S & P lowers rating of Poland and evokes “sag … – The Tribune.fr

The rating agency Standard and Poor’s (SP) lowered a notch Friday the long-term rating in Poland Currency “BBB +” saying that several laws passed by the Conservative government had led to a “weakening of key institutions.”

The note is accompanied by a “negative outlook” , meaning that the SP could lower again country score “in the next 24 months” if public spending and monetary policy deteriorated, the agency said in a statement.

Standard and Poor’s explains its decision by the judgment as it relates to the consequences of the reforms introduced by the conservative Law and Justice party (PiS), Jaroslaw Kaczynski, which has an absolute majority in both houses of parliament.

“The decline reflects our opinion that the system of checks and balances has been significantly institutional eroded, while the independence and effectiveness of key institutions are weakened by various legislative measures initiated since the parliamentary elections of October 2015 “said the agency.

The Constitutional Court loses its independence

It evokes the weakening ” the ability of the Constitutional Court in order to work effective and independent “ and the new media law which it says gives the government the authority to appoint and control their leaders.

” While the absolute majority PiS removed the fears of increased political instability resulting from fragile coalition arrangements, we expect significant frictions persist between the PiS and the opposition “, writes SP.

The Polish Finance Ministry issued a brief statement saying that he would comment the SP decision after having read the notes of other agencies, whose publication is expected on Friday.

Brussels also developing its complaints against Warsaw

The announcement comes just days after the announcement by the European Union for a preliminary inquiry against the Polish government. Brussels accuses Warsaw have started legislative reforms that infringe certain fundamental freedoms but also to respect for the rule of law. Thus, the government wants to rein in the Constitutional Court by installing it appointed judges, but also the media by granting a right of the public media appointments.