Polish president vetoes EU defence loan bill
The Straits Times
WARSAW, March 12 - Poland's president said on Thursday that he would not sign legislation creating a mechanism to spend 43.7 billion euros ($50.30 billion) in European Union loans to boost the military, triggering condemnation from the government. Read more at straitstimes.com.
WARSAW, March 12 - Poland's president said on Thursday that he would not sign legislation creating a mechanism to spend 43.7 billion euros ($50.30 billion) in European Union loans to boost the military, triggering condemnation from the government.
The clash between nationalist President Karol Nawrocki and the pro-EU government of Prime Minister Donald Tusk over the 150 billion-euro Security Action for Europe initiative is the latest example of the deep divisions complicating policymaking at Poland's highest levels of state.
"The SAFE mechanism is a massive foreign loan taken out for 45 years in a foreign currency, with interest costs that could reach up to 180 billion zlotys," Nawrocki said in a televised address to the nation.
"Poles will therefore have to repay twice the value of the loan, while Western banks and financial institutions will profit from it."
He added that Brussels could halt the payout of funds arbitrarily through deploying conditionality rules, thus limiting Poland's sovereignty, and questioned its constitutionality.
"Poland's security cannot depend on foreign decisions," he said.












