Poland Pressed Over Democracy as Report Fuels Demonstrations (1)
Saturday,12/03/2016|11:30GMTby
Bloomberg News
Poles took to the streets in Warsaw a day after an international constitution watchdog said the government is endangering...
Poles took to the streets in Warsaw a day after an international constitution watchdog said the government is endangering democracy, deepening the country’s worst political standoff with its Western partners since 1989.
Waving flags and chanting “constitution, constitution,” protesters gathered on Saturday in front of the Constitutional Tribunal, the country’s highest court, to oppose what they see as a dismantling of checks and balances in the European Union’s biggest eastern member. The row is part of the conflict over a power grab by the Law & Justice party since its victory in November’s general election. It’s already triggered Standard & Poor’s unprecedented credit downgrade two months ago and led to the EU’s first probe of a member state’s democracy.
The latest wave of protests was sparked by a report from the Venice Commission, a multilateral group charged with overseeing democracy and human rights, which said the overhaul of the country’s top court imperiled the rule of law and called on the government to abide by the court’s rulings.
Kamila Gasiuk-Pihowicz, a lawmaker from the opposition Nowoczesna party, told a rally in front of the court on Saturday that Poles need to act against what she said was an attempt by the current administration to break the constitution.
“Some of us are worried that we’re going to have a dictatorship here,” she told the crowds before the start of a three-hour march through the streets of Warsaw. “Don’t worry. We’re going to win.”
The conflict began after the ruling party revamped the tribunal last year, making it harder for it to overturn laws. It also stacked the court with its own justices, while President Andrzej Duda, a former member of the party, is ignoring a ruling that ordered him to swear in three judges picked by the previous cabinet.
The government will ask parliament to study the Venice Commission’s report and find a solution to the political stalemate, its spokesman Rafal Bochenek told reporters earlier on Saturday. He appealed to the opposition to help resolve the row “through a political dialog and without negative emotions.”
That comes after Law & Justice leader Jaroslaw Kaczynski, who has eschewed a government post to be the power behind the throne, said earlier this week the commission’s critical assessment amounted to “foreign institutions” seeking to undermine Polish “dignity.”
Democratic Dysfunction
In its report released on Friday, the Venice Commission called on the EU’s biggest eastern member to settle its constitutional crisis by respecting judgments of the tribunal. It added that the ruling party’s changes to court procedures “have endangered not only the rule of law but also the functioning of the democratic system.”
The Constitutional Tribunal on Wednesday also ruled that the changes were illegal and breached its independence. In response, Foreign Minister Witold Waszczykowski likened the head of the court, Justice Andrzej Rzeplinski, to an “Ayatollah who is above the law.” The government has dismissed the verdict as a mere “position of a group of justices” rather than a legal ruling. Bochenek repeated that again on Saturday.
A potential EU penalty for infringements on the rule of law is denying Warsaw the right to take part in the bloc’s decisions, but a collapse in relations with Brussels could also have economic implications. Poland is the biggest net beneficiary of the EU budget and is against the bloc’s plans to reduce carbon emissions, which poses a financial risk to its coal power-based industry if it fails to wins concessions.
(Updates with protests from second paragraph.)
To contact the reporters on this story: Marek Strzelecki in Warsaw at mstrzelecki1@bloomberg.net, Piotr Skolimowski in Warsaw at pskolimowski@bloomberg.net. To contact the editors responsible for this story: Balazs Penz at bpenz@bloomberg.net, Wojciech Moskwa, John Deane
Poles took to the streets in Warsaw a day after an international constitution watchdog said the government is endangering democracy, deepening the country’s worst political standoff with its Western partners since 1989.
Waving flags and chanting “constitution, constitution,” protesters gathered on Saturday in front of the Constitutional Tribunal, the country’s highest court, to oppose what they see as a dismantling of checks and balances in the European Union’s biggest eastern member. The row is part of the conflict over a power grab by the Law & Justice party since its victory in November’s general election. It’s already triggered Standard & Poor’s unprecedented credit downgrade two months ago and led to the EU’s first probe of a member state’s democracy.
The latest wave of protests was sparked by a report from the Venice Commission, a multilateral group charged with overseeing democracy and human rights, which said the overhaul of the country’s top court imperiled the rule of law and called on the government to abide by the court’s rulings.
