Zloty lifts Poland's Economy

Don't give up the zloty:


nytimes.com/2010/12/07/business/global/07zloty.html

you're right about that, as soon as Poland will join the Euro club, the situation there will get much worse.

B0llshit article, written by a bunch of corporate dogs barking false optimism.

The article was pretty much spot on as far as I can see. Cautiously optimistic, I would say.

And thats a fact since PO got into power. Well said Milky.

So, all the improvements and investments we see aren't real, then?

Well said, Delphiandomine. When Hitman is barking, he should be choosing the direction in which he's barking more wisely. Instead he barks toujours vers PO.

Poland needs to keep złoty to be economically independent from monetary policies of euro

Whilst that's a fair point in terms of economic regulation,

a) Poland is not a big enough country to play the currency game against the big world banks. If JP Morgan want to make another announcement predicting a drop in the zloty strength (like they did two years ago) just so that they can make a killing on the recovery, the national reserves are not strong enough to counter that action. The country simply isn't strong enough (yet) to compete in that sort of market.

b) Poland signed the Maastricht treaty, and must join the Euro at some point; it's simply a matter of when. As other countries around it adopt the Euro, there will be increasing political pressure on Poland to join the bloc, with Germany and France's own banks stepping in to mess the zloty up until Poland has no choice.

I can make improvements with EU handouts too.
Investments ? .......... please !!


I don,t think you know the definition of " wise ".

there be no euro currency in two years and there might not be EU wait till rest of piigs get their bailout and then England and Italy turn then Germans will pull out off EU reinstating mark and forth reich

I'd argue that Poland isn't big enough to play the game against even individual investors, let alone the big banks.

Who told you the plan?!?!? It was supposed to stay secret until the big moment. You ruined the surprise.


The zloty was devalued to stimulate exports and investment during the downturn, which it successfully did by expanding the money supply and dropping rates.


Well...kind of. They are bound to join the euro, but there is no time frame. NBP isn't stupid, hopefully they'll hold onto to the Zloty as long as possible.

Yes, I know, and I agree, but my point is more that, when outsiders decide "it's time for the zloty to come down" there's very little the NBP can do about it. JP Morgan was however fined as a result of their misleading news, if I remember rightly.

I don't want a Euro either. I'm just pointing out that I don't think Poland will be given the choice, and that it's pretty much a guaranteed thing within ten years whether we want it or not.

Here's some sunshine dust sprinkled over a steaming pile of fiat currency:

The EU plans to make private lenders cover the losses of any future eurozone debt crisis
bbc.co.uk/news/business-11978495

That is excellent news. I essence, I read this as saying the next country that takes a hit will just be allowed to go bankrupt leaving the private investors holding the debt standing in the cold. Good deal, will make the buyers (and issuers) of European debt more disciplined and stable.

Ireland got screwed big time,however the bill will not be paid. The cash is not there and the young are leaving, big time.

From what I heard in the news, Ireland got bailed out by the rest of Europe. So why is that "getting screwed"? They didn't have their finances in order and the rest of Europe is bailing them out (as we did with Greece - and God knows which country will follow). Could you care to explain?

Which means property prices will rise - right?

By whom Milky? Why do you leave that little detail out???


/wiki/2008%E2%80%932010_Irish_financial_crisis#Background_and_causes

NOT Europes or the Euro's fault....but we are bailing you out now!

Even the UK is not big enough to play the game against individual investors, if you remember a certain George Soros ...


I don't think you know where to put an apostrophe and where to put a comma.

Euro is like a golden coffin.It is nice to see all this gold around you.

the majority of the population were duped by IMF EU FF bankers developers.So the majority,hence the Irish people got screwed.


b0llshit,you are bailing out the banks and we got your bill. I hope the ULA get elected just to p1ss @ssh0les like you off.

The article BB showed says something different, if you ask me. First there was a property bubble. Nowhere do I see IMF or EU bankers mentioned. I can only conclude that you are wrong in your assessment.

The bailouts are design to pump more money into fail banks as the tax payer gets austerity put on them to pay for all.
My opinion is Poland will be in Ireland position in 10 to 15 years if euro survives the piigs, the only one hope is to keep Polish currencie

then you can be a master of your economy.

that's what i've been saying for the longest, if it ain't broke don't fix it. No need for the Euro and other countries troubles to bring Poland down. The British are obviously the only smart ones in western Europe keeping the pound.

exactly..
youtube.com/results?search_query=the+world+economy+in+three+minutes

Merged:

Historic exchange rates Polish zloty/GBP

Can anyone tell me where I can find information on the historic exchange rates between the zloty and the pound sterling. I am particularly interested in 1985 and 1991.

oanda.com/currency/historical-rates

Probably doesn't go that far back though. Was the Zloty even traded on the open markets in 1985??? Any IMF or world bank borrowings (eg during the Gierek era) were dollar-denominated AFAIK.

I could only find from 1993 to present.

nbp.pl/homen.aspx?c=/ascx/archen.ascx

(here) NBP


en.wikipedia.org/wiki/Polish_z%C5%82oty#Fourth_z.C5.82oty

Reply to alexw68 -Thanks for that - unfortunately the tables actually only go back to November 1995