"More than PLN 3 billion (about EUR 700 million) has been paid out to people who have made deposits and put their trust in these institutions," Kopacz told reporters.
The SKOKs have run into financial trouble and been heavily criticised for weak management and poor supervision.
Reportedly almost half of the 55 credit unions are close to bankruptcy, putting a strain on the banking bailout fund.
Absolutely ridiculous. According to the article, they account for only 1.1% of banking sector assets, yet 3 billion złoty has been spent on rescuing them.
They should be subject to exactly the same rules as other banks within the EU. Certainly, if "Polish Banks for Poland" is what's wanted, who will pay for their financial incompetence and mismanagement?