English
Obserwator Finansowy features views and analysis of economy in Poland and other countries, written by some of the best journalists, economists and analysts. Our mission is to share knowledge of economics and financial markets in the world.
Obserwator Finansowy is a project under aegis of the Poland’s central bank, Narodowy Bank Polski. We have published thousands of articles about the Polish and global economy. Our journalists have conducted hundreds of interviews with Nobel laureates, distinguished economists, business leaders and politicians with views across the political spectrum.
In this section you can find selected articles in English.
Many a thing can be found in the State’s safe
Witold GadomskiAt the end of September at the latest, a draft budget for 2013 will be submitted to the Sejm. Due to the economic slowdown, it may be difficult to implement it, but this does not have to be so. The budget has many safes with...
Poland’s debt to the world keeps increasing
Piotr AleksandrowiczThe joy over the record low interest obtained by the Polish government when selling the dollar bonds for USD 2 bn seems justified. Unfortunately, only at first glance.
Antczak: Let’s join the euro area, as we are already bearing the costs, after all
Marek PielachWe are reducing the deficit because financial markets are very sensitive to its level, but we are not joining the euro area. Accordingly, we are losing the “umbrella” of the ECB, a chance for the economy to operate in...
FOR: In Poland, the retirement age is being raised too slowly
Krzysztof NędzyńskiAs far as the changes in pension system are concerned, we may learn the most from the Czechs and Slovaks. Surely, we should make every effort in order to prevent the government from nationalizing funds gathered in the second...
Pessimists predict a crisis of the economy, optimists see chances
Maria Drozdowicz“The era of optimism dies in the crisis, but in dying it gives birth to an era of pessimism. This new era is born, not an infant, but a giant”. Both optimism and pessimism underpin the fluctuations of business cycles....
There are no true hawks any more
Witold GadomskiWhen Wayne D. Angell, who passed for the one of the Fed’s most vigorous inflation fighters, left the Fed in 1994, one of the American newspapers commented on his resignation – Angell leaves, the demon of inflation...
Shadow banking, or who is a bank and who is just pretending
Witold GadomskiThe collapse of Amber Gold has generated a number of calls for liquidating parabanks or bringing them, on a mandatory basis, within the scope of oversight. However, identifying financial institutions that are not subject to...
The Earth was created 5770 years ago at 6.00 PM
Krzysztof NędzyńskiThe precision of this statement puts a smile on our face. It exemplifies how incredible are exact conclusions from opaquely understood premises. Reuven Brenner of McGill University shows when, why and how economists are...
The road to hell is paved with good intentions
Krzysztof NędzyńskiIf Warren Buffet failed to fix the compesation system at Salomon Brothers, how can one expect government bureaucrats can regulate bonuses in banking? How to compensate is one of the toughest issues to solve in every...
To Own Or Be Owned — That Is The Question
At the very center of the never-ending debate between those who support capitalism and those who support socialism is this: property. Should it be „owned” and if so, by whom? The fact is, „ownership” as...