"The problem with socialism is you eventually run out of other people's money" - Margaret Thatcher
"The curious task of economics is to demonstrate to men how little they really know about what they imagine they can design" - F.A. Hayek
Monday, December 26, 2011
Poland side steps the whole rotten Euro mess and thrives. Thanks again to Dr. Rothman.
I come from Warsaw and my friends "on the ground" say is not as good as the macro numbers indicate. A lot of people have loans in foreign currency, especially Swiss Frank, so individuals and small business suffer quite a bit. The exchange rate has been pretty bad lately: http://www.google.com/finance?q=CHFPLN
I hope we do not go this route: http://globaleconomicanalysis.blogspot.com/2011/12/hungary-downgraded-to-junk-expect.html Still, I am very happy that Poland is not part of EURO yet. Under current conditions having its own currency seems a huge benefit for any country in Euro zone.
I come from Warsaw and my friends "on the ground" say is not as good as the macro numbers indicate. A lot of people have loans in foreign currency, especially Swiss Frank, so individuals and small business suffer quite a bit. The exchange rate has been pretty bad lately:
ReplyDeletehttp://www.google.com/finance?q=CHFPLN
I hope we do not go this route:
http://globaleconomicanalysis.blogspot.com/2011/12/hungary-downgraded-to-junk-expect.html
Still, I am very happy that Poland is not part of EURO yet. Under current conditions having its own currency seems a huge benefit for any country in Euro zone.
From a Pole - thanks for the post!