Glapiński should not be held responsible for political reasons. NBP statement

“(…) the president of the central bank should not be held politically responsible through proceedings initiated and conducted by politicians, both due to the very existence of such regulations, which may have a particular chilling effect, and due to their potential application. This is because it is in conflict with the rule of independence of the central bank resulting from the Constitution of the Republic of Poland and the law of the European Union,” the NBP said in a statement.

This concerns the preliminary motion for the TS for the President of the National Bank of Poland, Adam Glapiński, submitted to the Sejm Szymon Holownia at the end of May, for processing by the Constitutional Accountability Commission.

“For the reasons briefly mentioned, the submission of the initial motion should be regarded as an instrumental use of the constitutional accountability procedure, and the conduct of the proceedings in its subject matter by the Constitutional Accountability Committee – as an event that should not take place in principle,” the NBP statement read.

According to the central bank, the negative assessment is additionally confirmed by two further circumstances. “Firstly, in light of the analyses of the Chancellery of the Sejm, the initial application contains formal deficiencies that have not been supplemented and should automatically result in no further action being taken in this case,” it was reported.

Secondly, the main content of the preliminary motion refers, in the NBP's opinion, to alleged events concerning tasks performed by the collegial bodies of the National Bank of Poland, i.e. by the Monetary Policy Council and the NBP Management Board – and not by the NBP President alone. “The Constitution of the Republic of Poland and the Act on the State Tribunal do not provide for the constitutional liability of Members of the Monetary Policy Council or Members of the NBP Management Board, which means that there are no grounds for constitutional liability for joint action within these bodies, within the scope of exercising their collegial competences, including for the actions of the NBP President as a person belonging to these bodies. The above means that the proceedings on constitutional liability should not be initiated at all. The preliminary motion remains defective for systemic, procedural and structural reasons,” it added.

– The implementation of the statutory powers of the Constitutional Accountability Commission in relation to the President of the NBP and the employees of this bank may paralyze the work of this bank – said Glapiński in a statement posted on the NBP YouTube channel.

– The procedure implemented by politicians aimed at dismissing the president of the central bank may lead to the creation of a dangerous precedent, especially in Poland, but also on an international scale, in terms of drastic questioning of the principle of independence of central banks developed over the years, in particular personal and functional independence – he added.

In the opinion of the President of the National Bank of Poland, the instrumental use of the constitutional accountability procedure constitutes an abuse of law.

– This should not take place in a democratic state governed by the rule of law, it leads to the degradation of the institutions of the Polish state and weakens its foundations – said the President of the National Bank of Poland.

– This is an unprecedented action, unique on a global scale, which will have a long-term negative impact on the perception of Poland in relations with foreign countries – he assessed.

Glapiński appealed for deep consideration and abandonment of actions which, in his opinion, are of a purely political nature, objectively unjustified and harmful.

On Thursday, a meeting of the Sejm's Constitutional Accountability Committee was held to establish a schedule for work on the preliminary application to the State Tribunal for the President of the National Bank of Poland, Adam Glapiński.

The next hearing is scheduled for September 24, when the first witnesses will be called.

A group of MPs from the ruling coalition accused the NBP president of violating the constitution and laws, including through indirect financing budget deficit as part of the asset purchases in 2020-2021, conducting this purchase without “due authorization” from the Monetary Policy Council and by failing to comply with the order of the NBP President to remain apolitical. In the opinion of the NBP Management Board members, this motion is an attempt to violate the independence of the Polish central bank.

In its statement, NBP responds in detail to each of the allegations.