Poland goes bankrupt?

Black prognosis of economist Janusz Szewczak. Rostowski hides the real information about scale of debt.

He says: "I think we are absolutely heading towards Argentinian scenario, and surely at least Hungarian. I think that worst times for our economy are yet before us. Crisis comes to Poland with delay but its effects will not be less dramatic than in Hungary or Greece."

Argentina went bankrupt with the deficit as high as only 100 mld dol. of debts. Poland's today deficit is 260 mld dol. of debts...

"As it goes for the scale of deficit in public sector, we really don't know what are the facts". He estimates that deficit of it is around 10% of PKB.

What does it mean for Poland? What your thoughts about? Are those predictions real thread or just a panic?

I blame tvn. They talk too much what Palikot has said...

No,you are not going to get bankrupt.As long as the cross stays in place of course...
Just kidding.You are not exposed to the same credit as the idiotic Greeks and the crook Hungarians are.You are secure for now.I am waiting here the dogs to go bankrupt to come and hang them.

As minister of finance he is concerned that his daughter gets a good secure job before the crap hits the fan. Who needs experience to be a 23-year-old advisor to the minister of foreign affairs?


...let's also concentrate on PiS and Kaczynski who are not in goverment. The posters here are not much different than the Polish population.


You're catching on, after all it plays a role of a government spokesman, with Dance with the Stars, You can Dance, Na Wspolnej, and all the other bullshit they and TVP feed people, who has the time to see what the ever popular PO gov is doing.

BTW, yesterday Palikot mustered about 100 people to scream insults at clergy in Warsaw. You don't need to sell him rope, he brought his own. His PENIS "party" is hovering at 1-2%. He is yesterday's news.

Meybe some of them are memebers of polish population? ;)
I mean that media and politicans are more intrested in some trivial matters (like cross, what palikot has said, whether russians give the wreck of plane etc). Those matters are not important though.

They really aren't interested in such matters, and all the media attention is probably just a distraction while they're making the real decisions. (Matters of public concern usually have a political purpose.)


Oh? (So they're all like moi?)

;)

well they haven;t managed to distract society from the fact that since new year vat will be 23% (now is 22%)

You'll learn that it's all about votes, and you'll find that most people are too absorbed with their own lives, aswell as with all of the things that you call trivial matters, to actually inform themselves about what or who it is they're going to vote for. (Either it's that, or they just don't care.)

;)

Of course its all about the votes! We have elections in close time

1% increase? It's nothing.

I usually hate it when I'm right.

;)

You would think so but we tried in Ireland before: 21% (which VAT currently is) up to 21.5%.

Didn't work out for many reasons and we reverted.

Sure we'll probably need the IMF too in the not too distant future.

Nothing I can do about it. I'm not worried - no point.

Nothing?!! NOTHING?!?!! A driving lisence course costs now about 1000-1100 zł. After New Year it will cost 1500-1600 zł!!!

That's not because of 1% VAT, that is because of the hidden tax known as inflation. The government officially said it was close to 4% last year. A bit less this year. I think they're full of it.

don't panic, just migrate somewhere far away...

That's pretty cheap. (Over here it's about 3000 €.)

;)

Because Argentina started crying like a little girl, Poland has had much tougher times and will get past this "little" issue.

Argentina crumbled when they debt/gdp ratio got too high and they tried to print their way out of debt. Poland isn't that bad yet, unless someone starts addressing the long term unfunded liabilities, there will be a lot of pain in the future.

That's called "driving schools taking advantage of stupid consumers", nothing less. As I recall, driving schools are going to some some of their tax perks - as they should, why should driving schools be treated differently from other businesses? But no doubt, many schools will take advantage and raise the prices dramatically and blame the government in the process.

Anyway, more expensive driving courses are a good thing - it keeps the amount of new drivers down, which keeps cars off the road.


Unless the next government deals with ZUS, there's going to be a lot of pain ahead. The black hole is growing - and the only way to deal with it is to start slashing all the nice pension schemes that Poland has idiotically been funding for years.

Couldn,t put it better myself, well said delph.

The scary thing about it is that the liability is just growing and growing - and yet they're still paying out huge pensions to many people who never, ever contributed a thing in terms of real money. I know there's the big fuss made about SB pensions, but what about all the apparatchiks who provided the PZPR with a stable base? They're all retired now, earning good pensions - and this is the real timebomb.

If anything, now is the time to go slashing pensions - PO doesn't have much of a base among elderly voters, so they've got nothing to lose.

We won't even discuss the way that Poland has done the same trick as the UK - using disability benefits to mask the real amount of unemployed people.

Quick question for any Americans out there - does America have disability benefits?

I'm 24 years old and still have no driving license!!!

Ah, no rush, public transport in Poland is generally decent and inexpensive :)

Oh great, I love a hot climate.

You're not the only one, so don't worry. You'll get it when you get it. Hey, some might disagree with me, but life's not a race?

:)

some people on PF think that young people actually have a good career start in Poland and make lots of dineros... how come you can't afford a DL course, huh?

So? Why do you need a drivers license?

I've driven a lot in the US (including travelling work that involved probably 10,000 kilometers within a few months, often) but I don't feel any need or desire for a car in Poland.

- the percentage of crazy drivers is way too high

- the roads are mostly in crap shape

- the percentage of crazy drivers is way too high

- there are always going to be worries about theft

- the percentage of crazy crivers is way too high

And public transport is lightyears ahead of anywhere in the US (where it mostly doesn't exist at all).

I'm much happier in Poland using public transport (relatively safer feeling, buses are bigger than cars) and the occasional terrifying taxi.

I know there are a lot of Polish people who feel they're above public transport, but they're fools.

Start saving and get it done, its the best thing in the world to have, you may not always use it, but its there and may help one day securing a job...


We're going from 17.5 to 20% after new year, tax is going up 1% and NI is increasing in the UK too..So all in all we're being shafted left right and centre, oh and they've just raised my pension age by 5 years...


Thats not the point, having a driving license is a benefit, as I said to zet, it can open doors where jobs are concerned, plus it gives you more freedom...


From what I can tell Poles are quite thrifty and not as credit happy as certain other countries, so I think its rather someone over reacting...

One can only hope that Poland will go bankrupt very soon.The sooner the better.Maybe then stupid Poles will wake up and overthrow the oligarchy.One must be stupid or a traitor to pay any taxes in Poland.Down with this "Poland".

come talk to dirty uncle convex, he'll hook you up...


Yes, social security pays out to people with disabilities...like being to stupid/fat/lazy to work.

Call it what you will, zus, social security, pension... if it's not funded, that is, if your money isn't sitting in a funded account somewhere....you deserve to lose it. If you can explain to me how it's sustainable, I will personally pay your pension from today on out.

Alarmist BS, the figures mentioned are patently ridicules. And what this so called economist neglects to tell, is that Poland's economy is likely to grow beyond all expectations next year. In an on the record interview Rostowski said it could be by as much as 6%.

The economist you mention seems to assume that the economy stays still from year to year.