SKOK should remain being covered by banking sector guarantees - Morawiecki

Poland will keep banking sector guarantees for the troubled credit unions (SKOK), according to Deputy PM Mateusz Morawiecki. “I would not be in favor of such solutions,” Morawiecki said, adding that the unions are “in good shape.” His words come after banking market lobby ZBP said that credit unions should be excluded from the guarantee system calling it “unfair, and hurting bank’s ability to finance economy.” There is a significant amount of SKOK credit unions that filed for bankruptcy in recent years, including at least three in 2017.