04---Poland (2)

Of all the former socialist countries, Poland is the one most often held up as a success story, both economically and politically. According to the World Bank, Poland hasn’t experienced negative economic growth since 1992, with an average annual growth rate of 5.1% over the 1990s and 3.8% between 2000 and 2010. In those twenty years, Poland’s GDP has almost quadrupled. And in 2009 it was the only EU member state that did not post a negative growth rate as a result of the financial crisis.

By comparison, average economic growth rates in Hungary and Czech Republic during the 1990s were much lower, 1.7% and 2.1% respectively. Why has Poland done so well in comparison to many other former socialist economies? What’s Poland’s secret?

To get a response, we spoke to Professor Grzegorz W. Kolodko, former Deputy Prime Minister and Minister of Finance during Poland’s transition to a liberal democracy with a market economy. What would he say?

kolodkoPoland is a relative success story, but I’m emphasising ‘relative’. Without the periods of ‘shock-without-therapy’ at the beginning of the early 1990s and the mistakes of the late 1990s, we would be doing much better. But, together with countries like the Czech Republic, Slovenia, and to some extend Slovakia and Estonia, we are leading this post-socialist transition.

I would say we are doing this for two reasons. First of all, due to the reforms of the late socialist system, we were prepared better for the jump into a full-fledged market economy and democracy than anyone else in the region. Secondly, there were periods of time – also under my stewardship as Deputy Prime Minister – when we did pay proper attention to structural reforms and institution building.

Transition is not just about privatization and liberalization (which is of utmost importance), but first and foremost about building institutions which are compatible with the flows of private entrepreneurship and business, while at the same time ensuring social cohesion. And this combination of the power of the invisible hand of the market and the power of rational, reasonable and accountable government is behind our relative success. When we were working towards a social market economy following the line of my new pragmatism, we were more and more successful. But during the early and late 1990s we were not that successful at all. So, the story of 25 years of Polish post-socialist history varies considerably from period to period.

Without doubt, Poland’s transition from a socialist into a market economy is one of the most successful such transformations in history. Many proscribe this success to economic “shock therapy”. Proponents argue that shock therapy can rapidly kick-start a country’s economy when it transforms from a socialist into a capitalist one. State-owned companies are privatized, trade is liberalized and subsidies are withdrawn within a short period of time. Critics, however, argue that shock therapy can also be disastrous for an already-fragile economy, resulting in unnecessary suffering.

To get another perspective, we put the same question to Jacek Saryusz-Wolski, a Polish MEP who sits with the European People’s Party in the European Parliament. Does he share Kolodko’s views?

Jacek-Saryuz-WolskiOn the economic side, Poland does not have a high GDP-per-capita compared to others. This is the result of the heritage of the past. At the same time, among the Central and Eastern European countries that joined the European Union, Poland has the highest rate of economic growth and has done the quickest catching up. So, whilst our relative GDP is not satisfactory, our speed of catching up is.

Poland’s success in this regard is due to economic factors that were present during the transformation period in the early nineties. Poland went through so-called ‘shock therapy’. We made fundamental structural changes to the economy, sometimes even drastic changes, which were very costly and painful and for which Poland paid a high price. But those reforms are paying off now. So, the fundamentals of Poland’s economy are relatively healthy and this is why we have good economic growth and are catching-up so quickly.

In terms of our good foreign standing, this is the result of the state of our economy and the Polish state as such. I think Poland is a well-established Parliamentary democracy with clear rules of the game and a healthy economy, and that dictates predictability and respect from our international partners.

So, what next for the Polish economy? The country is likely to become the third former socialist country to adopt the Euro in the next five years (after Slovenia and Slovakia), once it meets all the criteria. However, we had a comment sent in from Rino arguing that – considering all the difficulties facing the Euro – Poland should stay in the EU but not enter the Eurozone. According to opinion polls, this is a view that many Poles would agree with.

How would Grzegorz Kołodko respond?

kolodkoI think that the mood towards the Euro will gradually change in Poland after we have overcome the institutional and structural problems that are present in the Eurozone today. I am betting personally on the success of the Euro in the long run, and we are committed to join the Euro.

When I was Deputy Prime Minister, the Polish people decided in a referendum that we would join the Euro when we meet the criteria. However, today there is public scepticism towards joining the Euro – if a referendum were held this Sunday then the majority would want to keep the Złoty.

But the most important question is not ‘to join or not to join’, but to join with what exchange rate. We should join, but only with an exchange rate that can secure competitiveness of Polish export-oriented businesses. Because, for an open medium-size economy as Poland is, we have to execute export-led growth. Therefore the Euro’s exchange rate at the time is of significant importance.

 

We asked Saryusz-Wolski the same question. Does he think Poland should stay out of the Eurozone?

Jacek-Saryuz-WolskiI would say I disagree. The Euro is a well-functioning currency that is not in crisis. It brings benefits for those using it and lowers transaction costs for companies and citizens, allowing for easier capital flows, investment, trade and services. So, it is economically beneficial.

There is a crisis in some of the Member States which joined the Eurozone because of over-indebtedness. If Poland reaches and fulfils all the necessary criteria – including inflation, deficit, public debt and interest rates – Poland should enter the Eurozone. If you have a healthy economy, you profit from being in the Eurozone. If you are not a healthy economy, you risk problems like those in Greece, although this is not the only example. So, I am in favour of Poland joining as quickly as possible, as soon as it fulfils the necessary economic criteria.

Can Poland’s economic success be attributed to “shock therapy” in the 1990s? Or were there other factors in place that ensured the country’s transition to a stable market economy? Why were some other Central and Eastern European countries relatively less successful? And should Poland join the Eurozone? Let us know your thoughts and comments and we will put them to policy makers for their reaction!

IMAGE CREDITS: CC / Flickr – Bill Hails


383 comments Post a commentcomment

What do YOU think?

  1. avatar
    Eleni Kontaxaki

    what for? the GDP annual growth rate in Poland is 3%+ while it is less than 1% in the Eurozone. Stay with your own currency Poland!

    • avatar
      bert van santen

      Unfortunatly, like all other countries who have joined the Eurozône, we are depending on politicians who can see only the EU taxpayers moneybag but close their eyes for the daily reality.
      But I totaly agree with Your statement.
      Polish people think twice before You want the €!!

  2. avatar
    Inês Cortez

    Why would they have to be ready? It seems to me that changing their currency would bring disadvantages to them

  3. avatar
    Ferenc Lázár

    I don’t think they want to join! All eurozone wasn’t thought over properly, look at examples of how Slovakia- where the wages are half of the Greece waged- still has to pay for Greek debts because of common policy of eurozone.

