Poland goes bankrupt?

how so?


Do you really believe that? Lets call it tax revenue, do you think that total tax revenue will grow 6% year on year? That's all that really matters in the end when we're talking about government debt...the ability to repay it.


And it's an optimistic level of growth for the upcoming future...

Poland had a strong currency. No it shouldn't be like Greece or Hungary as they don't have their own currency anymore. Lesson to Poland, don't give up zloty.


Pgtx, take her under your wing the girl needs a mentor.


Convex, America has a debt problem due to 2 unfunded wars. And the money didn't go to the men in uniform, it went to defense contractors.

BS.Swiss frank is what you call a strong currency.


BS.Hungary still has Forint.


Agree.

I'm not comparing to Swiss Franc. Comparatively to Eastern Europe and Emerging Markets, it's strong as can be expected.


Yeah, but didn't it have big problems this summer? Problems with Greece, Portugal, Ireland is they don't have their own currency. Germany and France control it. Not a good place to be.

Those two wars are a drop in the bucket.


Amen to that.

Poland will not go belly up......unless it can tackle it's unfunded liabilities.

A trillion $ and still growing. Remember under Clinton, " Balanced Budget" in 2000.

It's not my team vs. yours. You're talking about one offs (the wars, colossal waste of money).

I'm talking about trillions in unfunded long term liabilities, the first of which is affecting us this year.

Poland has the the latter looming on the horizon.

True.Americans just live beyond their means and goverment (on all levels)spendings are sky high.Just look how the goverment sector wages compare to those in private sector.But Americans also waste a lot and they could easily cut down on consumption.I still can't understand why would anybody want a 8cyl 4.6l eng in an ordinary sedan?


I am not so sure about it.Poland needs to cut goverment expenses,balance the budget and start PAYING OFF THE DEBT!I don't understand how countries can function just adding the debt?After paying all of the foraign debt Poland should back PLN with silver and live long and happy.

4.6 V-8, is not the problem. That's how automobiles developed in US. US traditionally is mainly rural, with harsh weather conditions. Europe is relatively mild, comparatively.


Metal backed currency locks value, and you lose your control. Might as well use the Euro.

I hope sincerely that del stays in poland and holds things together, he is such a
treasure to poland and its economy and does so much for them , he will get the
whole country thru this tough time...... I just know it...

cause he is super duper cool!! yahhhhhh...


or people who fought in wars or turned 62 years of age and worked all their f=in lifes
and its also for children who lose their parents, or for people who lose arms, legs
and maybe a large machine fell on top of them while they were at work and they lost
their ablilty to walk, but they are still alive.. yeah, your such a good mod convex
I never thought you would be so caring.. :)

I am sure you feel the same way about all the polish people living in poland collecting
some type of disability..

Well the economist quoted, apparently claims that the government figures are unreliable, following that he comes out with his own figures, which are even more unreliable. Unlike the government, he does not have fixed methodology at his disposal to count the debt. He is effectively asking people to trust his wild assumptions instead of the governments'.

I am not sure if it is going to go up by 6%, however it is fair to say that the current official government forecasts of 3.5% of growth are a real underestimate-which is what they do, because they prefer to underestimate the level of growth than to overestimate it-and that is what their track record of the previous few years indicates.

It's artificially increased purchasing power. $46b/mo trade deficit will do that.


Actually, it provides stability and has been an effective hedge against inflation. Meddling with fiat currencies has terrible unexpected side effects. Pegging one fiat currency against another is just outsourcing monetary policy. Pegging it against a precious metal which has been (and is) used as a means of retaining value makes quite a bit more sense. The Swiss Franc comes to mind... You can still devalue your currency if it's pegged, no loss of control.


We're talking about social security disability, of which the requirements to get on aren't exactly stringent. If you don't believe that the program is being massively abused, have a visit to you local trailer park and ask around. The soldiers that you're talking about are paid disability from the military. The people who worked all their lives putting money into a Ponzi scheme, well, their fault. It was proven that it's not sustainable at its inception. Now it's hitting the wall. You'd suggest continuing somehow with a failing system? You want the current working generation to bail out the auto industry, banking industry, continue paying for the massive increase in defense spending that the retiring generation oversaw, and ponzi social security and medicare on top of that? No, no thanks.

Poland needs to get out of their entitlement trap. GDP growth is slowing down as wages increase. Hedging on constant 5%+ growth probably isn't too good of an idea...On the other hand, I'd definitely like to see it.

PS, admin doesn't castrate before making people moderators.

Merged: Poland is going bankrupt

Media finally start admitting the obvious:

Foreign investors join the chorus of Polish economists sharply criticizing the government. Now everyone according to herald the imminent bankruptcy of Polish .

- Polish government has no credible plan to repair public finances - alerts Daniel Hewitt , senior economist for . Emerging markets at Barclays Capital.

