The BEST Guide to POLAND
Unanswered  |  Archives 
User: Guest

Posts by bullfrog  

Joined: 23 Apr 2009 / Male ♂
Warnings: 1 - A
Last Post: 21 Aug 2015
Threads: Total: 6 / Live: 4 / Archived: 2
Posts: Total: 602 / Live: 571 / Archived: 31
From: istanbul
Speaks Polish?: trochke

Displayed posts: 575 / page 4 of 20
sort: Latest first   Oldest first   |
20 Jun 2015
Real Estate / Poland: Swiss Franc loans come back to bite [37]

Would you mind giving me an example of that? i don't think you're getting this

With pleasure. I have a CHF mortgage on a property in Warsaw which is priced at LIBOR + 70 bp. Given the current levels of 3M CHF LIBOR (around - 70 bp) , I have not been paying any interest for the past 6 months.
20 Jun 2015
News / Regain banking assets - new Polish finance minister supports privatisation in Poland. Corruption? [33]

The plans are to create a major home-grown bank that can challenge the local businesses of major foreign lenders such as CitiHandlowy, ING , Santander and UniCredit.

It already exists, its name is PKO BP

Alior is owned by a Italian-French company, and was never in Polish hands to begin with.

Yes, but the owner is a French billionaire of Polish origin, Romain Zaleski.
9 Jun 2015
Real Estate / Poland: Swiss Franc loans come back to bite [37]

Indeed. Let's not forget that for most CHF mortgage holders, the bulk of the negative impact is felt through negative equity attached to their property. That is an "unrealised" loss that could vary and even disappear if the exchange rate improves before they dispose of the property. It is true that there is also an impact on monthly instalments which are higher expressed in PLN, but this is at least partially offset by the low interest rates on CHF. Some mortgage holders are today not even paying any interest (eg those with a CHF LIBOR 3 months index and a margin below 80bp, since CHF 3m LIBOR is currently at -80 bp).
8 Jun 2015
Real Estate / Poland: Swiss Franc loans come back to bite [37]

Again, it was a free choice, they made, to choose risk over security. Should they have been given this choice?

You're right, and the implications of this are far reaching. Event the UK market can be criticized for exactly the same reasons, ie making the client reimbursements fluctuate depending on a parameter over which average Joe has no say whatsoever, in this case interest rates, since in the UK most mortgages are variable (or fixed for a short period).

Shouldn't it be the role of banks precisely to take this risk on board and manage it? That's what happens for example in the French market, where the vast majority of mortgages are fixed over the entire maturity of the loan, ie 15, 20,25 years whatever that might be ==> Repayments are fixed over the entire duration of the loan, whatever happens to interest rates.
6 Jun 2015
News / PKP buys Alstrom Pendolino trains for € 665 million [60]

When you consider shape of the country , terrain (mostly flat, with mountains limited to the south). distances between the main cities (300 to 500 km), Poland is ideally configured for building a high speed train network. A real pity it has not been done yet!
29 May 2015
History / Give Poland back it's lost land ! [132]

You can't have the cake and eat it.

I found this proverb quite stupid. Why would you have a cake if not to eat it??
14 May 2015
News / Warsaw no longer the most congested city in Europe! [16]

Well, it is Istanbul who gets this year the dubious honour of being the most congested city of the world:

Everyday, I congratulate myself for having precisely chosen my place of abode so as to minimize time to travel to the office!
8 Apr 2015
Life / No Easter Bunnies in Poland? [7]

From a pure religious vantage point, Easter has indeed probably more significance than Christmas..And the Easter bunny, a bit like Santa Claus, is not an 'anglo" invention but one which originates from Germany
7 Apr 2015
News / Poland: A Successful case of low criminality in Europe? [97]

the Polish honorary consul in Monaco had his (very rich:)) wife murdured by Russian maffia


- he did not murder his wife but his mother in law
- no russian mafia involvement whatsoever (sorry!) but his sports coach, a Frenchman named Dauriac and 2 thugs originating from Marseilles
1 Apr 2015
Law / Which bank in Poland offers the best interest for savings in Euro? [13]

3% on 200 k€? Which bank is that? If the funds are freely accessible, this is way over current IB rates, so it would indicate that your bank is in some kind of trouble for having to offer such rates. Of course, if the funds are not freely accessible (eg life insurance) it is a different story altogether..
20 Mar 2015
History / Poles should emulate Jews? [153]

A person growing up in a crime-ridden favela in Brasil is much less likely to become a famous scientist than an equally talented person from - say - Martha's Vineyard (just a random example for a ghetto of the rich and famous).