    • avatar
      Dávid Juraj Szücs

      And I, as a Slovak citizen, still think that joining Eurozone was a good thing. So much less boureaucracy while travelling to the other € countries. Businesses have to pay less fees for money transactions and payments from our partners within Eurozone. Also International companies see € in Slovakia as one of the aspects and advantages of setting up a manufacture in this region.

  4. avatar
    Alexandros Geromoschos

    If they are ready to welcome IMF and a memorandum in a couple of years they are welcome to do it . If they are wise enough they wouldn’t dare entering this unequal German-favoured zone.

  5. avatar
    Mirko Celii

    Ahahhahahahahahahahaha ha hahaha you really think they are as idiot as the rest of Europe?

  6. avatar
    Nando Aidos

    “The country is likely to become the third former socialist country to adopt the Euro in the next five years (after Slovenia and Slovakia), once it meets all the criteria.”
    Thus the answer. And the criteria need to be in social and government institutions as well, not just in the financials. The EU must ensure that countries joining have strong and democratic institutions that can uphold social and ethical values within the EU community. Financials is not enough!

    • avatar
      bert van santen

      Give me ONE example of a EU member state who is or has been a strong and democatic institution……Each and every country had to “adjust” the numbers…
      The number of EU countries which have faced financial and scocial trouble after joining the Euro are far more as the countries without trouble.

    • avatar
      Aleksander Olsen

      The author is factually incorrect, as Estonia, Lithuania and Latvia have all entered the euro after Slovakia and Slovenia.

  7. avatar
    Matthaios Christoforidis

    The eurozone will fall apart sooner or later. The grexit is innevitable ( alternatice: bring slavery back to Greece). Germany is destroying every country joining the eurozone. Poland will be no exception. What kind of industry has Poland to compete with german products? You want to see your people as working slaves for german companies? Join euro and become the prostitutes of German bosses ( in a metaphorical sense, since the streets of Germany are full with the real ones, despite the so called …economic growth you are so proud of ;-)

    • avatar
      Greg Ward

      Totally agree with you now prophetic opinions here Matthaios. The Euro has a fundamental problem in that lower income countries are unable to benefit from a lower currency. In fact Germany benefits by operating a Euro that is undervalued due to the poorer states. German manufacturing thrives thanks to the poor Greeks etc.
      Run from the burning Euro, and run fast.

  8. avatar
    Charalambos Cherkezos

    Last year in June we spent a week in Poland and if we spoke to 100 persons then 9 out of 10 said they don’t want to join the Eurozone…….

  9. avatar
    Ibrahim Uzun

    Please polish people, you are very hard working people, don’t don’t don’t join the eurozone ,
    You will become slaves with your own money .

  10. avatar
    Max Berre

    The Eurozone crisis has demonstrated that the most strategic policy is NOT join. Poland should follow in UK’s footsteps

    • avatar
      bert van santen

      But neither the EU zône or the € are in the current shape subject to survive.

    • avatar
      bert van santen

      Only a madman would even consider joining the €

    • avatar
      hans van veen

      Oh, so You don`t want anymore economical grow in Poland?
      And be part of the countries who are saving the Southern European banks for the rest of Your remaining life?
      Think twice before You wish for the Euro!!!!

  11. avatar
    Ferenc Lázár

    I agree with you Giossas Kostas! But all countries leaders are to be blamed, who didn’t think over before they joined euro money! They should have known that Germany and the biggest economies will control their national bank! The solution of Greece would be to stay in E.U. but go out from eurozone- my opinion…

  12. avatar
    Jude De Froissard

    You will lose your sovereignty ….and be controlled by different organisations. .pity for a country that got out of a dictatorship …and fall into another….Just stay in the e.u……..

  13. avatar
    Jude De Froissard

    You will lose your sovereignty ….and be controlled by different organisations. .pity for a country that got out of a dictatorship …and fall into another….Just stay in the e.u……..

  14. avatar
    Nick Knight

    I live in Poland. We prefer the advantage of that being out side provides. Poland like the Baltic’s, comes from the league of solid budgetary countries. Until the EU thins the heard of the loss monetary countries, it should wait outside.

  15. avatar
    Mateusz Iwanek

    THIS COMMENT HAS BEEN REMOVED BY MODERATORS FOR BREACHING OUR CODE OF CONDUCT. REPLIES MAY ALSO BE REMOVED.

  16. avatar
    Nikos

    Poland – as every non-euro zone member state – is definitely welcome to join the common currency. We should all together face the common problems and share the common profits! Greece wants POLSKA!!!

    • avatar
      hans van veen

      Which common profits? In the EU there are only problems!!! Economical and social! Far more then ever during the EC!!

  17. avatar
    Davide Palladino

    My thoughts about joining Eurozone are positive. Both of us, Eurozone and Poland, could improve the actual economics conditions. The healty polish economics growth could lead better the Eurozone economics soft-recovery. At the same time Eurozone shouldn’t try to profite alone of this deal and we (eurozone members) should allow them to keep their growth without unsustainable fiscal pressures how we also made with other countries. I’m sure that Poland will choose the right interest rate to make profitable this deal already in the short period for Eurozone and also in the long period for Poland that could suffer a little “shock” as sono as they’ll join Euro. Poland, JOIN US

  18. avatar
    Grzegorz Sawicki

    We don’t want euro in Poland. And it’s not because we would loose our “Polish identity” in Europe. It’s because if there’s something wrong happening for instance in Spain it’ll affect us. So called “domino effect”.

    • avatar
      Ian Francis

      That is an isolationist stance. The law of “unity” is a universal law that is most positive. There are many examples of this. Look at the U. S.

  19. avatar
    Harald Heidegger

    Maybe Poland is ready to join, but the monetary crisis should have shown that we have to fix some serious problems before.

  20. avatar
    Jaume Roqueta

    yes of course they are.. but now? that so many countries are thinking in leave the Eurozone!

  21. avatar
    Эркан Авджы

    Eurozone? Well, region in crisis ? Also, German domineer region? Why does Poland want to be slave of Germany? If he want, then, in advance I hope get better he soon…

  22. avatar
    Justyna Szlas

    In my opinion it’s really bad idea to join the Eurozone. Maybe we’re ready, but I’ve got hope we aren’t crazy enough to say YES.

