On A Knife Edge

June 2004 | Market Strategy

The third and final parliamentary vote of confidence in Prime Minister Marek Belka's administration is drawing closer - Speaker Jozef Oleksy has mooted bring it forward to between 15-18 March. The question remains, however, as to what happens next. If Belka does gain a majority whilst maintaining his pro-market policies, all well and good. The door would then be open for a pan-asset class rally, as the implementation of Economy Minister Jerzy Hausner's fiscal austerity plan is undertaken and the government works towards meeting its PLN38.8bn budget deficit target for 2005. If Belka falters, however, Hausner's package would hang in

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