Is Poland’s Premier Leading his Country into a New Slavery?
As most Polish citizens can hardly fail to notice, Europe is experiencing a time of growing economic turmoil. So much so, that leaders of euro zone countries are now desperately searching for ways to prop up their tottering national economies as well as to maintain commitments to what is termed ‘monetary union’ – the euro zone holy grail.
Countries outside the euro zone also find themselves caught up by the effects of the gathering financial storm and are attempting to pitch their camps as appropriately as possible to deal with it.
But one thing that countries both inside and outside the euro zone share is a common problem of ‘debt’.
Levels of national borrowing (sovereign debt) have, over the past decade, exceeded the ability of many countries to pay back the ensuing interest and capital within permitted time zones, thus catalysing the ‘restructuring’ of these loans by the lenders and the setting of new terms for repayment. The ‘lenders’ are thus put in a position of great power: they can pull the strings and set the agenda – so long as the countries which are borrowing wish to maintain their particular monetary policies and ambitions for ‘economic growth’.
Poland, however, finds herself in a position of reasonable resilience to the euro zone storm. With an economy that is largely internally stimulated and not overtly reliant on exports, the country looks in fair shape to resist at least the worst consequences of the black hole which the euro zone is rapidly turning into.