The Fort Worth Press - Poland vows to ensure EU defence funding after presidential veto

USD -
AED 3.672501
AFN 65.476319
ALL 80.577087
AMD 365.860022
ANG 1.789783
AOA 917.000049
ARS 1491.641402
AUD 1.41719
AWG 1.80125
AZN 1.697547
BAM 1.696734
BBD 2.015728
BDT 122.843622
BGN 1.696366
BHD 0.377075
BIF 2998
BMD 1
BND 1.280933
BOB 11.734342
BRL 5.209199
BSD 1.000794
BTN 95.468406
BWP 13.472141
BYN 3.009929
BYR 19600
BZD 2.012779
CAD 1.393785
CDF 2273.000256
CHF 0.813435
CLF 0.023231
CLP 914.290229
CNY 6.743198
CNH 6.745195
COP 3125.44
CRC 449.393362
CUC 1
CUP 26.5
CVE 96.097828
CZK 21.014198
DJF 178.218681
DKK 6.484485
DOP 58.508892
DZD 132.931669
EGP 50.176501
ERN 15
ETB 161.890385
EUR 0.86745
FJD 2.21445
FKP 0.740201
GBP 0.741685
GEL 2.610218
GGP 0.740201
GHS 11.074982
GIP 0.740201
GMD 73.501678
GNF 8774.999914
GTQ 7.628599
GYD 209.38434
HKD 7.84715
HNL 26.830633
HRK 6.535402
HTG 130.904201
HUF 315.257502
IDR 17864
ILS 2.962965
IMP 0.740201
INR 95.43215
IQD 1311.025996
IRR 1374587.497717
ISK 123.34037
JEP 0.740201
JMD 158.336044
JOD 0.708968
JPY 159.5095
KES 129.495898
KGS 87.449705
KHR 4047.49823
KMF 426.999894
KPW 900.000294
KRW 1418.620493
KWD 0.30861
KYD 0.834053
KZT 465.738688
LAK 22580.225386
LBP 89621.102036
LKR 333.612392
LRD 181.645463
LSL 16.144844
LTL 2.95274
LVL 0.604889
LYD 6.374682
MAD 9.270009
MDL 17.373275
MGA 4310.91697
MKD 53.37538
MMK 2099.846019
MNT 3597.969266
MOP 8.08894
MRU 40.105493
MUR 47.149798
MVR 15.460087
MWK 1735.471585
MXN 17.04444
MYR 4.086397
MZN 63.900861
NAD 16.144914
NGN 1360.849945
NIO 36.82706
NOK 9.513135
NPR 152.752101
NZD 1.71006
OMR 0.384513
PAB 1.000794
PEN 3.377159
PGK 4.42879
PHP 61.374501
PKR 277.795321
PLN 3.7389
PYG 5973.01084
QAR 3.635016
RON 4.547598
RSD 101.752974
RUB 83.076096
RWF 1474.223003
SAR 3.743113
SBD 8.064941
SCR 14.023536
SDG 600.498289
SEK 9.568698
SGD 1.28072
SHP 0.740866
SLE 24.550085
SLL 20969.499227
SOS 571.973887
SRD 37.722498
STD 20697.981008
STN 21.254723
SVC 8.756946
SYP 13001.999906
SZL 16.149252
THB 33.194033
TJS 9.247366
TMT 3.5
TND 2.934571
TOP 2.40776
TRY 47.773796
TTD 6.786763
TWD 32.126993
TZS 2645.502939
UAH 44.737671
UGX 3715.737009
UYU 40.062929
UZS 11954.697077
VES 765.397601
VND 26075
VUV 118.594628
WST 2.730779
XAF 569.073676
XAG 0.015463
XAU 0.000229
XCD 2.70255
XCG 1.803702
XDR 0.707757
XOF 569.06874
XPF 103.462785
YER 237.149877
ZAR 16.21045
ZMK 9001.20247
ZMW 18.815201
ZWL 321.999592
  • RBGPF

