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Poland's central bank head criticizes Europe's banking union plans
May 21, 2014 / 9:47 AM / 3 years ago

Poland's central bank head criticizes Europe's banking union plans

LONDON, May 21 (Reuters) - Poland’s central bank governor Marek Belka criticized Europe’s plans for a banking union on Wednesday, saying non-euro zone countries would be disadvantaged and have little influence over key decisions.

Belka said there were other parts of the plans that his country and countries like Sweden did not like and that Poland certainly would not be rushing to join the setup which is due to start at the end of the year.

“There is the argument that the non-euro countries will not be treated the same,” Belka said at a Polish-British forum.

“Non-euro zone countries will not have access to the liquidity of the European Central Bank... this is a fundamental problem.”

“The final decisions will by taken by the EU, by the ECB basically,” he added. (Reporting by Marc Jones and Carolyn Cohn; Editing by Janet Lawrence)

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