The central bank is much more likely to tolerate a strong currency because of inflation. The market is speculating the koruna will gain.
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Investors are beginning to see Poland in an unfavorable light and that's because of politics. Bad policy could turn good fundamentals into bad fundamentals.Lars Christensen
This will give the government some breathing space and bring short-term relief to the market. Although we still have to find out what deals were made to bring about this vote, the zloty will rally on this news.
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We see a substantial risk of a financial crisis as an integral part of an Icelandic 2006-2007 recession. The funding squeeze of the banks will probably force them to reduce lending to domestic players, and force a sell off of external assets.
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People want to have an experience when they take a shower. They want to enjoy themselves in a standing spa. But they don't have the time to lay in a whirlpool for a half-hour.
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