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Poland's Economy Is Booming! The EU's Success Story?


peterweg 36 | 2,316
20 May 2012  #301
I don't know how you think it would be a good thing. Unless you have a lot of money in safe assets. Like gold.

You financially secure with a good job?
gdyniaguy 1 | 281
20 May 2012  #302
Some coutries have alot more riding on Greece then others. The UK is okish... france wull be snookered as will germany. If the euro fails europe will be a better place. Look at Iceland!
peterweg 36 | 2,316
20 May 2012  #303
Look at Iceland!

Corrupt, bankrupt, mafia run country that doesn't even have a convertible currency.

Iceland is great as a justification of whatever **** you want to promote. Eg.

- Iceland has never had the Euro and its go nothing to do with the Euro - get rid of the Euro and be like Iceland (bankrupt and up to your neck in debt)

- Iceland bans Black people, it works, lets do it here!!
- Sex with animals - Look... its great in Iceland, try it!
Wroclaw Boy
20 May 2012  #304
Because of said banks, the zl has gone down to the euro (since "Polish" banks are mostly with western capital). It is no joke.

Scared of a new way of life beyond the monetary system are you?

With regard to Iceland, get a load of this:

How come we hear everything that happens in Egypt but no news about what's happening in Iceland

There are several sources:
cac.ophony.org/2012/04/16/the-icelandic-revolution-why-didnt-i-hear-about-it

I dont know what your waffling on about again weg.
sascha 1 | 826
20 May 2012  #305
he knows, only him. LOL

Scared of a new way of life beyond the monetary system are you?

let's go back to trading system, that was cool ;)
InWroclaw 89 | 1,915
20 May 2012  #306
It's weird how investors have spent this month pulling out of Poland faster than they are getting out of the eurozone. Poland could be in some deep do-do.

By this, do you mean the weakening of the zloty against the pound etc?
I ask because where I am, things are buzzing and busy. At least superficially it looks that way. I could be wrong. The electrical shops are usually fairly empty, if that means anything,
peterweg 36 | 2,316
20 May 2012  #307
dont know what your waffling on about again weg.

Yes, typical claptrap from non-Icelanders promoting their own stupid agenda that has nothing to with Iceland. And bright sparks like you swallow it.

Iceland is comprehensively ****** and they know it. There is billions of euro's of bonds they have to keep paying interest on because they are desperate to borrow more money. The capital controls prevent their currency being converted, the Krona is worthless. It violated the basic EU law on free movemnet of capital, but they violated the equal treatment of EFTA citizens, so **** the EU. However, they are/will be prosecuted for this.

This journalist has a good view on Iceland and she isn't scared to say truths that the Icelandic mafia wouldn't like to be heard.

uti.is

IWR used to be quite good before she 'found a new job' and stopped blogging about the political situation and now its an occasional travel journal. From the best know Icelandic blogger in the English speaking world to.. silence.

icelandweatherreport.com

If you want to discuss Iceland, I'm quite happy to setup a thread about it.
milky 13 | 1,657
21 May 2012  #308
Good documentary
youtube.com/watch?v=qKpxPo-lInk
gdyniaguy 1 | 281
21 May 2012  #309
Peterweg

Iceland defaulted on its debts (like greece should do) and then started again with a level playing field. Sex with animals... really? grow up!

The Euro was always going to fail, so many goverments singing from different hymn sheets all using the same currency with no option to alter the value of their currency to stimulate trade and growth. The only country to really benefit from the Euro are the Germans. Only an idiot would still think that the single european currency is a good thing. There was a reason why currencies the likes of Spain, Italy and Ireland were shite before the Euro. The Irish Punt was always linked near enough to the Pound but the Irish economy was always like the poorest part of the UK. The PIGS nations were gerrymandered into the EURO in order that the Germans could shift German-goods easier. The pool people in these countries are now being stiffed by an ideal that would never work.

The UK may lose a little from this whole debarcle but as the UK has it's own currency which is unlinked to the farce of the EU then the GBP can be devalued to stimulte growth should it be needed. Poland on the other hand has it's own currency (which has dropped from 4.50 to the pound to 5.4 to the pound this year) so therefore doesn't have the flexibility to devalue to stimulate any more growth and inflation is on an upwards spiral. Added to that Poland is too linked into Europe (free cash!!) and the 'whole brotherhood of the USSR of Europe'. If Europe fails Poland fails.
peterweg 36 | 2,316
21 May 2012  #310
Iceland defaulted on its debts (like greece should do) and then started again with a level playing field. Sex with animals... really? grow up!