  23. avatar
    Agnieszka Pa

    We might be ready but fortunately public opinion in Poland is not optimistic about this idea. We experienced much more benefits of being outside Eurozone so far.

  24. avatar
    Michal Zdrojewski

    Polish economy is definitely not ready YET to join eurozone. Wages in Poland might be growing a lot for couple years but it’s still not enough to handle change from PLN to euro. I think it would be good for higher class cause it could expand their buissnesses and make it easier to make something out of nothing in Europe as a whole but for a regular citizens and small buissnesses it would be like a suicide. Everything is going in the right direction but we can’t handle it at this moment. In 5 years? Maybe. And I really hope that we will be ready for it and I hope we will meet the criteria because it will show that our economy is getting better.

  25. avatar
    Eberhard M. Bartelmess

    They might not be so keen now,
    and who would want to blame them, with all the troubles in the Eurozone and all the patronising interference by ‘the institutions’….

  26. avatar
    Paloma Pal

    Perhaps it was before the crisis but now it would be irresponsible. First we need to find an agreement and consolidate the fiscal and banking union, as well as explaining to citizens and States themselves what went wrong with the single currency. Once this is fixed we can start talking about more countries joining the Eurozone. The other way round would imply not having learned anything from the crisis and the current state of the EU.

  27. avatar
    ironworker

    Why not ? They work hard for it.

  28. avatar
    Mieszko

    POLAND ISNT RDY! Our salary will decrese to one or two bank notes. At the moment most of us geting around 1300 polish zloty which is ~300 euro that will show thats we are far away from EU standarts and kill us mentaly. Moreover our gov will start stealing in euros which means they will steal 4x more per crime. First plz euro gov check our pro soviet politics, fix it then think about eurozone… soon we will be 2nd ukraine!

    • avatar
      Teza

      Poland should stand on it’s own feet.Not sit on the fence.Trying to get the best of both world’s like the U.K did!

  29. avatar
    Luís Torre

    Big country with a lot of potencial to be very modern and well developed… if they didnt made the same strutural mistakes like southern european countries….

  30. avatar
    Luís Torre

    Big country with a lot of potencial to be very modern and well developed… if they didnt made the same strutural mistakes like southern european countries….

  31. avatar
    Anamaria Ştefana Bacovia

    They had great leaders at the beginning of the 90’s , while the other countries had the same people that were previously in the communist party. They just changed the name of the party and went on with stealing and killing the economy. I am mostly talking about Romania. But I assume the same thing happened in the other countries as well.

  32. avatar
    Christos Mouzeviris

    Because they had already an established heavy industry, mainly set up by the Germans, that because of the proximity and cheaper labour force that Poland had before it’s entrance to the EU, was profitable for German and local industries. That of course is only one of the reasons of course.. Being a very proAmerican and proEuropean country also helps. As well as being a big country with large resources.. Good on them!!

  33. avatar
    Mirko Celii

    Poland also maintained the change flexible instead joining the euro, in order to keep protect their industry from external shock

  34. avatar
    Vitor F Veiga

    They have their own currency! More “pro-west”, stability, low wages… more solid institutions= more prosperity

  35. avatar
    Christiane Vermoortel

    They probably got a lot of money from the US for hosting secret torture prisons in the framework of the US so-called war on terror and its rendition programmes.

  36. avatar
    Dan Stanciu

    1) Political and legislative stability; 2) 40 million market; 3) Very strong ties with Germany

  37. avatar
    Costi Ciudin

    because it is one of the very few former communist countries that completely abandoned communism in 1989, in most of the former communist countries, the transition from communism to capitalism was much slower and more painfull

  38. avatar
    eusebio manuel vestias pecurto

    Yes I agree Poland join the Eurozone

  39. avatar
    Paul Odtaa

    I would argue that Poland should prepare for joining the euro, but wait for a few years, until the problems within the zone – France, Greece, Spain etc are sorted out.

    There are problems on restructuring the eurozone that Poland should have some influence. But tomorrow – NO.

    • avatar
      bert van santen

      You believe the Greek banking problems are sorted with a couple of years?
      The Northern taxpayer will have to pay for the Greek banks FOREVER.
      We`re not talking about a few bucs, we`re talking about billions and billions.
      Any other business with the Greek situation will be declared bankrupt immediatly.
      The Greek situation is hopeless. People know it, but politicians don`t think like normal people

  40. avatar
    Dawid Dubanosow

    Poland is not ready. just not jet. we will wait 5 or 10 years, and see if EURO can deal with its problems. coz if we have to join and then pay for other countries problems, that’s none of our business.

  41. avatar
    Arjan van Eersel

    Which European country has capitalism? None. There were some neo-liberal influences, but there is no capitalism in Europe, unfortunately.

  42. avatar
    Lucian Sarbu

    Really? With millions of Poles abroad (=unable to properly feed their families by living and working at home, in Poland) you think that Poland is a “success” story?!

  43. avatar
    Αργυρης Κουκουτσιδης

    To understand that,lets compare 2 economies from the 70’s,POLAND and Romania.since then,they borrowed much monex from the banks,until the point they could not take more.in the 80’s,under hard politics,they managed to pay back these money.but through hard measures,the fall of the 2 resimes was inevitable.after 90’s their ways were seperated.Romania fell in the hands of the credit-money system,while Poland(except the early 90’s)made an economy based on production and less in money system.

  44. avatar
    Iwona Sidło

    So well … for who? This is really funny. Let’s check first what’s the reality of living here and then compare it to other countries. :-)

  45. avatar
    Spiros Agiovasiliotis

    Poland has rising poverty and rising inequality. The poor are getting poorer and the rich richer. That’s a “success story”???

  46. avatar
    Selcuk Ipek

    Easy answer, easy question. Bigger core country’s backed and took possible economical risk’s. This would have never happened without them.

  47. avatar
    Erich Scheffl

    Poland has rising poverty and rising inequality. The poor are getting poorer and the rich richer. That’s a “success story”??? The same in all EU-countries. The faster, more corrupt, better Lobbyists win today. Easy.

    • avatar
      Ian Francis

      The facts belie your foregoing statement.

  48. avatar
    Nikos Themelis

    The Eurozone is a disaster of epic proportions,even without the Greek drama.
    If Poland is stupid enough to not learn the lessons that every sane people learned during this never ending crisis,it can join the euro and become a financial slave of the Germans.
    If Poland is at least of average intelligence,it should go as far away from the Euro as possible.