Kamila Gasiuk-Pihowicz, a lawmaker from the opposition Nowoczesna party, told a rally in front of the court on Saturday that Poles need to act against what she said was an attempt by the current administration to break the constitution.
“Some of us are worried that we’re going to have a dictatorship here,” she told the crowds before the start of a three-hour march through the streets of Warsaw. “Don’t worry. We’re going to win.”
The conflict began after the ruling party revamped the tribunal last year, making it harder for it to overturn laws. It also stacked the court with its own justices, while President Andrzej Duda, a former member of the party, is ignoring a ruling that ordered him to swear in three judges picked by the previous cabinet.
The government will ask parliament to study the Venice Commission’s report and find a solution to the political stalemate, its spokesman Rafal Bochenek told reporters earlier on Saturday. He appealed to the opposition to help resolve the row “through a political dialog and without negative emotions.”
That comes after Law & Justice leader Jaroslaw Kaczynski, who has eschewed a government post to be the power behind the throne, said earlier this week the commission’s critical assessment amounted to “foreign institutions” seeking to undermine Polish “dignity.”
Democratic Dysfunction
In its report released on Friday, the Venice Commission called on the EU’s biggest eastern member to settle its constitutional crisis by respecting judgments of the tribunal. It added that the ruling party’s changes to court procedures “have endangered not only the rule of law but also the functioning of the democratic system.”
The Constitutional Tribunal on Wednesday also ruled that the changes were illegal and breached its independence. In response, Foreign Minister Witold Waszczykowski likened the head of the court, Justice Andrzej Rzeplinski, to an “Ayatollah who is above the law.” The government has dismissed the verdict as a mere “position of a group of justices” rather than a legal ruling. Bochenek repeated that again on Saturday.
A potential EU penalty for infringements on the rule of law is denying Warsaw the right to take part in the bloc’s decisions, but a collapse in relations with Brussels could also have economic implications. Poland is the biggest net beneficiary of the EU budget and is against the bloc’s plans to reduce carbon emissions, which poses a financial risk to its coal power-based industry if it fails to wins concessions.
(Updates with protests from second paragraph.)
To contact the reporters on this story: Marek Strzelecki in Warsaw at mstrzelecki1@bloomberg.net, Piotr Skolimowski in Warsaw at pskolimowski@bloomberg.net. To contact the editors responsible for this story: Balazs Penz at bpenz@bloomberg.net, Wojciech Moskwa, John Deane
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In this exclusive Executive Interview, Finance Magnates speaks with Artur Delijergijevs, Head of Systematic Market Making at CMC Markets, about the current state of metals demand and market volatility.
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- Metals Demand: Why metals are seeing the strongest demand from both retail and institutional clients right now.
- The Safe-Haven Debate: Questioning whether gold still fits the classic safe-haven definition given large daily price movements.
- Volatile Market Prep: How a market-making desk prepares its systems and pricing for stressed market conditions and high-impact economic events.
- Hybrid Execution: Why the best execution model combines electronic speed with human relationship support, especially during volatility.
- AI in Workflow: Where CMC Markets is integrating machine learning for risk management and pricing, and the limitations of AI during stressed markets.
- Dubai's Role: The strategic importance of Dubai’s location for covering global trading sessions across Asia, Europe, and the US.
Watch to understand how CMC Markets maintains stable pricing and reliable execution quality in high-volatility environments.
#CMCmarkets #forex #metals #gold #trading #volatility #MarketMaking #iFXDubai #FinanceMagnates #Finance #Fintech #Execution #AlgorithmicTrading #RiskManagement
In this exclusive Executive Interview, Finance Magnates speaks with Artur Delijergijevs, Head of Systematic Market Making at CMC Markets, about the current state of metals demand and market volatility.
Delijergijevs offers a desk-level view on:
- Metals Demand: Why metals are seeing the strongest demand from both retail and institutional clients right now.
- The Safe-Haven Debate: Questioning whether gold still fits the classic safe-haven definition given large daily price movements.
- Volatile Market Prep: How a market-making desk prepares its systems and pricing for stressed market conditions and high-impact economic events.
- Hybrid Execution: Why the best execution model combines electronic speed with human relationship support, especially during volatility.
- AI in Workflow: Where CMC Markets is integrating machine learning for risk management and pricing, and the limitations of AI during stressed markets.
