Poland During the Crisis: A ‘Green Island’ Approaching the Euro Area?

Poland weathered the global crisis that started in the summer of 2007 remarkably well. Contrary to many other countries, both European and non-European, developed and emerging, she has not suffered from recession, even in the most difficult growth period, 2008–2009. Because of the country’s economic success the Polish government (followed by some local media) labelled her a ‘green island’ (as opposed to a red-coloured sea, symbolising European countries in recession).