Polish Parliament Approves Pension-Fund Revamp to Cancel Bonds
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Polish lawmakers today approved the takeover and cancellation of government bonds held by privately managed pension funds, allowing the cabinet to cut state debt and gain leeway for public spending.
Lawmakers in the 460-seat Sejm, the lower house of parliament, voted 232-216 in favor of the changes, with one abstention. The draft law must still be approved by the Senate and signed by President Bronislaw Komorowski, who may direct it for legal review to Poland’s Constitutional Tribunal.