Economists have prepared 10 commandments for Slawomir Skrzypek. Analysts ask, demand even, that the new head of the National Bank of Poland, understands that he is the CEO of all Poles. That he is more important than the president even.
Economists have prepared 10 commandments for Slawomir Skrzypek. Analysts ask, demand even, that the new head of the National Bank of Poland, understands that he is the CEO of all Poles. That he is more important than the president even. Therefore they advise him to be careful with his words, listen to some more experienced advisors and be deaf to the suggestions from the politicians. It’s hard to say, however, that Poland’s most important bank official has their trust. He has to deserve it.
The commandments are as follows:
I Your basic obligation is to watch price stability and the value of the zloty
II Inflation is more important than wishes and current needs of anybody, including the highest heads in the state
III Don't start with firing people. Get to know your staff, evaluate them and look at their experience and competences...
IV ... and if you necessarily have to fire people, look at their knowledge and not politics
V You shall make your every step basing on the pillars of independence, transparency, credibility and state-of-the-fact as you promised
VI One un-thought sentence may start panic on the markets and in consequence hit the whole economy. If you don't know what to say, keep quiet.
VII Listen to the Monetary Policy Council and your advisors...
VIII ... and learn. Fill up your knowledge on the theory of economics and monetary policy.
IX Do not waste the scientific work of the central bank, develop its analysis department which is viewed as the most serious and strongest in Poland.
X Change your mobile phone number. Do not give it to PM, nor the president to protect yourself (and the market) from any pressures.