Will the banking crisis affect Poland? Squirrel comments

Marek Belka was the guest of RMF FM on Monday. The former prime minister as well as the former head of the central bank was asked, for example. whether the banking crisis in the US and Switzerland will affect the situation in Poland.

Marek Belka on the impact of the banking crisis on Poland

- Fortunately, we, perhaps, do not have to be afraid of a direct blow, although this is an alarming bell. It turns out that even highly capitalized banks, ie. those with a significant buffer of their own funds are vulnerable. Many violations, even in the largest banks, are detected and require unprecedented resources to eliminate them - Belka emphasized. – Fortunately, it fell on Switzerland, at most the franc exchange rate will weaken a little – added.

The former head of government stressed that Poles do not need to worry about their savings. At the same time, he noted that this is a hint to those in power. - Don’t play with fire. In other words, the Polish banking system seems to be very stable, but as it turns out, nothing is impossible today. If we fiddle too much with banks, we might get in trouble too - explained the member of the European Parliament.

The end of the crisis?

The former NBP president was also asked if a takeover of Credit Suisse by another giant, UBS, would end the crisis. “As for the two largest Swiss banks, I think it helps. On the other hand, inflation, forcing interest rates to rise, creates certain dangers - Belka said.

– The fact is that rising interest rates reduce the market value of many assets, especially government bonds. Those banks that have a lot of bonds lose a lot, ours too - added.