Election of Tusk as next EC President makes PLN nervous Polish PMI remains below 50
The zloty got nervous last Friday after Poland´s PM Donald Tusk had been elected as the new EC President replacing Herman van Rompuy on December 1st. Some investors are probably afraid that Tusk´s party, the Civic Platform (PO), need not be able to find an equipollent helmsman. The market-friendly PO is trailing behind the Law and Justice party in opinion polls and Tusk´s appointment hardly improves its chances to maintain power after the next elections in autumn 2015. We expect markets to become increasingly sensitive to opinion poll results in the coming months.
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