Is the President swinging round to support release of NBP reserves?

President Kwaśniewski on Thursday offered to host peace talks between the government and the central bank to end their row over its paper provision against exchange rate risks. The Finance Ministry wants to release between one-third and two-thirds of the central bank's zł. 27 billion revaluation reserve to help the budget bear additional costs linked to EU accession next year. But the National Bank of Poland argues the move would amount to printing money, which could destabilize the economy by stirring inflation. "The Presidential Palace is the best place for the two sides to meet and work out a common stance," Kwaśniewski told a news conference. "I have been reassured that both sides are ready for the talks," he added. The President's economic adviser, Witold Orłowski, believes that up to one third of the reserve could be "cautiously and gradually" released for government use. (Reuters) A.K.