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Hungary's economy 'very grave' Poland may be next


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peterwegThreads: 35
Posts: 1,997
Joined: Feb 16, 07 ♂ 		 Jun 8, 10, 11:40    #91
jwojcie:
Flood is destroyer of wealth but on the other hand sometimes it is a spark off economic activity. Which means that paradoxically it can move GDP up... The perfect example of such economic phenomenon is Wroclaw and flood of 1997 wich induced economic activity of this town. Simply a lot of renovation needed to be done. All this unworking capital which people stored under the mattress came out because a lot of new stuff had to be bought. We will see how it will be this time.



And any insured loss will mean income from the insurance companies, which is effectivly the UK re-insurance market.

So a 10billion pln loss may mean a 5billion (assuming 50% insured) injection of cash from abroad.
hague1cmaeronThreads: 21
Posts: 1,652
Joined: Mar 30, 10 ♂ 		 Jun 8, 10, 12:45    #92
This is what the recently elected Hungarian Prime minister thinks of the Polish economy.

The head of the Hungarian government congratulated Poland on its good economic condition. – If a Hungarian comes to Poland now, he is simply jealous because Poland managed to score a success in a field where we failed – he said. – Today the entire Europe looks at the condition of the Polish economy and the successes of Polish government with great esteem. Without a positive Polish example we would see a very negative picture in all of Europe – he added.
SeanBMThreads: 41
Posts: 8,727
Joined: Mar 10, 08 ♂ 		Edited by: SeanBM  Jun 8, 10, 12:53    #93
bolek:
Did any person suspect that Hungary was the next to fall?

SeanBM:
Actually yes, Hungary has been doing quite badly since the beginning of the recession.

bolek:
You now say you knew about Hungary being in dire straights, well doing a search on previous discussion points does not reflect this.


I want to back up my statement, that it was obvious for everyone in Europe, who knows what's going on, that Hugary was in deep trouble even a little before the recession.
As opposed to you saying on a whim that "search on previous discussion points does not reflect this."

2006 protests in Hungary of Ferenc Gyurcsány's speech in Balatonőszöd in May 2006 turned in to riots.

Perhaps you should read about Poland's and Hungary's economic situations and recent history before posting about them Bolek.

A very interesting article (I will try and dig it out but it isn't easy for me to google Polish sites to find what I am looking for) was about Poland being one of the very poorest countries coming out of communism.
This led to many communist companies going bankrupt because there wasn't money to sustain them.
Whereas, by stark contrast, countries like Hungary subsidised their (post) communist companies.
This has helped Poland a great deal, as it "cut out the rot" and they had to deal with the problem years ago.

By "communist companies", I mean state run companies that were a residual effect of communism.
And communism's 'Zero unemployment' meant that everyone was employed, even if they were unnecessary.
Most (if not all) of these comanies were non-compeditive during and after communism.
So when they could no longer be sustained under communism, the companies and all the workers, would be subsidised.
Poland couldn't do this because it was too poor and it has had a lasting positive effect.
ConstantineKThreads: 35
Posts: 1,949
Joined: May 10, 07 ♂ 		 Jun 8, 10, 13:18    #94
Hungary's economy 'very grave' Poland may be next


We can't wait to see it!
SeanBMThreads: 41
Posts: 8,727
Joined: Mar 10, 08 ♂ 		Edited by: SeanBM  Jun 8, 10, 13:18    #95
SeanBM:
A very interesting article (I will try and dig it out but it isn't easy for me to google Polish sites to find what I am looking for) was about Poland being one of the very poorest countries coming out of communism.
This led to many communist companies going bankrupt because there wasn't money to sustain them.
Whereas, by stark contrast, countries like Hungary subsidised their (post) communist companies.
This has helped Poland a great deal, as it "cut out the rot" and they had to deal with the problem years ago.


Leszek Balcerowicz and his Shock therapy (economics) for Poland.


Comparing Poland to other ex-commie countries is a positive story.
ZiemowitThreads: 10
Posts: 1,063
Joined: May 8, 09 ♂ 		 Jun 8, 10, 14:33    #96
ConstantineK:
Hungary's economy 'very grave' Poland may be next

We can't wait to see it!

Everyone here knows that you can't, ConstantineK. You are so monotonously predictible in your opinions that I'd be shocked if you stated otherwise. But, to let your imagination develop a little, try to figure out what would happen if all the gas that Mother Nature gave to Russia evaporated and Gazprom suddenly collapsed.

Leszek Balcerowicz and his shock therapy was a disgrace to populists in Poland. One of them was Andrzej Lepper of the populist party "Samoobrona" who repeatedly used to say "Balcerowicz musi odej¶ć". Instead, the poor creature Lepper has slipped into political emptiness, despite the fact that he stands for the presidential election in 2010 with a good chance to win about 1% of the total vote.