  49. avatar
    Anargyros Botsis

    No let them stay…They Should not enter the Eurozone. That is suicide to say the least…in Greece we ‘ve regretted the Euro so much … the Brits are the smart guys. And the Pound will survive as the Euro drops and falls to the Seabed.

  50. avatar
    Christos Mouzeviris

    Well will you ask the same question for Sweden, also obliged by the Treaties to join the euro, but avoiding doing so by taking advantage various loopholes?? No… If Sweden can do it, so can Poland!!

  51. avatar
    Andrei-Bogdan Sterescu

    Poland is still suffering from structural distortions inherited from the early ’90s, much like the whole of Eastern Europe. In comparison to other Eastern European countries, Poland is doing great both economically and politically. I would say that if it’s not ready to join the Eurozone then it will be ready soon and it might actually be good for them. The situation might be similar to that of Slovenia, Slovakia and the Czech Republic. Those countries are not particularly rich in comparison with Western Europe but they are the most advanced countries in Central and Eastern Europe and in my opinion Poland is as well.

  52. avatar
    Marco Musazzi

    Fiscal policies in the EU (and DU istitutions themselves) should be redesigned. The Euro is a good idea. Unfortunately as for now it is a political decision not an economic feasible option

  53. avatar
    Nikolas Kalaitzidis

    Do you really feel better asking questions ignorant …more or less audience ? Do these questions repair the lack of democracy? When the same question comes to the Fire Land or China, please regard my answer affirmative. No one should miss that gathering.

  54. avatar
    Thomas Beavitt

    Greece is moving towards the idea of operating two parallel currencies: the Euro for tourists and international c?r?i?m?i?n?a?l? ?g?a?n?g?s? businessmen and a new “drachma” for Greeks. Why not do the same in Poland? Makes perfect sense to me.

  55. avatar
    João Machado

    Poland should stay in the EU as much as everyone else will stay until Greece or the UK open the exit doors and this failed project enters its last phase, the end. Just hope the process it’s peaceful and intelligently achieved.

  56. avatar
    Max Berre

    Maintaining the status quo, or possibly adopting a policy stance similar to that of the UK seems to be in the best interests of poland’s national interest. LSE empirical studies more or less corroborate this.

  57. avatar
    Daniel Sadie

    Should France stay in the EU or withdraw from it completely? I think Poland should stay in the EU as long as it doesn’t enter the Euro.

  58. avatar
    Nick Knight

    I would only support us joining a Monterey union with like northern economies. No Greece, Italy, France Cyprus. Spain

  59. avatar
    Ivan Vikalo

    Would why we even raise this debate? Poland is a European country and belongs to the the European families. This applies to joining the Eurozone as well :)

  60. avatar
    Giossas Kostas

    Everybody who loves his own country should leave eu….europe is beutiful because of the differences…german eu is a nightmare

  61. avatar
    Ivan Burrows

    .

    The Euro is becoming a temporary currency so there is no point in joining it & with trade agreements being signed between countries around the world why stay in the decaying EU ?

  62. avatar
    Rüdiger Lohf

    It is funny to have Taler, Mark, Gulden, Zloti, Franken, Franc, Lire etc etc etc etc – but it is crazy NOT to have the Euro in the world’s stromgest economy? That is what the EU still is!

  63. avatar
    Paul Moldovan

    Entering the Eurozone is a tricky thing. From outside speaking, I think they are well developed and have a long and good experience in EU. But I do not have information or expertize in financial metters, so I cannot tell.

  64. avatar
    Chris Alexander Zervas

    It is upon Polish People to decide but if I have an option I should say : ” GO AWAY ASAP, IF YOU DO NOT WANT A SLAVERY, WHOLE OF YOUR OWN “!

  65. avatar
    Mikolaj

    Heh most foreigner agree. Well, most Polish people fortunately do not.

  66. avatar
    Ferenc Lázár

    Poland would not join the euro, because it is much safer to be in the E.U. without the euro money! Euro is good only for the strong economies.like Germany or France, the smaller or wicker economies get worse of it!

  67. avatar
    Ferenc Lázár

    No, no I’m saying that your economy and the Polish citizens would not benefit from it! Look at Slovakia or Slovenia, they both complain about it, especially the ordinary people!

  68. avatar
    Eva Benko Zoltan

    After all the auterity and joblessnes that caused us the euro, I woulnd’t advise anyone to enter the Eurozone. Man you are free , we are slaves of the Euro.

  69. avatar
    Charalambos Cherkezos

    What does the accession agreement say ? No eurozone no EU membership …….. If rules and treaties apply to countries selectively then the structure of ? is closer to its date of expiry !!!

  70. avatar
    Ecs Ferreira

    Eurozone must be a zone were EU Countries CAN easely enter if ready and go out if no forfill the criterius put by the EU parlement

  71. avatar
    Costi Ciudin

    I still believe euro was not a good idea, at least not in the way they implemented it

  72. avatar
    Charalambos Cherkezos

    When you start off from zero you can only go up ( from communism to free economy and democracy ) . The question can only be answered if sustainable growth is achieved over a prolonged time period in depth !!!!

  73. avatar
    Dimitris Stamiris

    Because every family have one or two persons working in other country …. But where you see the success in Poland ?? Have you see people sleep and die out in cold ??
    Do you know that everyone in Poland work for German company ?? And spend the money in German supermarket ???

    Germans make Poland to be the land of Germans factories that’s why Germans let Poland have low debt

    Everyone know that
    in all countries have see many polish workers !!!!!

  74. avatar
    Jacob Sienar

    GDP per capita in Czech or Slovakia, Slovenia is higher I really don’t understand what author calls a success. I am Pole myself who moved out of the country 4 years ago. reason? I didn’t see any opportunities there.

  75. avatar
    Robert Santa

    Poland is one of the top achievers of the transition period, but is it really doing that much better than other former communist countries? I fail to see how. Plus, it has some of the worse demographics (lowest TFR, hence fastest ageing process) in the entire former Eastern block. This will take a deep toll in the long-run.

  76. avatar
    Dimitar Petkov

    Boys, Poland is success compared to EASTERN european economies. The reason is that they opened the files of the secret police, whereas the Bulgarian PM was a member of it but nobody cares…

  77. avatar
    Ed Cocks

    Probably due to a stronger anti-Soviet reaction which pushed them more to the West in their political, military and economic thinking. My belief is that they simply were more than ready to reject the Communist Party methods and embrace those strategies which had worked so well in France, West Germany and elsewhere.

