Foreign investors are withdrawing from Poland. The economic growth and wealth in Poland was/is for a large part driven by these investors.
There is of course a problem with exports due to the credit crunch.
A lot of foreign companies are slowing down production.
However it should be noted other companies are moving here but at a slower rate.
Most banks in Poland are owned by foreign banks who are already in a difficult situation, these mother banks cannot (or don't want to) save their polish branches.
I don't know where you get this from???.
More Banks are opening up here.
The Polish law was so strict that the money could not leave Polish branches of foreign owned banks.
The millions of Polish workers outside Poland were generating nice cash flows into Poland, but these people are working in sectors that are hit hard by the crisis (Construction, transportation, factories). This is already stopping.
Are you saying millions of Poles are all going to come back? and swallow their money?.
I don't have experience in the world of finance but maybe that's a good thing. I can be more objective and not brainwashed. I am, however, capable of forming opinions based on what I watch and read.
It is posts like this Seanus that make me question your statements.
Polish people should withdraw their hard earned money from foreign banks, and deposit it in Polish banks, or keep it under the mattress as a last resort.
Ha ha ha,
Crnogorac3, you're a nutter.
I have no problems with secularization of anything as long as proper risk analysis is conducted by all parties especially the rating agencies.
Secularization?, as opposed to what?.
Every day sixty thousand Poles die in a civil war between the federation of Warsaw and the gypsie republic of Białystok, Poland as we know it is over.
Apart from giving me a chuckle, I have no idea what you mean.
Is Poland going down?.
The effects of the world crises are being felt here.
To a much less degree than her neighbours.
I think this down turn is an excellent opportunity to get rid of all the bureaucratic nonsense in this country.
-Some things have already very recently been changed here,
It only costs 5000 PLN to set up a Społka z.o.o.
Plus it will take 24 hours to set up (buy them off the shelf).
-There is no longer a need to apply for building permission, so long as you adhere to the general plan.
I also work in Lithuania and the new government has done some of the stupidest things imaginable.
They invented new taxes, crippling small business's and worsening the problems they face.
I have noticed that a lot of the construction firms in Poland are now building the roads with the E.U. money.
I drive through Poland often and there is great progress being made.
The value of the PLN is worrying but the government has been trying to rectify this and I believe are finally serious about joining the Euro currency.
There are going to be tough negotiations between Poland and the E.U. setting the exchange rate but remember Czech have renegotiated twice already.
With the Euro currency, Poland will be stronger and less fluctuation will accrue.
I also think it is a good time for Poland because the house prises will not continue to inflate before it becomes ridiculous (in some places it has already.)
I honestly don't think there will be a change for the better until the U.S.A and other countries start coming up again.
This is the precise time to invest if you have the money, of course it is.
In certain sectors.