Poland Elects Eurosceptic Party in Latest Elections

Poland’s euroskeptic Law and Justice party (PiS) claimed victory on Sunday in a watershed election that risks putting the ex-communist state on a collision course with key European Union allies.

Run by Jaroslaw Kaczynski, the twin brother of Poland’s late president Lech, PiS secured 39.1 percent of the vote, enough to govern alone and well ahead of the incumbent, staunchly pro-EU Civic Platform (PO) at 23.4 percent, said pollster Ipsos.

If the exit poll is correct, the victory by PiS would be the biggest in terms of seats by a single party since Poland held free elections after shedding communism in 1989 — marking a decisive swing to its brand of social conservatism mixed with left-leaning economics in the country of 38 million people.

It would also be the first time that the socialist grouping that grew out of the pre-1989 communist party failed to win seats in parliament.

A triumphant Kaczynski, whose party immediately signaled plans to reap new revenues from next year with a tax on bank assets, declared victory.

via CNBC

Alfonso Esparza

Alfonso Esparza

Senior Currency Analyst at Market Pulse
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza