Global Economic Crisis Posted by Anna on Feb 27, 2009 in Culture, Vocabulary
But people from near and far have been asking me just how bad (or good) it is in Poland right now when it comes to financial and economic matters, so I thought I’d talk about it very briefly today.
I’m not an economist and I can’t offer you any predictions (only very uneducated guesses) as to how badly this economic downturn will affect Poland.
My father was one of those early “conspiracy theorists,” who mumbled under their noses that the złoty was being purposely weakened thanks to shenanigans by foreign banks. I dismissed it, because I thought that’s what currencies are supposed to do, they get stronger or weaker all the time. But last week it turned out my dad had been right all along. Goldman Sachs admitted to doing goofy things to keep the złoty purposely undervalued.
But what does this mean for the average man on the street? Apart from all the financial mumbo jumbo spouted by the so-called experts, journalists and everybody who’s anybody caught on camera, the red graphs shown on TV and printed in almost every newspaper, and all sorts of doomsday predictions, not that much has changed, really.
It might be hard to fathom but for many Poles the country has been in a state of perpetual economic crisis at since the fall of communism, if not for longer. How is this crisis different?
Prices have gone up somewhat, but they’ve been going up in the best of times, too. People complain about the economy, but they’ve been complaining about the economy in the best of times, too.
Despite hearing all the bad news from across Europe, my friends still intend to go abroad to find work. Crisis schmisis, life goes on.
- kryzys (noun, masc., pl. kryzysy) – crisis
- kryzys gospodarczy – economic crisis
- gospodarka (noun, fem., pl. gospodarki) – economy
- kurs waluty or kurs wymiany walut – foreign exchange rates
- ogłosić upadłość – to declare bankruptcy
- cena (noun, fem., pl. ceny) – price
- pożyczka (noun, fem., pl. pożyczki) – loan
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