Life /
Why Do You Love Poland? [907]
why did citibank buy and take over Bank Handlowy?
Yes, I was a customer. They were the only bank who would pay out on international bankers' draft. The word in Katowice at the time was the bank was under capitalised and it was an aggressive takeover. Dunno; I was pretty shocked too, thinking BH w Warszawie was a big player. Wrong.
Same with a lot of the plants. Restructuring. Asset stripped. Reverse takeovers. Wholemeal closures. It was bitter, but hats off to Balcerowicz, otherwise Katowice would still be in the dark ages, instead of the viable metropolis it is today. As for the coal mines, it's a shame, but Margaret Thatcher, hated as she was, has been proved right when she realised that coal was of a bygone age. Her decision to decimate the UK coal industry, and Polands' decision to "invest" in Polish coal is political too.
And costs a lot of lives:( :(
All of the above had to go. Progress. No investment from the west, and you would still be shovelling coal into your cellars like your parents before you. Ask them if they enjoyed it.