What Happens When the Party is Over? The Impact of New Introduction Right Parties in Government on FDI regulation Roger Schoenman “Currently, 95 percent of wholesale and retail trade belongs to foreign capital, until recently
[email protected] over 70 percent of the banking sector belonged to foreign banks. Repolonization is, thus, necessary.” Then Polish Deputy PM, now PM Matuesz Morawiecki, May 17, 2017. (Redakcja Word Count without bibliography: 10,128 2017). Version date: 4/30/19 “We need foreign investment, and we must never underrate the jobs which have been created, but we must recognize that they will no longer be the source of competitiveness.” Hungarian Prime Minister Viktor Orban November 10, 2016 speech in Budapest. “I believe there is no national sovereignty without a national financial system.” Hungarian Prime Minister Viktor Orban in a November 2014 radio interview. “I appreciate the process of Polonization of banks sponsored by prominent persons. In the 1990s people who said that banks should be largely in Polish hands were regarded as deviants. A few years ago we learned that capital, however, has nationality and I understand that these processes, which are starting in Poland now, are a derivative of understanding this new situation. It is a pity that it is so late, but better late than never.” Zbigniew Kuźmiuk of Law and Justice (PiS) told newseria.pl in July 29, 2015. “Foreign Investors will be welcomed with open arms, however they must expect to no longer be treated in a privileged way as was the case until now, but will compete with Polish firms under fairer regulation,” -Jaroslaw Gowin, one of the Poland’s deputy prime ministers.