Obserwator Finansowy features views and analysis of economy in Poland and other countries, written by some of the best journalists, economists and analysts. Our mission is to share knowledge of economics and financial markets in the world.
Obserwator Finansowy is a project under aegis of the Poland’s central bank, Narodowy Bank Polski. We have published thousands of articles about the Polish and global economy. Our journalists have conducted hundreds of interviews with Nobel laureates, distinguished economists, business leaders and politicians with views across the political spectrum.
In this section you can find selected articles in English.
Have Russian leaders underestimated a rival again?Thomas Grennes
The invasion of Ukraine by Russia has produced many surprises. Most observers have expressed surprise at the strength of resistance by Ukraine and its supporters. Underestimating the strength of Ukraine has been described as...
The international economic sanctions on the agressor in the war in Ukraine are a game changerDr Marzenna K. James
More capable of addressing political blackmails in foreign trade, they not only effectively help Ukrainians fight in defense of their country, but also provide other countries with better protection from similar invasions.
An almost perfect workPaweł Kowalewski
One of the three new winners of the Nobel Prize in Economics funded by Sweden’s Riksbank, Ben Bernanke, likes challenges – his biography, and above all, his achievements, are proof of this. For this reason, when speaking...
Croatian road to the euro: Test driving the new ERM II setupBoris Vujčić
A quip on Balkans producing more history than it can consume, famously but incorrectly attributed to Churchill, is a good description of the Croatian history towards the end of the 20th century. However, at the turn of the...
How Can the War EndHarold James
The complete shutdown of gas deliveries through Nord Stream 1 is an indication of how desperate the Russian leadership has become. There is now no path to military victory, but a clear chance that intensified economic...
A brave new world of payments – the role of central banks
Recent years have seen important changes in the payments landscape. Cash usage has been declining in many countries for some time, and this trend has accelerated during the pandemic.
Ukraine – the evil we are witnessing cannot be allowed to triumphGordon Brown
No country has done more than Poland to support the people of Ukraine and especially those driven from their homes by President Putin’s unprovoked aggression.
Building a resilient and sustainable economy along with today’s energy price boomPierre Wunsch
The adjustment towards a decarbonised economy is being challenged by booming energy prices linked to the geopolitical tension on Europe’s eastern border.
The end of the era of cheap public borrowingCharles Wyplosz
For well over a decade, governments in the developed countries have been borrowing at very low interest rates, sometimes even at negative rates. This is going to end, and probably for a long while.
We are able to contain inflationObserwator Finansowy
I think that we are able to contain inflation by hiking interest rates. There is always very kind of… for a small open economy like Iceland, and Poland is to some extent too, also an open economy. The currency market...