In anticipation of worsening condition of the Polish economy, the British bank even urged investors to buy securities protecting our country from financial collapse . Analysts suggest that a good capital investment . The 10-year CDS- s write: " They increase their value when increasing the risk of deterioration in the financial condition of the country , and the government is increasingly dependent on the sale of debt and the purchase of bonds by foreign investors."

3 years of coward Tusk and less than a year of that village idiot "president" was enough...

Maybe some of Poland's civic, and social systems are aching (such as the Polish economy increasing in GDP but the public being completely unaware of any benefit/growth. But as far as I see it in current day and for a whole on the economy it's the P.I.I.G.S. who are bankrupting. Especially Greece, Ireland, and Spain. The other two are Italy and Portugal.

Now with the help of Polki bankruptcy will be complete.

Why would you cut out just that part of my statement? If you ask me Ireland is really the worse now, and in terms of austerity Spain is nearing to the worse. Greece is seeing massive problems in it's social systems. Ireland loaned close to 100 billion Euro (just 10bn less than Greece) with a lower interest rate and they're only 4 million people.

If P.I.I.G.S go bankrupt, will that not be the end of the Euro?
And even if the Euro remains but devalues, will it not be the other independent currencies, like the Zloty, that will take an even bigger hit because people will sell out of fear?

Tusk is acting the mickey trying to get his hands on OFE, short term strategies are no good.

The PIIGS will go bankrupt only if Germany decides so.As long as Germany wants euro there is euro.

I agree. Merkel says Germany will never abandon euro.

But if the Euro devalues, will the Zloty not devalue even more?

Indeed, which is what makes Deutsch Wirtschaftliche Macht a nice thing for balancing it when things hit the sh!tter like now.

As long as german industrialists profit from euro there will be euro.


It is already artificially devalued through PIIGS sad economic affairs.Germans will just not tolerate a devaluation under a critical value.


The zloty is not connected to the euro per se.The value of zloty depends on the rate of flow of EU subsidies to polish economy and the responses.

Have you paid back your share of the EU subsidies to PL, as you said you would? Hurry, because if Poland really is going bust (despite all economic indicators to the contrary) you'll very soon not be able to.

Sure the 67.3 Billion (milliard for the Poles) funds available in the years 2007-13 are definitely helping, no question.

But there is a problem here with the cost of living, non-Polish commodities are the same price in Ireland/Britain as here, yet the wages are approximately four times lower.


We all know that Poland's GDP is good.

But there is still a big gap between Poland and older E.U. countries and with the general slow down and collapse of the PIIGS, it may get worse.

I agree with southern, it seems to all depend on Germany, so long as they think it profitable it will work.

And lets face it, this is the biggest problem the E.U. has had to face and it's not as if anyone thought there would never be a bad day again.

I don't personally think that Poland is bankrupt but in this global economy, I can't really see how it is a kind of island, independent from the rest of the world's economic situation, if you know what I mean?

Poland's GDP is on the rise for a very simpe reason.Poland is the only country in EU to have a mobile workforce.So when the economy is on the rise in UK they move to UK when it regresses in UK they go to Sweden and when Sweden slows down they go to Germany.In this way they avoid the regional break ups and declines.However Poland as Poland is far behind since its own workforce does not participate in country rebuild and neither will.It is a complete drainage.Of course it will not be heavily severed because there is zero to be regressed.I mean they have not attratced immigrant workers so how are they supposed to be harmed by the crisis?


Germany consists of three things:
1.Public,average workers
2.Industry
3.Bank sector
Now 2 of the 3 factors(industry and bank sector) are in favor of the euro while one(public) is against.However if one of the other two(banks or industry) decides that the euro is no longer profitable or if the public asks immense pressure through populist politicans the euro will collapse in one night.

Global economists including Europe economists say economic rise here in Turkey is better than anywhere in EU. But, that mobile force isn't coming here. (perhaps, you see a few, a minority only moving from place to place and you are extrapolating them to the majority? What I have observed is Poland has a settled industry. If you count, say, Brits in Poland, I guess they are many more than Poles in UK.)

The Germans did the right thing and did not move their industry to China as the Anglosaxons adviced them in order to make big profits.They simply understood that a Mercedes made in Germany will sell better than a chinese made one.

Now the Anglosaxons want the Germans to increase their salaries in order to boost global demand so that the increase of german GDP will have a global benefit but Germans refuse to do so.In this regard we have the gradual shift of power from anglosaxon world to China,Germany etc and this is unacceptable in a political level.

You are so economically illiterate, that it is not even funny.

Why not. They have learnt the real power better than the others and they have worked more than the others for that. Poland is following them and they doing correct. If you don't have fertilized farm land for grain to make bread and meal, you can make kitchen utensils for cooking. This is what Poland is doing. (they deserve a holiday more than others.)

I don't want the sly Asian to dictate me what to do.First of all they always cheat.Second they are very far aways to press them as we should.

For you to feel comfortable, there are Poles and Germans, Chinese of Europe. So, you can start to learn to be dictated by them. You didn't listen the former Democratic Deutchland woman. She became more democrat now.