In recent week the current right-wing authoritarian leader was voted out leading to the Polish stock market to react in a very positive way given that the country might return to a pro-democratic government.
The European Union is known for its pro democratic countries but Hungary and Poland had leaned away from that when they elected anti-democratic leaders.
Now that former European Council president Donald Tusk looks set to be Poland’s next prime minister, markets are hopeful that fights between the EU and Poland over judicial independence will be over and that EU funding to the country will be restored.
The stock market rose by 4.3% amid the news and the polish currency saw an increase of 1.8% against the Euro. Time will tell as other countries face similar issues like Hungary had been facing over the years with more authoritarian regimes.
Germany for example has been seen an uptick in far right political parties making headway in two states of the country. Although The far-right Alternative for Germany party, which has risen to second place in national polls behind the Union, won’t be a factor in determining the states’ new governments, as other parties refused to work with it.
Author: Amaury Abreu