Populist gained territory in Greece, Hungary (and perhaps in Portugal and Spain; in Russia they sell gas and oil) instead, but we should still watch out for them in Poland. There's plenty of them, even here on the PF.
SeanusThreads: 22
Posts: 30,158
Joined: Dec 25, 07 ♂ 		 Jun 8, 10, 14:35    #97
Ziemowit, you didn't point out the contradictions in my early post. What did you disagree with?
ConstantineKThreads: 35
Posts: 1,949
Joined: May 10, 07 ♂ 		 Jun 8, 10, 14:53    #98
Ziemowit:
But, to let your imagination develop a little, try to figure out what would happen if all the gas that Mother Nature gave to Russia evaporated and Gazprom suddenly collapsed.


We shall sell you water...however you have it enough today...
southernThreads: 116
Posts: 10,955
Joined: May 17, 07 ♂ 		 Jun 8, 10, 15:13    #99
Poles are severely affected by crisis.Girls ask me for money unstoppable.
ConstantineKThreads: 35
Posts: 1,949
Joined: May 10, 07 ♂ 		 Jun 8, 10, 15:19    #100
southern:
Poles are severely affected by crisis.Girls ask me for money unstoppable.


And you? Oh I forgot, greece is in trouble as well
ZiemowitThreads: 10
Posts: 1,063
Joined: May 8, 09 ♂ 		 Jun 8, 10, 15:20    #101
ConstantineK:
We shall sell you water...however you have it enough today...

We shall not buy it. As you've said, we have for free! ... contrary to your precious gas!
southernThreads: 116
Posts: 10,955
Joined: May 17, 07 ♂ 		 Jun 8, 10, 15:21    #102
ConstantineK:
greece is in trouble as well


Yes and Russia does not give a ruble for support.Anyway.
ConstantineKThreads: 35
Posts: 1,949
Joined: May 10, 07 ♂ 		 Jun 8, 10, 15:33    #103
southern:
ConstantineK:
greece is in trouble as well

Yes and Russia does not give a ruble for support.Anyway.


Why we should? Ask your Europe (especially Germany) and US, your faithful friends, for support.
Pinching PeteThreads: 1
Posts: 1,111
Joined: Feb 23, 08 ♂ 		 Jun 8, 10, 15:36    #104
ConstantineK:
and US


Uhh no.. F*ck that. Russian always vacation there .. you do it.
SeanusThreads: 22
Posts: 30,158
Joined: Dec 25, 07 ♂ 		 Jun 8, 10, 15:53    #105
Poland also has plentiful supplies of gas so that will keep the economy healthy in the event of any downturn.
peterwegThreads: 35
Posts: 1,997
Joined: Feb 16, 07 ♂ 		 Jun 8, 10, 20:09    #106
Seanus:
Poland also has plentiful supplies of gas so that will keep the economy healthy in the event of any downturn.


Poland is expected to become a major exporter of gas.

That will **** off the Russians.
ConstantineKThreads: 35
Posts: 1,949
Joined: May 10, 07 ♂ 		 Jun 8, 10, 20:31    #107
peterweg:
That will **** off the Russians.


Do you mean frat gas?
SeanusThreads: 22
Posts: 30,158
Joined: Dec 25, 07 ♂ 		 Jun 8, 10, 20:33    #108
Well, all's fair in love and war! Business is business! They will still have markets. Putin is constantly looking to expand and has many interested parties. Gas is a fairly conventional natural resource and I remember him giving a conference shortly after the Gasprom affair where he revealed more willing buyers.

Poland will not cast the net out so wide and will probably play ball rather than hardball.
bolekThreads: 10
Posts: 369
Joined: Sep 13, 08 ♂ 		 Jun 9, 10, 07:19    #109
peterweg:
What has posting on here got to do with it. Hungary's dire financial situation is not new, they have already been bailed out by the IMF, just becuase you have no idea about it doesn't make it 'new'.


Don't treat people like fools, we all know that all countries carry a huge debt, the point being is that the Hungarian government covered the severity of it, is Poland doing the same?

Talk of insurance claims bostering the economy sounds great, but have you considered that things will go up as a result including house and motor car insurance, undoubtedly people on low income will be hardest hit.
peterwegThreads: 35
Posts: 1,997
Joined: Feb 16, 07 ♂ 		 Jun 10, 10, 12:40    #110
bolek:
Don't treat people like fools, we all know that all countries carry a huge debt, the point being is that the Hungarian government covered the severity of it, is Poland doing the same?



I'll treat you like a fool is you make claims based purely on your opinion and with nothing to back your opinion, like facts.

ConstantineK:
Do you mean frat gas?



I mean Shale Gas, as the US term it. Fractured shale.
southernThreads: 116
Posts: 10,955
Joined: May 17, 07 ♂ 		Edited by: southern  Jun 10, 10, 15:44    #111
Middle class inflated egos are about to deflate.These baloons have no future.We will create a hell for them like the one they planned for us.Once you get into the storm,no way out.

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