  78. avatar
    Dominik Kocbuch

    Poland is governed by a corrupt government which has about as much competence in economics as in anything else, and by that I mean no competence at all. The country is drained of young, educated professionals who naturally use the prerogative to emigrate West in order to access higher salaries. Alongside them, millions of workers with an outstanding work-ethic also leave the country seeking a job elsewhere. Average costs of living exceed the minimal wage by at least threefold, meaning that it is actually impossible to survive on the minimum wage. Income taxes and national insurance rates are criminal. Billions of Euros of support from the European Union have been wasted, mismanaged and disappeared in never-ending loopholes caused by a government that is corrupted to the bone, starting with the cabinet, and ending with the local authorities. Foreign businesses receive advantageous tax packages which lead to economic exploitation and more people employed on worthless contracts which do not contribute to an improvement in living standards at all. To put it briefly, Poland is an economic failure due to mismanagement and it requires an immediate change of government and a thorough process of decommunisation, effective corruption elimination and a long-term economic plan which will compel Poles to return home and support native industries. I do not know who is responsible for the creation of the myth of Poland as a vibrant and successful economy, but it ha to stop immediately, because it is not true! And yes, all this is coming from a Pole.

  79. avatar
    Vitor F Veiga

    Any country without the euro currency as more chances to attract business thanks to devaluation and low tax rates+ low salaries….

  80. avatar
    Francisco Magalhães Coelho

    developing country, which means all the expenses from the public budget comeback as gdp growth.. when the investment will stop or for reasonable levels, there wont be any success lol

  81. avatar
    Ricardo Nascimento

    Polish economic sucess ? there is a lot of poverty in Poland. Young people continue to migrate because there is no work or underemployed. Economic sucess for whon ?

  82. avatar
    João De Lalanda Frazão

    Estonia, Slovenia or the Czech Republic were probably more successful in their transition to a market economy. The reason for the highlight on Poland’s perfomance is its relative importance when comparing to the rest of the former communist economies. Warsaw is often taken as the next Madrid in Europolitical matters, i.e. a medium-big economy that’s able to project power regionally. Regarding entering the eurozone, I would only ask for former communist economies not to commit the same mistakes as Greece or Portugal in the early 90s, i.e. entering a monetary union w/o any productive structure that supports fierce foreign competition.

  83. avatar
    Paul Moldovan

    Poland began the democratical changes ten years before the other countries. Poland was much more prepared when got into EU then the other countries. The culture of the polish people also has a word to say.

  84. avatar
    Ermal Senior Luka

    becouse polish emigrants can qork all over the world without no problem even they r big truble in england and to manny places all the other countrys saffer as emigrants so this is one of the main reasons

  85. avatar
    Eva Benko Zoltan

    In Spain there are quite a few immigrants from Poland , some are our friends . They didn’t leave Poland becaouse of living well. I think that the Euro is sick because European leaders refuse to adopt Keynesian methods to get out of the crisis. The oligarqui doesn’t want ot get out of it , for them is a profit. It would be stupid from Poland to join the desastrous situation that the border countries are living.

  86. avatar
    Vári László

    Capitalism is greatest enemy of not just humanity, but life on this planet, according to any statistical data made by any international organisation

  87. avatar
    Rüdiger Lohf

    The country actually lies in the middle of Europe and the thinking has been close to the West already before the end of the iron curtain. They know a lot about economy.

  88. avatar
    Marko ZD

    How many young Poles had to leave their country to make the statistics look good?

  89. avatar
    Петър Йовчев

    Poland is so well after 25 years, because before was not so well among the SIV countries. My observation is that all of the former communist countries are progressing with almost the same speed. Warsaw finally have a metro after 50 years. Sofia, Bulgaria have a tripple longer metropolitan only in 15 years.

  90. avatar
    Cristina Santos

    Also, now we eat meat from Poland, the only place where we have money to import, if Poland change … we only will be able to eat chicken meat… think about it Poland!

  91. avatar
    Jacek Krawczyk

    Turning state owned centrally planned economy into PRIVATE free market business driven- simple, BUT very difficult. We did it.

  92. avatar
    Irene Constantinou

    I would think twice before joining the Eurozone!!! If you are doing well on your own why join???? Can’t you see that we are not equal in the EU?

  93. avatar
    Reno Zeddi

    Wages are very low compared to the european average and you call this doing well? when in Poland, like I hope, people will earn good salaries and part of the companies will be polish and not Germans, French, British and Italians only them we can talk about a Polish miracle.

  94. avatar
    Ahmed Hrustić

    Perhaps because Poland has already withdrawn the majority of the funds it is allocated by the ECB.

  95. avatar
    Parászka Máté

    Maybe because there never was socialist economies in other parts but state capitalists?And after 89 the same people continued to rule without any clue what democracy is and they wanted to keep all the money and power and influence what they had in the cold war era?

  96. avatar
    Nick Knight

    I moved from America to Gdansk. Its a great place, and the quility of life is superior to much of “western” Europe

  97. avatar
    Dimitris Stamiris

    I live there 3 years !

    1st … 35% of polish work in other country so they incoming money is lot

    2d Germany have finish the “job” there …. All factories , all supermarkets are germanys and France (one from Spain) NO ONE FROM POLAND

    3d in Polish people work in German jobs but they spend the money at German supermarkets so because the incoming from other countries you think is better and Germans give money from job and they take back from supermarkets

    Think that : from early 90s they work in other countries but they still cannot go back because all the above !!

    The same time this people know about economy because a hard past .

    So my opinion is that you think is good economy there , life is deferent !!!

  98. avatar
    Vinko Rajic

    I think it is simple they fall in love with EU and tried to develop their country to be like any other EU country , they developed economy , democracy and justice trying to become like Germans . Other countries had governments that was corrupt and nationalistic at the same time people in many countries was afraid of EU . EU is a big change for many nations that was living for themselves for long time . Many nations has difficult to accept EU and EU integration .

  99. avatar
    David Farrugia

    its a large economy and manufacturers particularly teh food industries have managed to survive the euro by offering same products as the big interenational brands but at relatively lower prices…the added input of locally made products is much higher than imported goods…Besides same manufacturers succeeded in finding new markets within the Eu free market movement, competing mainly on price but offering relatively high quality goods.

  100. avatar
    Myron Kanakis

    Simple.It is next to Russia ,so usa and their dog germany are building a shield against the russians…

  101. avatar
    Ferenc Lázár

    It is doing better than other east European countries for 2 reasons: 1. They had 1 million immigrants 25 years ago, those people had the money from west to invest in their own country. 2. They are the largest country from east Europe being let to join EU with 40 million people. However many Polls still immigrating now because of the low wages and that will leave the old generation without income..

