of the Council of Ministers, the Polish improvement Fund, the Bank of the National Holding and certain commercial banks, Glapiński was to chair initiatives concerning the acquisition of treasury securities and certain securities guaranteed by the Polish improvement Fund and Bank Gospodarstwa Krajowego. These actions aimed at indirect financing of the budget deficit and amounted to a full of PLN 144 billion. The related charge is that he carried it all out without appropriate authority from the Monetary Policy Council.
It was expected to be so beautiful.
Glapinski under the Court of State 👏👏👏 pic.twitter.com/BRNOoiHllq
— Beata Skwarska🇵🇱 (@beata_skwarska) March 21, 2024
During the period 2021-2023, according to the content of the Glapiński document, he undertook, accepted and implemented actions contrary to monetary policy assumptions, including the acquisition of assets at a time of rising inflation in 2021 and the simplification of interest rates in 2023 in the context of the electoral campaign, which led to the depreciation of the Polish currency. In addition, he made it hard for any members of the Monetary Policy Council and the National Bank of Poland to fulfil their constitutional and statutory obligations, taking access to papers and manipulating the content of the protocols. On August 23, 2023, as a typical of the NBP, he misled the Finance Minister, providing false information about the projected contribution to the NBP's income budget, despite actual failure forecasts. In addition, he accepted and utilized resolutions allowing the automatic award of 4 quarterly awards, regardless of the results achieved by the NBP and the degree of commitment to the tasks set out in the NBP Act.
Decision and composition of committees
During the Tuesday press conference, Prime Minister Donald Tusk announced that a request was prepared for the appointment of NBP president, Adam Glapiński, to the Court of State.
Placing Glapiński before the Court of State was 1 of the “100 concretes for the first 100 days of government” of the Civic Coalition. The paper states that this will be due to the breach of the independency of the National Bank of Poland and the deficiency of implementation of its main task, namely the fight against inflation.
The right praises Glapinski that he increased the gold reserves to 360 tons. This is the equivalent of PLN 100 billion. This means that in the last 2 years Glapiński has depleted our reserves by 39%, generating a deficit in NBP of PLN 39 billion for the last 2 years. And they don't head at all. pic.twitter.com/BHhYX8BEKV
— national Poland (@PFederalna) March 21, 2024
According to information provided by Virtual Poland, the Sejm Constitutional work Commission, after examining the case and proceeding witnesses, will decide whether to urge the appointment of the president of NBP to the Court of State.
Members of the committee from the Civic Coalition stressed that they took this substance very seriously, while stressing Prime Minister Tusk's announcements. The president of the committee is Zdzisław Gawlik from the Civic Coalition, and the vice-presidents are Iwona Arent from PiS and Dariusz Joński from the Civic Coalition.