- Dubai's Role: The strategic importance of Dubai’s location for covering global trading sessions across Asia, Europe, and the US.
Watch to understand how CMC Markets maintains stable pricing and reliable execution quality in high-volatility environments.
#CMCmarkets #forex #metals #gold #trading #volatility #MarketMaking #iFXDubai #FinanceMagnates #Finance #Fintech #Execution #AlgorithmicTrading #RiskManagement
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From fintech innovators to leading brokers, this is where the finance industry celebrates its biggest achievements.
Winners will be announced at the Cyprus Gala Dinner on November 6, 2026.
Nominate your brand now.
https://awards.financemagnates.com/?utm_source=linkedin&utm_medium=video&utm_campaign=nominations-open
#FMAwards #FinanceMagnates #FintechAwards #Fintech #FinanceIndustry
The Finance Magnates Awards 2026 nominations are now open. 🏆
From fintech innovators to leading brokers, this is where the finance industry celebrates its biggest achievements.
Winners will be announced at the Cyprus Gala Dinner on November 6, 2026.
Nominate your brand now.
https://awards.financemagnates.com/?utm_source=linkedin&utm_medium=video&utm_campaign=nominations-open
#FMAwards #FinanceMagnates #FintechAwards #Fintech #FinanceIndustry
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Lights on. Cameras ready. 🎬
Finance Magnates Awards 2026 nominations are now open. 🏆
#FMAwards #FinanceMagnates #FintechAwards #Fintech
Lights on. Cameras ready. 🎬
Finance Magnates Awards 2026 nominations are now open. 🏆
#FMAwards #FinanceMagnates #FintechAwards #Fintech
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* Why Dubai and the MENA region are critical growth markets for fintech and online trading.
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* The essential role local talent plays in providing a culturally relevant and compliant user experience.
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➡️ The MENA region is rapidly shaping global financial markets.
➡️ New traders expect stability, precise execution, and transparency.
➡️ Local expertise is key to regulatory compliance and user experience.
➡️ Future success belongs to firms capable of meeting rising standards across regulation and platform consistency.
Read the full article at: https://www.financemagnates.com/thought-leadership/exness-sees-trust-as-the-key-theme-for-growth-in-mena-trading-growth-for-2026/
#Exness #MENA #Trading #FinTech #Dubai #OnlineTrading #FinanceMagnates #MohammadAmer #Trust #MobileTrading
Mohammad Amer, Regional Commercial Director at Exness, sits down to discuss the booming MENA financial trading market. Find out why Dubai is key to the company's growth strategy, how a mobile-first generation is changing expectations, and why trust will be the defining theme for traders in 2026.
In this interview, you'll learn:
* Why Dubai and the MENA region are critical growth markets for fintech and online trading.
* How Exness is addressing the demands of mobile-first, younger traders through engineering, platform stability, and transparent conditions.
* The essential role local talent plays in providing a culturally relevant and compliant user experience.
* Mohammad Amer's outlook on the future of the online trading industry and why stronger controls and systems are necessary.
* Why "trust" isn't just a brand value, but has commercial value—and why he predicts 2026 will be the "Year of Trust."
Key Takeaways:
➡️ The MENA region is rapidly shaping global financial markets.
➡️ New traders expect stability, precise execution, and transparency.
➡️ Local expertise is key to regulatory compliance and user experience.
➡️ Future success belongs to firms capable of meeting rising standards across regulation and platform consistency.
Read the full article at: https://www.financemagnates.com/thought-leadership/exness-sees-trust-as-the-key-theme-for-growth-in-mena-trading-growth-for-2026/
#Exness #MENA #Trading #FinTech #Dubai #OnlineTrading #FinanceMagnates #MohammadAmer #Trust #MobileTrading
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#PaymentOrchestration #Fintech #Brokerage #TradingPayments #RaziSalih #Paytiko #iFXExpoDubai #Stablecoins #AIinFintech
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Mr. Salih explains how global expansion, the need for deep localisation, and the sheer number of new payment methods, from instant banking to stablecoins, are driving this critical infrastructure shift.
#PaymentOrchestration #Fintech #Brokerage #TradingPayments #RaziSalih #Paytiko #iFXExpoDubai #Stablecoins #AIinFintech