  102. avatar
    Rudi Špoljarec

    Simple answer: They have excluded ex – mentality out of life : out of media , out of government , out of bussiness. They have excluded communism . That is the winning policy.

  103. avatar
    Máté János

    Very simple, our Polish friends – after their eyes have been opened by the Solidarity movement – had the common sense not to vote for the leftlib parties since 2004 and you could clearly see the results…

  104. avatar
    Cristina Santos

    The question should be: How will be the growth in Poland after joining the Euro? Remember that Portugal grew 3% above the European averarage before joining €. After that were a few years before being rescued. For example, we import meat from Poland due to the exchange, if Poland have € we could not import from there….

  105. avatar
    Eugenia Serban

    All the other ex comunist countries voted for left wing socialist corupt parties which ruined the economy and the hopes for development and growth. I m Romanian. I know what coruption does to us. 4,5 million young people fled the country out of a total of 8 milion active population. It s dramatic.

  106. avatar
    Luís Torre

    They are wise and the majority very well instructed… so, they can better usefull the opportunities gaven by EU… so easier like this…and learn with the mistakes of the others countries… they have too a strategic geographic position to earn more….

  107. avatar
    blugalf

    No.

    Well, ready, yes, just about. In terms of convergence criteria, that is.

    The currency union needs to be finalized now. Greece should leave of course, and so should any others who believe that to be to their advantage. The treaties should be amended as to not require anyone else to join.

    This currency union isn’t gameplay, it requires some long term commitment and a certain perseverance. Those not willing to partake in that but instead waiting on the sidelines until they can join effortlessly and to their advantage should stay out forever.

  108. avatar
    Dex

    No to Euro as Currency.As long as polish people will have their democratic right,Zloty will remain their currency.German or Slovakian are very unhappy with Euro as currency and they wish they never joined!

  109. avatar
    Anna

    Poland would reach the level of income of Western Europe much earlier .We could become a powerhouse of Europe , at least we would overtake countries like Italy or Spain . Now Poles feel deceived , that`s why we will never again believe techoncrats from eurozone and we will never join euro – maybe in 50 years , haha. We were milked once but it will not happen again . We went through a hard lesson . It was a simple plan to milk Poland from money in the year 1998 – before joining EU . Listen to that story , maybe some of you will think twice about how hard Polish people work and how easy was to steal money from us , because we beleved in what some financial tycoons told us .
    The Germans destroyed 66 % of our capital during WWII and never paid us war reperations , but they spread the false propaganda having its roots in Bismarck era that Poles were subhumans now they say we steal from them the cars – sic!. They don`t even teach the proper history at the schools . But coming back to the topic . Western European financial institutions mainly from Germany , Netherlands and the US supported by corrupt politicians of these countries founded subsidiaries in the form of Amplico Poland , ING Poland , Allianz Poland on our theritory , which founded private pension plan companies , then in unconstrained way the government transferred to their accounts in the years 1998 – 2013 a total of over 300 billion Polish money ig half of the annual GDP, nominal !These entities downloaded a total of 17 billion of US $ in net profit, without doing anything. So is it not a scam? Someone will say no …. ????
    It’s a myth.Let me explain . Half of those uprooted from the state budget money they invested in bonds issued by the Polish Treasury, carrying a zero financial risk, because as you know the bonds are redeemed after a certain period by the state, along with the dividend, or let’s say for 107% of their nominal value.
    So on this operation OFE ( private pension plan ) gained any risk in the form of a margin of 17 billion US of net profit from the purchase of bonds = 70 billion PLN from the state budget.
    And what the state had to do: borrow up money in order to issue bonds, meet their obligations to retirees having no longer part of the pension contribution in the state pension institution called ZUS , which was drained earlier to open pension funds . Btw -OFE paid for 10 years no pension, because of their deceitful campaign which urged Poles not to join OFE if they missed 10 years or slightly more years to retirement ). In this way they generated through these 13 years only profits without incurring any costs except for own costs ( toners for copiers and paper Oh .I forgot about salaries – they were huge .
    The scam was simple -the state treasury gave billions to Open Pension Funds and to fulfill its obligations they emitted bonds and these bonds were bought in turn by the state . It is like the state gave its money to the thief and then the state would have to borrow money from the bank, in which the same thief put his money deriving profit from it, not to mention what capital the thief would generate . After several years our thief would transfer this huge capital to their accounts in Germany, the Netherlands and the USA – mother companies and no trace had been found after that money . The thief would say at the end – I declare bankruptcy.Thanks for reading !

  110. avatar
    Joseph Magda

    Poland should not join the euro. The euro states share the impossible task of trying to have the same monetary policy with different fiscal policies. Not to mention immigration problems. Here in the U.S. liberal-socialists are spending our nation into oblivion. Stick with a capitalist policy and let hard work determine your future!

  111. avatar
    Don Macaluso

    As an American who spent long periods of time living in Poland, I respect and admire the Polish people and all that they have been able to accomplish. IMHO, Poland needs to stay with the Zloty and run as fast as they can from the Euro. The Euro will eventually fail, maybe not today, tomorrow or next week, but that failure is inevitable. The Euro was a false construct from day one, set up so that the larger, more powerful economies (read Germany and probably France) could suck the life out of the smaller economies and to a great extent, that’s what has happened. Even the individuals who thought up this disaster now admit it was a mistake. Poland can do just fine without the Euro and will probably be in a superb position once it fails. Stay the course Poland!!

  112. avatar
    Alexander Blums

    “The country is likely to become the third former socialist country to adopt the Euro in the next five years (after Slovenia and Slovakia), once it meets all the criteria.”

    Don’t forget the Baltic States!

  113. avatar
    WeWillFixYa

    I hope Poland, Czechia, Hungary, Sweden etc. never joins, Greece, France, Portugal, Spain leaves Eurozone, but we keep the freedom of movement and remain a confederation rather than a federation. Croats, Romanians, Bulgarians, don’t be stupid, don’t join the €! It will suck you dry! Your banknotes are part of your cultural heritage and your independence.

  114. avatar
    Fabio Abazzi

    If it joins Euro, the next thing to happen in polish economy is expensive exports. Hope Poland won’t make such a mistake.

