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Zygierewicz, Mariusz


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1 article of this author has been cited in the European Press Review so far.


Gazeta Wyborcza - Poland | 07/06/2012

Proposal leaves too many open questions

Banks need to be subject to stricter control, writes Mariusz Zygierewicz, the head of the Polish bank association ZBP, in a commentary for the liberal daily Gazeta Wyborcza. However he criticises several individual proposals put forward by the EU Commission: "These include first of all the right of the financial supervisory authority to intervene early. Among other alternatives it will have the option of appointing special board members. I can understand the Commission's intentions. Nevertheless they risk having the authority intervene far too soon, and it could lead to the effective disappropriation of the bank and its shareholders. Banks would then be dependent on the clemency of the supervisory authority. The second problem is that in the event of a 'bail-in' [participation of creditors in the costs of a bailout], a bank's debts may be converted into shares. But the criteria for such a move have yet to be established."

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