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Polish President Vetoes Eu Defence Loan Bill
President Nawrocki vetoed the EU's €43.7 billion military loan mechanism citing debt and sovereignty concerns, proposing central bank gold profits as an alternative funding source.
- On March 12, 2026, the president of Poland vetoed legislation to create a mechanism to spend 43.7 billion euros in EU loans, prompting government condemnation and an extraordinary council on Friday.
- Proposing an alternative, Nawrocki and Adam Glapiński suggested using unrealised profits from the National Bank of Poland's gold reserves to finance military spending, citing risks of the SAFE-funded mechanism.
- Law and Justice called SAFE a 'German plot', while Tusk's government says its cheap financing is essential for Poland's security, with Nawrocki warning it could cost up to 180 billion zlotys.
- Facing the veto, Tusk's administration signalled it will seek alternatives as Nawrocki's bill is unlikely to be approved by parliament, where Tusk's coalition holds a majority.
- The dispute now underscores deep institutional divisions between the presidency and the government, with Adam Glapiński, Central Bank Governor, saying officials have 'zero interest' in the National Bank of Poland gold-reserve funding idea.
57 Articles
57 Articles
The EU wants to support its member states through arms credits. Poland's nationalist President Karol Nawrocki sees this as a threat to Poland's sovereignty.
Polish President Nawrocki has vetoed a bill that would allow Poland to borrow €44 billion from the European Union. The money was intended to strengthen Poland's defense. Nawrocki doesn't want Poland to accept the loan, fearing it would increase his dependence on Brussels. EU member states can borrow money from the European Union on favorable terms for defense projects. The fund contains €150 billion. Poland would borrow the largest amount, €44 b…
Observador
Noticias ao Minuto"I will never sign a law that violates our sovereignty, our independence and our economic and military security," Nawrocki says, preferring to use national resources to invest in the Defence.
Poland wanted to invest 44 billion euros from a low-interest EU loan in its defence. But now the European-critical President Nawrocki has vetoed it - and presented his own plan.[more]]>
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