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The Warsaw Voice » Business » September 2, 2014
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Markets expected to be neutral on Tusk move to Brussels
September 2, 2014   
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The reaction of Poland's financial markets to the choice of Prime Minister Donald Tusk as the next European Council president will likely be neutral or slightly positive, the PAP news agency has reported.

Experts expect the economic policy pursued by the current administration to continue under a new government after Tusk resigns as prime minister and heads off to Brussels, according to PAP.

"The country's economic policy line, including further fiscal easing, should be maintained," mBank chief economist Ernest Pytlarczyk told PAP.

He added: "Tusk's presence in Brussels will certainly increase pressure on Poland to join the eurozone as soon as possible. And that will translate into yield declines on the long end of the curve on our debt market. So it can be assumed that buying long-end T-bonds will be a good strategy right now."

Deutsche Bank chief economist Arkadiusz Krzesniak said the choice of Tusk for the key EU job "may be even received rather positively by the markets."

"I think the political scene will remain stable," he added. "As far as a new candidate for PM is concerned, it is possible that [Tusk's party] the PO will go for a technocrat PM, a similar maneuver as in the case of Finance Minister Mateusz Szczurek. Certainly the new PM and the new government will continue the economic policy line pursued so far."

PBP bank economist Ignacy Morawski said: "I think that Tusk's transfer from Warsaw to Brussels will be completely neutral for Poland's perception abroad. In broad terms, political stability will be maintained."
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