The reaction of markets remains moderate sum

How do you explain the fact that the Poland is still growing in 2009 Was it only the chance to have a large internal market

There is nothing to see. If we are the only country in the European Union should have growth in 2009, and even one that will be the best performance of any OECD this year, it is not because of a so-called low dependence on exports. They represent 40 of our GDP, which is more than most of the major European countries (except the Germany). No, this good result is first to our banking system. Thanks to strict supervision, the level of credit remained reasonable, and credits in foreign currency have remained limited, unlike the other countries of Central and Eastern Europe.

But I must also say that we continued macroeconomic and fiscal policy reverse one of the major Western countries. Instead of putting in place a major recovery plan, we have, instead, decreased public expenditure of GDP 1 point.

In crisis, how do you explain that it was not dried Polish households consumption

Our conservative policy has created a context in which the natural forces of the market economy could operate. Our belief is that the credibility of economic policy is much more important to support the activity, and in particular the consumption of households, as Keynesian expansion. It is vital that economic agents find that economic pilotage is prudent and responsible, rather that they be encouraged to expenditure in the context of concern. When households have fear of the future, you can inject as much money in the economy that you want to, you do not prevent saving...

So, the sky appears to darken. The projected budget deficit for 2010 will almost double over one year and the markets worry...

The reaction of markets remains moderate sum. Frankly, a decrease of 2 zloty, this is not the end of the world. On our deficit, it is important to compare the same elements from one country to another. If you accumulate the overall deficit of public administrations, we will go from 6 in 2009 to 7 in 2010. This increase of 1 point of GDP is to compare with the 1.3 point of GDP in the euro area and 1.2 point of GDP in the rest of the European Union. Therefore one cannot speak of disturbing skid.

What proportion of loans in foreign currencies, including the recent increase in concern also markets

First, let me return to the figure advanced by Standard & Poor's. The proportion of these loans would have supposedly increased 10 points of GDP. Must specify that it is over a period of 17 months, and not one year, and that this increase is mainly linked to the devaluation of our currency, the zloty, which is automatically made to appreciate the value of the loans in foreign currency. In the end, over a year, the increase is more than 3. Which, to our GDP is almost negligible.

You have abandoned the goal of joining the euro in 2012. Do you keep the cap so

In a country that develops quickly, the currency appreciated naturally. So if we did not opt for the euro, the increase of the zloty grow more and more people borrow money in euros, for lower rates, which will be a factor of instability in a crisis. It is one of the main reasons for which to return the euro seems me essential. This would ensure a long-term stability. What is certain, is that the strength of our economy in the current crisis has shown the European authorities, in particular the Central Bank, that we had the kidney strong enough to integrate the single currency.