Poland is becoming the number one supporter of further European expansion.
Why would I invest in you if you’re simply going to say you should never have let me do so in the first place?
Although its membership in the European Union remains a cherished fact for most Poles, the euro’s appeal to the Poles has decreased dramatically.
We have recently covered Latvia’s determination to advance into the eurozone despite popular opposition to the idea. In Poland, the popular discontent is there, but as a result, euro accession there may be a decade or more away.
With Europe in recession, the East will face continued tough times. However, even today some countries and some companies are doing well. With the right policies, the region can prosper in spite of the West’s difficulties.
Countries in Central and Eastern Europe are well-positioned to benefit from a new wave of outsourcing and datacenter development. Over time the former Soviet states could create their own mini-Silicon Valleys.
States which only two decades ago escaped their forced Soviet embrace grew mightily from their increased contact with the rest of Europe. But they remain vulnerable to chills emanating from the Eurozone.
In the first half of 2012, private equity firms raised more money in Central and Eastern Europe than they did all last year, the greatest increase since 2008. Investors obviously expect future growth in the region.
The increasing cooperation between Poland, Lithuania, and wider Eastern Europe on energy could be one reason why Moscow has been seen recently as trying to drive a wedge between the Baltic neighbors.
June opened with a shadow war against two former Eastern Bloc hostage nations by the British media and the governments of some EU member states. It closed with proof that the countries could be and were good citizens of Europe.