  115. avatar
    Pierre Samu Tandorf

    Yes. Either you in the Eurozone or you might as well leave the Union. It needs to be a requirement to full fill all criteria when joining the EU, including Eurozone requirements.

  116. avatar
    Dirk Schönhoff

    Poland is strong and in political and economical means the most important country in eastern Europe. Poland has a divers economy that makes it more resistent to economical crises. That is why it has to be a member of the Eorozone. Also it tightens the Integration into the EU. Important in times when there is a hostile Russia looking for Poland. Never again!

  117. avatar
    Mille Radosi

    Euro is a problem to most of the eurozone members. In other words, they should stay out.

  118. avatar
    Joseph Bartolo

    We should return back to our national currencies with a favourable rate of exchange for all of europe and the world, as in reality as part of the world, we should be not competetive yet be in propserity or all ntions in the world and not only the European Block.

  119. avatar
    Normunds Grostins

    Sweden and Denmark voted NO to Eurozone in referendums. So Poland needs referendum – it has democracy. Poland is not latvia, lithuania or estonia where euro was forced upon people against the democracy and against people’s will

  120. avatar
    Giovanni Pasquini

    Wrong question. The right question should be: are all the €urozone-countries ready to go out from the oppressive and terrorist system offerte The €uro? The answer: “Yes, sure! Immediately!

  121. avatar
    Muscas Anne

    Is Europe the EU ready for Poland?in the eurozone??
    . It’s said no country will join for another 5/years.We shall see during that time..

  122. avatar
    Jude De Froissard

    Hope they don’t join it….they will loose their autonomy and will become economical and political vassals of Brussels

  123. avatar
    James Campbell

    It would be interesting to see the up-to-date views of the same Polish politicians in the light of the recent Greek crisis. The Eurozone is a political project and so it is up to Poles to decide if they believe so strongly in long-term political integration of the Eurozone states, even if this sometimes causes them economic hardship.

  124. avatar
    Tomasz Mazurek

    We do not want to join eurozone. Our politics and banksters – sure they do but people dont and as Janusz Korwin Mikke says we will join eurozeone in 2223 or optionally in 2222 :D

  125. avatar
    Nick Knight

    Why, with the Greece, the Uk problems, and out of control immigration. Now is not the time.

  126. avatar
    Georgi Tashev

    The Poland people reject that idea, but the politics will against the people, against the human rights, against the political terror on EU….. But the politics do not care for the people, for euro and world history….

  127. avatar
    Nando Aidos

    Is the Eurozone ready to receive another country? Is the Eurozone stable and consolidated to keep expanding and adding to its complexity? I seriously doubt it!

  128. avatar
    Dimitris Stamiris

    – 30% of polish people work in other countries
    – there is not any polish supermarket
    – there is only German factories
    – there must work 3 people in one family only for living !!!

    I LIVE THERE AND I SEE ALL I WRITE !!!!

    WHERE YOU SEE THE SUCCESS ??????

    THIS IS THE SUCCESS YOU WISH FOR EU ?? you wish everyone work for German factory for 300€ (1200 zlot) ???

    You wish everyone work Sunday like there ???

    You wish all tv and radio to be German ??

    WHAT KIND OF LIFE YOU THINK WE CAN HAVE IN EU ????

  129. avatar
    Nigel Daff

    wow – never thought about this before – but – errmmm – YES – I think I agree (^__~)

  130. avatar
    Christodoulos Mavrides

    You have brainwash everyone that EURO is must. If you have join Euro you cannot get rid of it but if you have the ability to choose then choose your local coin. Otherwise you are making Germany richer and richer.

  131. avatar
    Rüdiger Lohf

    The EU need loyal and strong and consequent partners – I am very impressed about the development in Poland. This is a strong central european country you can be glad about to have them in an allied partnership.

  132. avatar
    Max Berre

    They would probably be better off opting out. The way the EZ has responded to the crisis pales in comparison to how well the UK and Denmark have responded

  133. avatar
    CHEMTRAILS

    Poland, please do not join the Eurozone!

  134. avatar
    CHEMTRAILS

    While Poland is one of the poorest U.S. states, it is in the Dollar zone, so no need to join the Euro zone.

  135. avatar
    Patrick Crawford

    If they have any sense they will stay as far away from EU membership as possible, The EU has done nothing for Ireland, Politicians will argue that if Ireland never joined the EU we would not have certain things that we have today, The reality is that for everything that we as Irish citizen’s received from EU membership, It was taken from us again by means of tax’s, The only people who have gained anything from membership of the EU, Is our Politicians, Banks and wealthy business people to whom we as citizens are funding their high flying lifestyles through tax deductions from our wages each week. By signing up to become a member of the EU, Poland can expect to loose whatever state assets & Natural resources they have within their country, There are plenty country’s just like Greece that can back this up.

  136. avatar
    Anna Garner

    I have nothing against Poland and for that reason I would never wish they join the E.U FOR YOUR OWN SAKE PLEASE VOTE NO!!!!! We (Cyprus) Curse the very moment we joined please say NO PLEASE STAY OUT OF THE E.U IT WILL DESTROY YOUR ECONOMY!!!! You will do soooo much better without the fucked up e.u

  137. avatar
    Maggie Winiarczyk

    Excuse me but please note that Poland is already a member of the EU. Don’t confuse the EU with the Eurozone! It’s just a bit embarrassing to not know the difference.

  138. avatar
    Joao Yohanan

    If they are wise, they stay out of the euro!
    They had enough of “german troubles” in the past to want that.
    Why give up your monetary police when it s working like crap for other countries?

  139. avatar
    Myron Kanakis

    i m gonna keep calling you fascists bureaucrats becouse this is what you are.It was a couple of months ago that Polish people voted against the euro…So what s the meaning of doing that debate?Brainwash?Why dont you ask if Iceland should be a part of eurozone ,it would be a better joke…Or why dont you ask if Germany should go out of the common currency,that would be good for europe…

  140. avatar
    Maggie Winiarczyk

    I’d say that this debate is perfect breeding ground for Greek anti-German propaganda! Anyone want to debate that?

  141. avatar
    Ander Anderson

    Patrick Crawford ,Anna Gardner,The discussion is about whether or not Poland should join the Eurozone or not about membership of the EU ,they have been members of the EU for the last 10 years .The EU hasn’t destroyed any economies because in the case of Greece ,it were there own corrupt politicians that destroyed that thought that by borrowing money to get out of debt and now the Eurozone countries have save them from being Bankrupt ,Cyprus is now ruled by the Russian Mafia because they own most of the hotels and shops on Cyprus

  142. avatar
    Maggie Winiarczyk

    Dear all I propose we just dismantle the EU and give Europe to all the migrants and the IS can rule with their own currency. And then we can stop debating because they’ll just chop our heads off for that!

