Business, Special Economic Zones in Poland
Today Agency downgraded the long-term assessment of the credibility of the Cypriot papers from BBB- to BB+ and short-term from F3 to B. The prognosis is negative.
"Lowering the rating reflects a significant increase in the capital which banks in Cyprus need, in comparison with the assessment of January – we read in communication of Fitch Group. The Agency adds that apart from 1.8 billion euros which are necessary for Cyprus Popular Bank it also needs up to 4 billion for recapitalization of other financial institutions on the island.
Even in case Greece remains in the euro area, Cyprus banks will suffer losses in the intermediate perspective. The reason will be a recession in the economy - Fitch analysts wrote.
They estimate that this year the national debt exceeds 100 percent of GDP but budget deficit – 3.9 percent of GDP.
"What is needed is a major financial reform (...) in order to raise productivity and competitiveness of the economy '- Fitch added.
In mid of June, the authorities in Nicosia appeared to Russia for a loan of 5 billion euros for 5 years. Moscow has not decided yet but there is no output, because Cyprus' interests are led by hundreds of Russian companies, there are about 50 000 Russians and companies registered the largest corporations. The Russians are also co-owners of the local banks (e.g. oligarch Dmitry Rybołowlew is co-owner of the biggest Bank of Cyprus).
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How to become a sworn translator?
Perhaps not everyone knows but the profession of translator, like the medical profession, require taking a solemn oath. Interpreters agree that they will perform their profession with ethics, impartiality, remaining trade secrets.
However, before taking an oath, potential candidates must overcome a long way.
Excellent knowledge of chosen language is not enough.
Many Poles go abroad to seek work. Then a very important element is to have the appropriate application documents, including the biography. How should you write it in order to form complies with the needs in Europe?
Sudecki Association of Employers was founded in 1992. Among its the main activities are representing and protection of interests of united members before labor unions, governmental and state institutions as well as local governments. The union takes part in such activities as designing and starting new businesses, which aim is reduction of unemployment. It also collaborates with institutions, which mission is preparation and granting regional businesses beneficial conditions, so that they would be able to compete with other companies on the European market. It support companies in applying and acquiring Structural Funds.
read more... Let us join eurozone as soon as possible! There are more benefits than disadvantages.
According to Janusz Lewandowski the decision whether Poland will join the euro area may already be taken in spring. Tadeusz Mosz has no doubts about the necessity of joining the eurozone by Poland and he also believes that the country should do this as soon as possible, although not all of the formal conditions are complied yet. During an interview recorded by TOK FM, the chief noted that even though Poland does not comply with all the conditions, it should negotiate them.
One of the reasons of the downturn in economy growth is the drop in internal consumption. Polish society is getting poorer and people can afford less and less. In the meantime, according to the latest information the growth of salaries of the board of directors in join-stock companies in 2011 increased in 18%, and the growth of salaries of these companies’ chairmen increased in 20 percent. Apparently, there is no social solidarity in Poland. Social differentiation is slowly and systematically deepening. According to data from 2008 – 20 percent of the richest part of Polish society is 5,1 times richer than 20 percent of the poorest part of this country. If we take into consideration data relating to the growth of salaries, the increase in disproportion will be more obvious.