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I don't really care about politics or Poland, but Kaminska is awesome so if she's this engaged, I will reward her with my attention. (Same as last time... #1598264, #1417322)

"Independent central bankers are becoming an increasing inconvenience for heavily indebted Western governments."

Yup, this is a frequent talkingpoint in Bitcoinland; wen moon:

With public borrowing mounting and little political appetite for spending cuts, the temptation to pressure monetary authorities into keeping interest rates low, or otherwise making government debt easier to finance, is growing.

LOL, leftism owned:

events in Poland are threatening to turn that narrative on its head in a way that could potentially destabilise the region, if not the wider eurozone. This is because in Warsaw, it is the ostensibly more institutionally minded, pro-European administration of Donald Tusk that is pursuing a central banker associated with the nationalist Right.
And it is the European Central Bank (ECB), having defended the principle of monetary independence against political pressure elsewhere, that may soon find itself having to decide how far that principle extends when the politics are reversed.

BACKGROUND:

Last Friday, a Polish parliamentary committee voted to recommend that Adam Glapiński, the governor of the National Bank of Poland, face the state tribunal because of alleged misconduct. The matter now moves to the full parliament, where a vote could take place in early November.
Glapiński is accused of improperly financing government spending through bond purchases during the pandemic, misleading the finance ministry about the bank’s profits and politicising the institution. He rejects the allegations, arguing that his actions during the pandemic were consistent with the emergency measures adopted by central banks across the developed world.

Fair enough, every central bank did that in some manner (always under the auspices of expert-led, "scientific" monetary policy... stabilizing banking system etc.)

"The dispute has left Poland with competing interpretations of constitutional authority."

My understanding of this supremely intricate and unnecessarily difficult "procedure"/blah-blah dispute is that the (largely left-wing?) government is trying to undermine constitutional separations of power by throwing the central banker under the bus -- and approaching Frankfurt, with Poland (who has its own shitcoin) coming closer to adopting the euro.

Not very sexy; very dull:

Complicating matters further is the expiry of the bank’s remaining deputy governor’s term on Nov 4. Without fresh appointments, its management board could fall below the minimum membership required by law to implement monetary policy, just as the dispute surrounding Glapiński approaches its decisive stage.
Defending him could bring the ECB into conflict with a Polish government whose efforts to restore judicial independence have enjoyed broad European support.

It gets weird when, after spending an age hurling shite at Trump for his lambasting of a central banker, the ECB is in a position to benefit from a similar shoe-on-the-other-foot judicial overhaul by a left-wing prospective eurozone member.


archive: no clue, I tricked it.