Global recession in 2012 and how it affects Poland

Now it is a foregone conclusion both Europe and The USA will fall into recession in 2012. Even if the Germans find the 1 trillion Euro package to prop up the Euro, it will still be weighted on the negative side. The euro will not be safe until Europe answers some fundamental questions that it has run away from for many years. At their root is how its nations should respond to a world that is rapidly changing around them. What will it do as globalisation strips the West of the monopoly over the technologies that have made it rich, and an ageing Europe starts to look increasingly like the western peninsula of a resurgent Asia?Some Europeans would like to put up carefully designed fences around the EU’s still vast and wealthy market. Others, including a growing number of populist politicians, want to turn their nations inward and shut out not just the world but also the elites’ project of European integration. And a few—from among those same elites, mostly—argue that the only means of paying for Europe’s distinctive way of life is not to evade globalisation but to embrace it wholeheartedly.This is not some abstract philosophical choice. It is a fierce struggle for Europe’s future, being waged in Athens as George Papandreou lost his power to a temporary government of national unity, in derelict factories in France and Belgium and in the wasted lives of millions of unemployed young Spaniards.

One way the euro crisis could affect Poland, is through its banks. Roughly 70% of Poland's banking assets are controlled by Western European banks. Overall, banks in Poland are well-capitalized, liquid and relatively free of bad loans. Poland has private capital that could be used to put a larger share of the country's banking sector into Polish hands.There's nothing unusual for a country Poland's size to think about such an evolution and benefit from market dynamics.Belgium's KBC Group NV and Portugal's Banco Comercial Português are considering sales of their Polish holdings. Others are also considering selling Polish operations. Who will step in to buy the banks?

Come on dude the end of the capitalist system is very near, it cannot survive, it is inherently corrupt by its very being.

If not now then in the very near future, theres only so many recessions a country can survive, its not countries anymore its global. Its a global recession because there is not enough money in the system for people to carry on living let alone pay back loans. People cannot pay back bank loans in the same fashion that countries cannot pay back their loans.

Institutions lending money that didnt actually exist and the interest incurred (that doesn't actually exist) has caused this crises.

This is it folks, unless the powers that be wipe away around 15,000,000,000,000 thats TRILLION then there is no financial escape.

there is no need for mass panic. probably another bank will buy those.

the Russians would love to - especially the mostly state-owned SbierBank

those what?


90% of the people will be the same anyway, its only those that have money who need to fear anything. fear of losing their money.....


Russians, Chinese, Saudi Sheiks it wont mean shite once the deck of cards start to fall. The whole rotten structure will come crashing down.

The ones in Poland with deep pockets are PKO Bank Polski SA, and insurer PZU SA.

I'm with WB on this one.

PZU maybe - thats a national revenue company. The banking system is done now, its gone, game over.. Take your money out ASAP.

If the **** hits the fan again get out of gold Gold Is Not A Currency,3 required roles of a currency:

1. Means of Payment
2. Unit of Account
3. Store of Value

Gold only accounts for two of them.

My gut feelings tells me Gold is going for a crash over the next three months.

For fcuk sake wedle, stop attaching material meaning to chunks of metal or pieces of paper.

In the modern world both gold and flat currency are repositary of wealth.

I just worry that the Jews, and their Scottish buddies, will switch off the electricity out of savings concerns when printing the vast amounts of banknotes needed to keep people afloat ;) ;)

FLAT currency?


Repositary? what the hell are they?

Fiat money/currency is money that has value only because of government regulation or law.


Used as a means of storing wealth.

Maybe we can just have a big car wash to raise money.

In the latest of a now long series of appearances, NBP central bank chief Marek Belka calls on the government to give up on its baby steps policy approach to better capture opportunities offered by the crisis and Poland's relative strength.

Recessions are caused by high interest payments due to international banks that countries and their taxpayers get saddled with...And the devaluation of money resulting from such counterfeiting schemes...Simple as that...Wipe out all debts caused by 'derivatives', 'credit default swaps' and other counterfeit shysterism and you reduce or eliminate so-called 'sovereign debt'.