Belka: Moody's decision will not be devastating for Poland

"Moody's eventual decision on reducing Poland's raitings will not have a potential drama," proclaimed Marek Belka, Head of National Bank of Poland, during the RPP conference. According to him, any downgrade or change in outlook without switching the category would not be a positive factor, but it would not be devastating as well due to the stable and sustainable Polish economy. On Monday, raiting agency Moody's warned Poland is facing heightened political risk as a result of its constitutional crisis, triggered by a struggle over the appointment of Constitutional Court judges and by controversial new legislation that limits the Court’s powers. "These developments may impair Poland’s attractiveness for foreign investors," it said in a report.