Friday, September 29, 2023

Major opposition party borrowed large amount of money from German bank

Niezalezna(.)pl: On September 7, the Civic Platform (PO),  the largest opposition party secretly*  supported by Germany and the EU, borrowed PLN 25 million ($4.3M) at mBank. The majority shareholder of this bank is the German Commerzbank AG, whose largest shareholder is, in turn,... the German government.

Commerzbank's close ties with the authorities in Berlin are also proven by the fact that the head of the bank's supervisory board is Jens Weidmann, who was an advisor to Chancellor Angela Merkel for six years - from 2006 to 2011 . In the next decade, from 2011 to 2021, Weidmann headed the German Federal Bank, the equivalent of our National Bank.

The president of the management board of Commerzbank is Manfred Knor. In December 2022, he gave an interview to the newspaper "Die Welt", in which he criticized the actions of the "nationalist government in Warsaw" regarding the banking sector in Poland. Condemning "extraordinary political interventions in Poland", including the introduction of loan holidays for Poles.

This is a second such loan to PO from from mBank. In December 2022, PO took out a working capital loan from that bank for PLN 10 million ($2.5M).