Hopes for better ties with Brussels grow
Donald Tusk, leader of the largest opposition grouping Civic Coalition , speaks after the exit poll results are announced in Warsaw, Poland, Oct. 15.If officially confirmed, the result would pivotally change Warsaw, which has fought with the European Union over the rule of law, media freedom, migration and LGBT rights since the current conservative nationalist Law and Justice government came to power in 2015.
Daniel Moreno, head of emerging markets debt at investment firm Mirabaud, explained: “It will be a positive development for sure because it will unlock the money that has been withheld and reduce a lot of the tension that has been created with Brussels”. The 66-year old Tusk and his pro-EU coalition allies may still have to wait weeks or even months though before getting a turn at forming a government.
Tusk will not instantly unlock the 35 billion euros in post-pandemic grants and loans that Brussels froze in May 2021 due to concerns about political influence of top judges. Ahead of Sunday’s election, rating agency Fitch was forecasting a whopping 5.3% budget deficit this year.
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