  143. avatar
    John Anderson

    Poland is successful exactly because it hasn’t joined the eurozone. Hope its government will be smart enough not to ever join the European disaster.

  144. avatar
    Amaury Cprs

    Wouldn’t the real question rather be : is Eurozone ready to take new members ?

  145. avatar
    Omid Danesh Khorak

    Are you kidding me! You didn’t fucket with already members in the zone, you want add Poland to the list too ! ! !

  146. avatar
    Глобалността и ние

    If Poland wants to go bankrupt, why not?If there is no common state must not have a common currency.Eurozone will either break with a bang, or countries it will be forced to integrate to the extent of a country like the United States. Average way to European paradise does not exist today

  147. avatar
    Maciej Kukier

    God forbid, ofcourse no. The euro is falling apart, why would we want to enter a burning bulding?

  148. avatar
    Alan Gallop

    Is Poland ready to join the Eurozone? Depends on how many refugees they are prepared to take….

  149. avatar
    Ander Anderson

    Alan Gallop What has taking in refugees have to with joining the Euro ,19 countries already use the Euro and when they joined they weren,t asked how many refugees will you take .the history of the Euro goes back to 1991 when the agreement was made by 11 countries and in 2002 it became legal tender in those countries

  150. avatar
    Georgi Tashev

    The real problem here is that EU is hungry for new slaves, and will do all to make the Poland next slave country.

  151. avatar
    Piotr

    well, euro will probably start to fall in some years, so Poland should keep zloty

  152. avatar
    Chinkychow

    Poland! Do not be DUMB! Do not join the Eurozone!

  153. avatar
    Mahmoud Bay

    Joining the Eurozone now will hinder Poland’s current Golden Age. The country is growing well and even European countries exporting to Poland are enjoying this trend. The benefits of staying (momentarily) outside the Eurozone outweighs the benefits of joining the club. Poland should stay in complete political, financial and fiscal control of its economy to sustain the growth trend expected for at least the next 5yrs.

  154. avatar
    Rudi Špoljarec

    Not neccessary .If they have stable value and monetary sistem , why would they join it?? No need. For their good.

  155. avatar
    Konrad Tuszynski

    The euro has damaged many countries in the European Union, mainly by hurting the working class, stay away!

  156. avatar
    Albinas

    Surprises me how UGLY and DESTRUCTIVE the Euro is. Only Germany benefits from it. After joining the Euro prices went up 300% in Lithuania and now Lithuanians have Portuguese salaries and Swiss prices. The Eastern Baltic countries all joined the EURO only because they are too small? But how about Iceland and Luxembourg? Poland should not join the EuroZone. I love to see the Lithuanian-Polish king JOGAILA on the Polish zloty banknotes. I congratulate the countries such as Czechia, Magyarorszag, Polska for being the true erudites regarding the New World Order and its policies destroying cultures around Europe by mass illegal immigration, euro and other totalitarian measures.
    Stay away from Eurozone. I hope Portugal, Greece, Italy, then France leaves the Eurozone. What will remain of te Eurozone will be the Finland with the Baltic Countries, Germany, Nederland, maybe Ireland, also Austria? That’s about it. It is enough to have a lose economic union and a Schengen Zone. Europe should remain multicultural in a way that it is European-multicult and not another US.

  157. avatar
    Nikos Themelis

    If i wanted to destroy Poland,i would recommend them to join the Euro.
    Because i am not an a**ole though,i advise them to stay the hell away for the currency as possible.

  158. avatar
    Albinas

    It is time to create a new Union or Confederation of Fair Economies including all former USSR countries including especially Central Asia (for spice and culture), Caucasus, Russia, Mongolia, also include Turkey, Kurdistan, maybe even Syria and Lebanon, Lithuania, Poland, Ukraine etc. probably western Europe as well, if they want to, but under our conditions, without pyramid schemes, without chemtrails, satanism, without narcotics, evil movies for our kids, without false flag attacks and inside jobs and without the infamous NWO. Instead of socialism or capitalism I would call it a Fair Free Economy instead, or Fairism. Such a Confederation will NOT have one currency. It will have many cultures, many currencies, but one purpose, to create beautiful, clean and fair life and environment for everyone in free market fair conditions with small business and NO large corporations and goodness without evil. Perhaps the EU can transform into such society and attract Central Asia countries to join? Get away from the influence of the ridiculous United States influence. It is best to rename it Eurasian Confederation.

  159. avatar
    Albinas

    P.S.: Or even better, each and every country remains on its own with good and fair neighbourhood policy and develops its own culture, without any wars and conflicts. Political correctness and cultural mixing in one country does not seem to work. The differences will always develop and exist and that is a natural process. One thing I would vote aganst, – the €uro. It’s out and national currencies in.

  160. avatar
    Jim Barsh

    POLAND SHOULD HAVE NOT BEEN ALLOWED TO JOIN THE EU, UNTIL IT RAISED IT’S MINIMUM WAGE FOR WORKERS.
    THAT WAY YOU WOULDN’T HAVE THIS MIGRATION PROBLEM OF ALL THE YOUTHFUL PEOPLE OF POLAND ESCAPING AND WORKING IN WESTERN EUROPE. THEY NEED TO SORT THEIR OWN COUNTRY FIRST.

  161. avatar
    Peter Johnson

    That would benefit Poland itself as it would not be losing lots of people to emigration. Poland, Hungary, Czechia, Denmark, Sweden, UK etc. should NEVER join the €urozone. Never. For their own benefit.

  162. avatar
    GREG

    Yeah the free trade within Europe has been highly beneficial however the benefits of the free movement of people has not been widely appreciated.
    Raising the minimum wage would of course result in higher cost of doing business and a reduced standard of living as inflation and unemployment both rise.
    The European economy is dragging the world down and if wasn’t for the developing countries in Africa and Asia then the economy would be even worse off.
    In fact Europe would do well to check out the business opportunities with those parts of the world that are now thriving thanks to free trade.

    The European Union experiment has worked well up to a point however is now due for a renewal with less central governance

  163. avatar
    Peter Johnson

    Antarctica is a good new member to join…. it would cool down brains of the Brussels bureaucrats.

  164. avatar
    nick

    i want euro come in poland then poland people’s not running outside 4 work

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