I don't think that's correct otherwise Switzerland, one of the world's richest countries would top the tables (at least on a prorata to inhabiatnts basis). It is true that A Einstein was working in Zürich when he produced the theory of relativity but apart from that and the cuckoo clock I am not sure that the Swiss are responsible for many breakthroughs.. I agree with Polonius, and believe that the key reasons for the success of the Jewish "nation" is the perpetual challenge and sense of insecurity which came with them not having , until recently, a country of their own.
1 Mar 2015
Life / Polish Rap groups similar to Paktofonika? [5]

Recently saw here in Istanbul an all female Polish group which was described as "rap/punk" . True, their music was rather original but no way can it be described as rap/punk, group's name is I think Drekoty
1 Mar 2015
Life / Do you think that Polish people are rude? [951]

In fact over the last 20 years Poles have become more polite


The last time I was in a Waitrose they had a Polish girl who was working on the deli counter who was extremely polite and rather charming

Show that indeed it is not directly linked to the people/nationality but rather to the environment in which live.
19 Feb 2015
News / SKM and surcharges - Fast Local Trains in Tri-City, Poland [25]

Why do you have to validate your ticket before you get a train?

That is the rule in many countries; apart from Swizerland, which you do not seem to like, it is also the case in France.

For surcharges or extra fees payable a notice has to be on display to that effect, the layman would suggest.

Unfortunately, this is wrong and kpc21 is right. In case you are not aware, Poland is not (yet?) part of the UK and has its own legislation. UK rules do not apply in Poland
5 Feb 2015
History / Polish-Turkish alliance. Is it mistake, joke or real love? [35]

And last year, Turkey and Poland celebrated the 600th anniversary of this event, making the two countries among the ones with the longest diplomatic relationships in the world. Turkey and Poland have been more frequently allies than enemies, probably also because they have shared for a long time a common enemy (the bear). Even Jan III Sobieski agreed only reluctantly to go and fight the Turks in Vienna (he was asked by the then Pope to go)

Turkey was the only country in the world who never acknowledged the partitions of Poland

3 Feb 2015
Life / Cosmetic surgery in Poland... [40]

Surely this is wrong, I thought that being in the EU benefits all of us I dont see how this is right.

I sympathise with the reason they gave, exchange rates keep on moving all the time, simpler to fix their prices and not revise them every day. If you are not happy with the rate, the answer is easy, exchange your GBPs in a Kantor (or Bank.;) and pay in PLN. And re your point that "EU benefits all of us", I am not aware of any benefits that the EU brings re exchange rates. The Eurozone yes, but neither Britain nor Poland are in it..
29 Jan 2015
Law / Do Poland's taxes apply to foreign pensions? [21]

Dual citizens have to declare there incomes in both countries

Taxation has nothing to do with citizenship/nationality and all to do with (tax) residency, except of course for US Nationals.
26 Jan 2015
Real Estate / Poland's apartment prices continue to fall [1844]

The only reason to buy would be if you really see a big rise in prices but I don't.

If you see the big rise, it means that it has already happened ie you missed it and it's too late to buy.. Sad, isn't it?
24 Jan 2015
News / Poland angered by German new law on minimal wage for transit truck drivers [4]

Why should they become uncompetitive if they have to apply the same rules (ie pay the same wages) as Western firms? It is rather a rebalancing act, making sure everyone (at least on German territory ...) plays by the same rules. What has happened over the years is that western European haulage firms have been massively replacing their west European drivers with much cheaper East European drivers, which has created a lot of difficulties for the former..
23 Jan 2015
News / Turkey abolished visas for Poles. [80]

Göbekli Tepe is indeed the oldest man made structure on Earth and dates back to ca 11500 BC, so before the Pyramids. Near the city of Konya you have also Catalhoyük, probably the oldest city discovered on Earth (7 to 8000 inhabitants) , dating back 7000 BC. No streets between the houses, no doors, the inhabitants used to enter by the (flat) roof and down a ladder!! Turkey is really fascinating in its richness of sites, did you know that there are more Roman and Greek sites in Turkey than in Greece and Italy put together?
23 Jan 2015
News / Turkey abolished visas for Poles. [80]

Erdogan isn`t only Turkish problem. We all know that. Its not safe society. Much less safe then any society by European standards.

That's nonsense. If I compare Istanbul, where I live now, to London or Paris where I have family, I would say that Istanbul is much safer than either of those 2 cities, despite being larger.
20 Jan 2015
Real Estate / Swiss Francs Mortgages in Poland [71]

Fully agree with Jon. Nevertheless, since most of the time people don't understand the risk they are taking and only see the "get rich quick" side of things, i think an outright ban on FX mortgages should have been put in place in Poland (like is the case here in Turkey), with possible exceptions for people who could demonstrate FX earnings.