[Ed. – Some background here. This story is mostly being told from a purely EU-friendly ideological perspective. That’s not to say there’s nothing to be concerned about with trends in Poland, but one thing is certain: the rush by Standard and Poor’s to cut Poland’s rating is 100% political. It’s not based on any demonstrable effects. Nothing has even happened yet in the fiscal realm. The transparent politicization of the S&P rating is cautionary for savvy observers — like the BRICS and others outside the EU-Atlantic Western bloc. In what other ways are Western institutions utterly compromised? This is a shoal the EU could break up on.]
The United States is scrutinizing developments in Poland, the U.S. trade czar said on Sunday when asked if Washington was concerned about the European Union’s rule of law inquiry into Poland and Standard and Poor’s cut to Warsaw’s credit rating. …
The European Commission, the European Union’s executive branch, has launched an unprecedented inquiry into whether Warsaw’s new nationalist-minded government has breached the bloc’s democracy standards in taking more control of the judiciary and public media.
Standard and Poor’s unexpectedly cut Poland’s credit rating a notch earlier this month – Warsaw’s first-ever downgrade, saying the new government has weakened the independence of key institutions and the rating could fall further.