"v."According to Andrzej Stelmachowski, one of the key participants of the Polish systemic transformation, Minister Leszek Balcerowicz pursued extremely liberal economic policies, often extraordinarily painful for society. The December 1989 Sejm statute of credit relations reform introduced an "incredible" system of privileges for banks, which were allowed to unilaterally alter interest rates on already existing contracts. The exceedingly high rates they instantly introduced ruined many previously profitable enterprises and caused a complete breakdown of the apartment block construction industry, which had long-term deleterious effects on the state budget as well. Balcerowicz's policies also caused permanent damage to Polish agriculture, an area in which he lacked expertise, and to the often successful and useful Polish cooperative movement.