No, Iceland did not default on its debts and 'walk away with a level playing field'.
The Government did not have the debt, the banks did. The Icelandic government separated the banks into good bank-bad bank and re-capitalised them to the tune of 1.5 billion euro's.

They had considerable problems which are un-resolved, they failed to protect savers in the banks unless they were Icelandic. This is illegal under EU and the EFTA-SA are prosecuting the government, however, most of the money has been paid from the sale of bank assets.

The current situation is that Iceland is under legal threat from its debtors., its economy is frozen due to the (again illegal) capital controls that preven money being converted/removed from Iceland. There are billions of euro's of bonds than the Government has to keep paying interest on with hard currency.

All importer/exporters have to convert money via the government control banks system and are give half the real world exchange rate, because of this there is no investment from abroad because its impossible to move money out again. Iceland's economy is on a knife edge and the people have no hope anything will ever get better, it could take a decade for the capital controls to be removed. In the mean time, Iceland is ******.

Argentina is teh usual country they use as an example of how to walk away from debts for a clean start. 11 years later they still are fighting the consequences of the default and have a currency thats fallen from parity to 4.5 to the dollar, 30% inflation and a breakdown in society.

Added to that Poland is too linked into Europe (free cash!!) and the 'whole brotherhood of the USSR of Europe'. If Europe fails Poland fails.

If you are going to try to have a discussion about something you obviously don't understand, try and cut and paste something without changing it to be so fundamentally wrong.

Hint:Poland has complete control of its currency because it is NOT in the Euro.
Wroclaw Boy
21 May 2012  #311
whats your interest in Iceland weg? and what makes your sources so valid and ours so invalid?
InWroclaw 89 | 1,915
21 May 2012  #312
then the GBP can be devalued to stimulte growth should it be needed

The GBP has already been devalued over several years. Any more devaluing causes rampant inflation, pension values plummet further etc. Too many Brits do not understand this.
peterweg 36 | 2,316
21 May 2012  #313
whats your interest in Iceland weg? and what makes your sources so valid and ours so invalid?

How about they are Icelandic sources, from journalists or bloggers who speak and read the language, who live there and know what is happening?

Rather than some twit with his own personal agenda. The media outside iceland has some very starnge preconceptions, because of their own agenda and storyline.

For instance the referendum about the Iceave deal. The UK/US media decided it was a vote for 'freedom from bank oppression' against 'bailing out the banks', when it was, in fact, a vote on accepting the repayment terms - Iceland agreed to repay the Icesave debt, it was a vote on the interest rate for the loan. The delayed the deal so long the bank restitution committee repaid most of the money and now the legal case is just about the interest debt.

icenews.is is another excellent Icelandic news/discussion site.

EBRD upgrades Poland's GDP growth prediction

Poland's GDP growth will be at 2.7 percent in 2012 and at 2.9 percent in 2013, according to the latest forecast of the European Bank for Reconstruction and Development (EBRD).

In January, the EBRD predicted that the Polish GDP growth would slow down to 2.3 percent.

southern 75 | 7,096
21 May 2012  #314
The point is how many of these ''polish children'' have both parents polish.
sascha 1 | 826
21 May 2012  #315
what nice make up numbers. spain, portugal, ireland, greece, luxemburg are struggling, eu motor machine germany has an gdp growth of .5% and pl three times more????

a blind man sees that that isnt possible. but ok, you leaned to calculate on the market place, right?
gdyniaguy 1 | 281
22 May 2012  #316
Sacha

Don't waste your time on Peterweg...the bloke doesn't live in Poland so has no idea!
hague1cmaeron 14 | 1,377
22 May 2012  #317
what nice make up numbers.

Statistics don't lie, this is a credible international body making this prediction. I don't understand why people like to indulge in this tall poppy syndrome (trying to cut down the tallest poppy), instead of celebrating the fact that at last, after years of slavery the Poles are finally coming into their own and making the most of freedom.
jasondmzk
22 May 2012  #318
Don't waste your time on Peterweg...the bloke doesn't live in Poland so has no idea!

And astrologers don't live among the stars so they can't possibly understand the cosmos? Disagree with him if you want, but to ignore Peterweg is to be intellectually slothful and incurious. He's a bright guy.
milky 13 | 1,657
22 May 2012  #319
after years of slavery the Poles are finally coming into their own and making the most of freedom.

hahhaahaahahahahaahhahahah
that's up there with
"yes we can"

A diplomat is a person who can tell you to go to hell in such a way that you actually look forward to the trip.
Wroclaw Boy
22 May 2012  #320
I don't understand why people like to indulge in this tall poppy syndrome (trying to cut down the tallest poppy), instead of celebrating the fact that at last, after years of slavery the Poles are finally coming into their own and making the most of freedom.

