Banks under the microscope

Poland's parliament has launched a probe into banking supervision and privatization. A 10-member special commission will investigate the capital and ownership transformations as well as the banking supervision operations in the period of June 1989 to March 2006.

According to some constitutional experts, the probe could be illegal. Artur Zawisza, head of the Sejm Economics Commission and a member of Law and Justice (PiS), responds that the commission will only concentrate on the most important and controversial issues. The main opposition party, Civic Platform, said they are considering taking the matter before the Constitutional Tribunal. The party leader, Donald Tusk, announced that should the commission be launched after all, PO will participate in its workings.

The Polish Confederation of Private Employers Lewiatan argues that politicnas launched the commission to restrict the independence of the central bank, especially after the banking regulator expressed its support for the merger of Unicredito's Pekao with BPH, which is opposed by the government. Lewiatan says that the commission undermines free market values. The central bank says that the probe is a "blatant breach" of its independence.

The parties are now considering who will represent them on the commission. PiS leader Jarosław Kaczyński said his party will have at least three members on the commission, with Artur Zawisza  at its head. Self-defense is thinking of proposing Alina Gut, who was once accused of bribery, while Roman Giertych from the League of Polish Families is putting forward a lawyer, Rafał Wiechecki, as his party's representative.