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The staff of the troubled Liberty Częstochowa steelworks in southern Poland received notice on Wednesday of a 40% cut in their August wages amid hopes that a buyer or new leaseholder will come forward before a September deadline, TVPWorld.com. The British-owned mill was declared bankrupt at the request of its creditors on July 25. The new, lower rates of pay will remain in place while a new leaseholder is sought to take control of the century-old mill. The receivers have set a deadline of September 1 for finding a new tenant or beginning the sell-off of its assets.
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Poland’s Finance Minister Andrzej Domanski expects the country will face the European Union’s procedure for its excessive deficit last year, Bloomberg News reported. Domanski told reporters on Monday he hopes the EU’s executive will be lenient in demanding budget cuts because the government needs to increase defense spending. “The procedure will be definitely launched,” he said on the sidelines of a financial congress in Sopot, northern Poland.
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Poland’s ruling coalition said it’s aiming to ensure that the nation avoids a scenario under which the level of government debt breaches a limit imposed by the European Union, Bloomberg News reported. Prime Minister Donald Tusk’s administration is now working on a draft fiscal plan following eight years of Law and Justice government. This year’s budget sees the debt at 54% of gross domestic product, while the Finance Ministry said there is a risk that the level of 60% may be breached in the next few years.
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Lawmakers with Poland’s ruling pro-European Union coalition launched a rare process Tuesday to bring the central bank chief before a special court on allegations of acting against the country’s financial interests, the Associated Press reported. The result could ban him from political life. Critics of the effort suggested that the ruling coalition was going too far in its attempts to reverse the actions of Poland’s previous right-wing government, which were widely seen as undemocratic, and hold those responsible to account.
Poland’s top constitutional court, dominated by judges appointed by the former ruling nationalist, quashed plans by Prime Minister Donald Tusk’s government to try the central bank governor in the latest blow to the new pro-European administration, Bloomberg News reported. Lawmakers can’t suspend Governor Adam Glapinski under parliament’s current rules and would need to pass a law requiring a three-fifths majority for a motion to pass, the same threshold as for cabinet members, Poland’s Constitutional Tribunal ruled on Thursday.
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