The problem i have is that i dont think the figures reflect reality. The UK is in recession and a major one, but you head into any Apple store and its ram packed, the highstreet shops are full of people all spending money. In Poland theres plenty of people in the shops but hardly anybody buys stuff other than essentials. Im the first person to give credit where its due, i know many people in Poland all saying the same things, ohh its getting better, work is improving, the housing market blah blah, these guys are on the bones of their ass, just fooling themsleves. At some point you have to face reality, reality for many Poles is work abroad or be poor.

Disagree with him if you want, but to ignore Peterweg is to be intellectually slothful and incurious. He's a bright guy.

If you call bright having what would seem hours upon hours of free time to explore the interent looking for articles and data to reproduce here then so beit. Hes good at that but comes up way short in the thinking mans world. You cant learn smart, you either are or you arent.
peterweg 36 | 2,316
22 May 2012  #321
Dear me, arn't you a sorry thing who has to find time to slag me off. I guess I'm lucky to get to paid to do very little.

gdyniaguy:
...the bloke doesn't live in Poland so has no idea!

You know as much as me as you do about economics and maths.

.

In Poland theres plenty of people in the shops but hardly anybody buys stuff other than essentials.

Doesn't reflect what I cans see in Krakow. Full on, Buying as much crap as they can.
hague1cmaeron 14 | 1,377
22 May 2012  #322
The problem i have is that i dont think the figures reflect reality

In other words what you are saying is the international bodies making these predictions, and the recent article in The Economist "Poland gains from German demand and investment. It boasts the fastest growth in the EU: this year, GDP should rise by at least 2.7%", is wrong and you are right.

economist.com/node/21555619

In Poland theres plenty of people in the shops but hardly anybody buys stuff other than essentials.

Is not exactly a good measure of economic activity.
gdyniaguy 1 | 281
22 May 2012  #323
So then Peterweg.... enlighten us?

What do we not know about you that gives you the world intellectual rights on the economic situation in Poland?

P.s. where is Gdynia again ;)
peterweg 36 | 2,316
22 May 2012  #324
bottomline.msnbc.msn.com/_news/2012/05/22/11805670-viciou s-circ le-europe-crisis-threatens-world-economy-oecd-says?lite

Interesting, there was an article in a newspaper saying the US was on the edge of its won recession, regardless of the rest of the world.

Which is true?
Ironside 48 | 9,750
22 May 2012  #325
You are all arguing to and fro !
You should define first what economy means ?Is that standard of living, work for most people, ample pay, bustling industrious small and smaller firms or something else ?
Wroclaw Boy
22 May 2012  #326
Is not exactly a good measure of economic activity.

Its just one of many.

Might i ask why you reside in Australia?

I guess I'm lucky to get to paid to do very little.

Thats what they all say, im sure you're off for a spin in the Ferrari later too hey.

You said Krakow is booming, what does that mean for Mr & Mrs average in Krakow?

You should define first what economy means ?Is that standard of living, work for most people, ample pay, bustling industrious small and smaller firms or something else ?

Exactly. Poland has growth woopdy doo, yes it does have growth but the people are still inherently poor. Thats my argument.
milky 13 | 1,657
22 May 2012  #327
Exactly. Poland has growth woopdy doo, yes it does have growth but the people are still inherently poor. Thats my argument.

yes this is what i've been trying to say over and over and over again
hague1cmaeron 14 | 1,377
22 May 2012  #328
Might i ask why you reside in Australia?

I reside in both. I've spent 2 months in Poland this year. Last year when I visited Warsaw, I was astounded by the amount of construction activity I witnessed, I've never seen anything like it before. That is the same impression i got when i traveled by train from Warsaw to Gdansk, and then from Gdansk to katowice.
Wroclaw Boy
22 May 2012  #329
I reside in both.

Ohh do you work in Poland then? we both know you dont and probably never will.

I was astounded by the amount of construction activity I witnessed, I've never seen anything like it before. That is the same impression i got when i traveled by train from Warsaw to Gdansk, and then from Gdansk to katowice.

That doesnt cut it im afraid, big businesses setting up does not help the people, it only helps the big businesses.

Persoanlly ive never seen so many bloody banks in one single country, as soon as Poland entered the EU the banks came in anticipation - i mean banking is probably the best business in the World. How many main banks are there in Poland?
peterweg 36 | 2,316
23 May 2012  #330
Exactly. Poland has growth woopdy doo, yes it does have growth but the people are still inherently poor. Thats my argument.

Poor? Do you understand how F***ing poor people were in Poland 20 years ago?


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