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The Warsaw Voice » Business » December 22, 2017
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EC decision will not hit markets
December 22, 2017   
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Poland will be unaffected short term by European Commission's decision to launch Article 7 proceedings against the country, analysts cited by leading Polish newspapers believe.
The zloty may take a minor hit after appreciating in the recent days but the approaching Christmas period makes any major changes unlikely, currency exchange portal Waluteo chief analyst Marcin Kiepas said.
The EC's decision was expected and the risk of sanctions remains low, Raiffeisen Bank analyst Wojciech Stepien adds.
Rating agencies also seem unworried, but remark that Poland's creditworthiness could suffer if investors start to lose trust in the country.
The Article 7 procedure will be lengthy and its impact on Poland's FDI inflow, investment climate and EU fund allocation is difficult to predict, Credit Agricole chief economist in Poland Jakub Borowski commented on Twitter.
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