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Europe After The Lisbon Treaty. Strategies for the Future

he subject of a new economic model which would ensure a return to growth in times of scal consolidation was discussed by: Paweł Świeboda, President of Demos Europa, Center for European Strategy, Witold Orłowski, Chief Eco- nomic Advisor at PricewaterhouseCoopers in Poland, Mario Monti, President of the Bocconi University in Italy, Marek Belka, President of the National Bank of Poland, Sławomir Sikora, President of the Board at Bank Handowy in Warsaw, and Maciej Wi- tucki, President of the Board at Telekomunikacja Polska S.A. Participants in the panel assessed perspectives for the European economy in the context of global compe- tition with both developed and emerging economies. They exchanged opinions about new sources of economic growth and the role of state and markets in this process. They discussed further steps which should be taken within the framework of the reform of the European macroeconomic management system. T

inancial issues have always been discussed at the Economic Forum. Repre- sentatives of the largest nancial institutions took part in the discussion on causes and consequences of the current crisis. The banking sector bears considerable responsibility for the economic crisis of re- cent years. It showed incredible connections between real economy and the nan- cial sector. F K rzysztof Kalicki, President of the Board at Deutsche Bank Polska S.A., conc- luded, however, that “no crisis in the world has ever been caused solely by independent banking operations but it is embedded in central banking and monetary demand. The United States implemented an unconventional monetary policy at the beginning of the 21st century by pumping money with a low interest rate, which created the situation that the money had to be used and banks used it for granting cheap credit.”

Krzysztof Kalicki, President of the Management Board, Deutsche Bank Polska S.A., Poland Mateusz Morawiecki, President of the Management Board, Bank Zachodni WBK, Poland Zbigniew Jagiełło, President of the Board, PKO Bank Polski, Poland


Economic challenges of globalisation


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