    0.0000

    72.16

    0%

  • CMSC

    0.0250

    21.475

    +0.12%

  • GSK

    0.1500

    50.45

    +0.3%

  • NGG

    0.5200

    81.2

    +0.64%

  • BCE

    0.1900

    23.32

    +0.81%

  • CMSD

    0.0000

    21.59

    0%

  • AZN

    -1.2600

    157.24

    -0.8%

  • RYCEF

    0.1700

    20.71

    +0.82%

  • BTI

    1.5100

    57.35

    +2.63%

  • RELX

    0.1200

    34.67

    +0.35%

  • BP

    -0.1000

    42.83

    -0.23%

  • BCC

    -0.1200

    84.13

    -0.14%

  • RIO

    -3.0200

    98.2

    -3.08%

  • VOD

    0.1300

    16.22

    +0.8%

  • JRI

    -0.0300

    12.68

    -0.24%

Poland vows to ensure EU defence funding after presidential veto
Poland vows to ensure EU defence funding after presidential veto / Photo: © AFP

Poland vows to ensure EU defence funding after presidential veto

Poland's centrist government on Friday unveiled a "Plan B" for financing the modernisation of its military and arms industry, after nationalist President Karol Nawrocki's veto of nearly 44 billion euros in European loans.

Text size:

Lawmakers in Poland, the largest country on NATO's eastern flank, last month backed the Security Action For Europe (SAFE) scheme, as war rages in neighbouring Ukraine.

SAFE earmarks funds for air and missile defences, anti-drone technology and other equipment, but the president's veto dealt a major blow to these plans.

The government said Friday it would ensure SAFE funding makes its way to Poland, albeit under more complex arrangements.

Conservative-nationalist Nawrocki, in a televised address explaining his decision Thursday, said the European funding "undermines our sovereignty, our independence, as well as our economic and military security".

- SAFE's main beneficiary -

The SAFE loan scheme was developed by European countries seeking to reinvigorate their defence industry to face the Russian threat and respond to the risk of US disengagement from Europe.

The fund makes some 150 billion euros available in the form of preferential loans to finance joint projects in defence, the purchase of weapons or ammunition, and the development of critical infrastructure.

Since Poland borders Russia, Belarus and Ukraine, it has been tasked with building part of the EU's and NATO's "eastern shield".

The programme's main recipient, it had been set to receive 43.73 billion euros from the total envelope before Nawrocki's veto.

- 'Turbocharge' or Trojan horse -

Polish Prime Minister Donald Tusk, a former president of the European Council who has worked to restore Poland's relationship with Brussels, claims authorship over SAFE.

He says he persuaded European partners to provide funding to help Poland fortify his borders.

With the coalition government, he argues that the loan scheme will also "turbocharge" the Polish economy, and benefit about 12,000 Polish companies.

But Nawrocki and the rest of the conservative-nationalist opposition are hostile to Brussels.

They argued SAFE would allow EU bureaucrats and Germany -- an eternal bogeyman on the Polish right -- to steer Warsaw's strategic choices.

The right also fears that SAFE would alienate a key Polish ally in Washington by prioritising European arms purchases at the expense of American suppliers.

- Political points -

With just over a year to go before Poland's next parliamentary elections, the nationalist Law and Justice (PiS) party is polling poorly. Analysts have argued Nawrocki vetoed the bill to score political points.

The President's critics say characterise him as a "veto machine" unwilling to compromise, even in the face of criticism from the public.

A poll by Poland's Centre for Public Opinion Research suggested that the government's SAFE plan was backed by 52 percent of Poles, with only 35 percent opposed.

Many of the Polish companies who stood to benefit from the scheme are located in the countryside and smaller cities, where the right's electoral base is strongest.

Some analysts argue that Nawrocki and his party do not want the ruling coalition to gain ground there.

- President's alternative -

Rather than back the SAFE proposal, Nawrocki insisted on his own alternative, "SAFE 0%", drawn up with another PiS ally, Central Bank Governor Adam Glapinski.

Described as a "sovereign" alternative to the European loans, the programme would instead use central bank funds.

The president argued this would remove the burden of interest payments and debt.

Critics however say the plan could carry unforeseen costs, as it is based on speculating with the proceeds of gold sales from the central bank's reserves.

The government denounced the presidential veto as a "betrayal" of Poland and its security interests.

"Every soldier, when he gets a new tank, a new rifle, a new drone, an anti-drone system to counter Russian drones, will have to remember who didn't want to give it to him," Foreign Minister Radoslaw Sikorski said Friday.

Warsaw's use of SAFE funds will now have to pass by another route, the Armed Forces Support Fund, but the process will be longer, more restrictive, and more expensive.

But Prime Minister Donald Tusk insisted Friday: "The president’s veto will not stop us."

And Thomas Regnier, a European Commission spokesman, said Friday: "We're fully committed to the Polish national plan. We look forward to implementing it without delays."

K.Ibarra--TFWP