Poland’s Leaders Move to Weaken Currency, Then Die in Plane Crash
There’s no telling if the two events are connected, but their timing is mighty interesting.
The Polish government and the National Bank of Poland, in a “rare moment of unity,” agree to weaken Poland’s currency, the zloty, in an act that would benefit Poland’s exporters at the expense of Poland’s trading partners—that is, the European Union, among others. Then, the next day, Poland’s president and the president of its national bank die in a plane crash.
From the Wall Street Journal in an item dated April 9, 2010:
In one of those rare moments of unity, the National Bank of Poland and the Polish government agreed on the need to weaken the Polish zloty, which over recent weeks has rebounded close to its pre-crisis strength. The currency’s strength is now seen a possible threat to economic recovery. After several verbal interventions over the past few days, the central bank intervened with real money Friday, for the first time in more than a decade.
The bank followed through on its Thursday warnings that it is “technologically and psychologically” prepared to enter the currency market to prevent “excessive strengthening of the zloty.” Government officials also said earlier this week that the “strong zloty” is damaging growth and, after Friday’s intervention, said they fully back the central bank’s move.
In moving to weaken the zloty, Poland’s leadership was placing the interests of the people of Poland ahead of the interests of the European collective known as the European Union.
Then, the next day, the president of Poland dies in a plane crash along with numerous other top leaders, including the president of the National Bank. From the Mail Online:
Polish president Lech Kaczynski and his wife Maria have been killed after their plane crashed on approach to Smolensk airport in western Russia.
Russian news agencies reported at least 87 people died in the crash near Smolensk airport in western Russia, citing the Russian Emergencies Ministry. They reported 132 people were aboard the Tupolev Tu-154.
The Army chief of staff, Gen. Franciszek Gagor, National Bank President Slawomir Skrzypek and Deputy Foreign Minister Andrzej Kremer were on the passenger list.
Poland has been dragging its feet in adopting the euro and joining the European Union, having pushed back its target date for doing so until 2015. Here in the U.S., we might say that Poland is not a “team player.” In the New World Order, bad things tend to happen to leaders who aren’t team players.