Poland's Central Bank Governor: Leaked Tape is a Cooked Up Narrative and Difficult to Fight

Polish central bank governor Marek Belka has descibed a leaked tape recording in which he can be heard discussing the removal of the country's finance minister, as well as using profanity when describing senior bank colleagues, as "a cooked up narrative".

In a TV interview with CNBC, the embattled central banker added that he sees no reason to step down, and that the recording was "more like a lecture" from an economist to someone about the country's financial situation.

Asked if he was forging a deal with the government to remove the then finance minister Jacek Rostowski, Belka said: "Once you get eavesdropped [on], this is by itself a very unpleasant thing because of your colourful language, so to say, but also the person who is doing this [leaking the tape] does not know a bit about what the conversation is about."

"So what we get, and this is exactly what happened, is a cooked up narrative, that is very difficult to fight."

Poland's Prime Minister Donald Tusk has come under pressure from the opposition to axe Belka but, under the country's law, the central bank governor cannot be legally removed unless he has been deemed too ill to do the job or if he has committed a crime.

Tusk has already made a public statement that analysis of the tape showed that Belka did not commit a crime.

Belka is four years into a six year term and has said he has no plans to resign.

"The job of central bank governor is always much more safe than other jobs in the country. As I said I see no reason why I should be stepping down," he said on CNBC TV.

"I just don't spend, say, my psychological capital to think about who might have done it [leaked the tape]. I was very sad and very disappointed. I'm probably tougher than I seem, I'm doing ok and the bank is in full swing of every normal activity [although] I'm fighting the potential loss of creditability."

"I was very embarrassed and I was sorry for the damage that might have been death to the bank or to the council of monetary policy. We have decided to mend fences and, judging by the discussions on monetary policy issues, you wouldn't find any impact."

What Did Belka Say on the Tape?

The tape was recorded at a famous restaurant in Poland's capital city Warsaw called Owl and Friends.

It is frequented by senior officials and prominent business people due to its notoriety for privacy.

The tape was recorded in July last year. Belka can be heard discussing with Interior Minister Bartlomiej Sienkiewicz that he would be willing to step in to help save the economy on condition that Finance Minister Rostowski was removed.

Four months after the recording was made, Rostowski was ousted in a cabinet reshuffle.

However, Prime Minister Donald Tusk and Belka have since said the removal of the finance minister was a coincidence and unrelated to the conversation in Owl and Friends.

Belka was also heard on the tape making negative personal remarks about central bank council member Jerzy Hausner.

He also remarked that if the country imposed a rate setting council, it would impede his ability to help the government.

"Of course, we have this f**king Monetary Policy Council," said Belka on the tape.

"But we are able to play with it."