XX Economic Forum
Economic challenges of globalisation
Economic challenges
of globalisation
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Plenary Session: Creating EU Financial Perspective 2014–2020 – Innovation or Infrastructure?
Gyorgy Szapary, Economic Policy Adviser to the Prime Minister, The Prime Minister’s Office, Hungary; Francis
Bailly, Vice–President European Affairs, GE, Belgium; Janusz Lewandowski, Commissioner for Financial Programming and Budget, European Commission, Poland; Marc Coleman, Economics Editor / Current Affairs presenter,
Newstalk 106, 108 FM, Ireland; Mirek Topolanek, Former Prime Minister (2006–2009), ODS, Civic Democratic Party,
Czech Republic; Gunter Verheugen, former Vice-President, European Commission, Germany; Jaroslaw Bauc,
President of the Board, CEO, Polkomtel SA, Poland
A
debate about the economic problems troubling contemporary
Europe makes us realise that
we can no longer think, not to
say act, only locally. One of the
fundamental dimensions of
globalisation is the universalisation of economic problems
and processes.
Maintaining positive economic
development indices requires us to quickly make up for
extended historical negligence
which can pose a threat to the
EU’s economic future.
Marek Belka, President, National Bank of Poland
In times full of commotion, it
is of the utmost importance to
follow the rules of the market
economy and to responsibly
define the level of budget deficit as cost of debt may prove
to be too heavy a burden, slowing down economic growth.
Marek Belka, President of the
National Bank of Poland, stated
that especially in such turbulent
times with such a high public
debt, markets cannot forget
about watching this closely and
expecting that money will be
used more effectively. It is of
utmost importance to maintain
the costs of debt servicing at the
present level. During the plenaLuc Frieden, Minister of Finance, Luxemburg
ry session entitled “How to make
up for the lost time” Paul Jorion
from France pointed out that according to the recent data included in rankings presenting the competitiveness of economies, prepared for the World Economic Forum
in Davos, Switzerland, Sweden and Singapore have moved to the top places whereas the USA has fallen to fourth place. The economic climate is changing and it
affects the competitiveness of
these countries. Already in the
nineties Sweden had to make
a turn to the ‘doing-business’
direction whereas in the USA
there are ever more limitations
and burdens.
The necessity of limiting public
debt levels was emphasised by
Luc Frieden, Minister of Finance in Luxemburg. Unless public
debt level is reduced citizens
of particular countries may
expect only increasing taxes, a
tougher financial situation and
belt tightening. Unfortunately,
while watching what EuropeArseniy Yatsenyuk, Leader, Political Party “Front of Change”, Ukraine
an and also national politicians
are doing one may come to the
conclusion that they pay much more attention to other issues than the proper balancing of expenditure and revenues in particular countries - concluded the Minister of Finance in Luxemburg.
www.economic-forum.pl
Economic challenges of globalisation
Europe After The Lisbon Treaty. Strategies for the Future
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XX Economic Forum
Economic challenges of globalisation
Walter Radermacher, General Director, Eurostat, Germany
Bernard Wientjes, Chairman, Confederation of Netherlands Industry and Employers (VNO-NCW)
Laszlo Kovacs,Vice-President of the Board, Gedeon Richter, Hungary
28
E
ach country goes through crisis in its own way and expects aid also from its
neighboring countries. Arsenij Jaceniuk, Chairman of the “Front Zmin” party
contributed to the debate about the current world crisis by making a reference to his country’s situation. Crisis in Ukraine caused GDP to fall in 2009 by approximately 15%. Ukraine is a huge country which needs free access to international
markets where it can supply food. “It is easily predictable that the world is headed
for another food crisis in the very near future and we may prove to be helpful in
this respect,” declared the former Chairman of the Ukrainian
Parliament.
Debating the current crisis, its
repercussions and, first of all,
its consequences Walter Radermacher, General Director
of Eurostat, pointed out that
Eurozone crisis was caused
by providing false economic
data, which undermined the
trust European countries had
in one another. In the name of
responsibility for the state and
for the entire EU organism we
have to “prevent falsification of
data and we have to show true
Christian Wiest, Executive Vice–President, Customers & Alliances,
figures.” He gave assurances
Schneider Electric, France
that upon adopting Strategy
Europe After The Lisbon Treaty. Strategies for the Future
A completely different crisis
dimension was presented
by Bernard Wientjes, Chairman of the the Confederation of Netherlands Industry and Employers (VNO
– NCW). The Netherlands is
a relatively small country,
which, however, has the siMario Monti, Chairman, Bocconi University, former European
xteenth strongest economy
Commissioner, Italy
in the world and occupies
seventh place in the banking sector. Therefore, the crisis has to be perceived as an opportunity. The fact that
we are recovering from the current crisis does not mean that everything is already
fixed. He expressed his conviction that “We have to be prepared for crises to come
within five or ten years.
Differences in the level of particular countries’ development are compensated for at
a different pace. According to Christian Wiest, Executive Vice President Customers
& Alliances at Schneider Electric from France, today the most important challenge
for concerns operating globally is being able to do business in different areas while taking into consideration their specific character and local, and national peculiarities. Contemporary Europe has got its advantages compared to other parts of
the world – proximity of other
well-developed markets and
a high level of education. However, new regions of the world
are systematically overcoming
their limitations and hence becoming more competitive.
An important asset of the European Union as a global market
player is its uniform market.
The process of European economic integration is still underway. However, becoming
an ever-better-integrated market is beneficial for the whole
of Europe. Mario Monti, former European Commissioner
in charge of Competition, and
currently President of the BocPedro Pereira da Silva, General Director, Jeronimo Martins
Distribution, Poland
cioni University in Milan, referred to findings included in the
www.economic-forum.pl
Economic challenges of globalisation
2010 the European Union
defined its goals for the
next ten years.
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XX Economic Forum
Economic challenges of globalisation
Juliana Rotich, Co–Founder, Program Director, Ushahidi, USA; Michał Boni, Chief of the Permanent Committee of
the Council of Ministers, The Chancellery of the Prime Minister, Poland; Susan Pointer, Director, Public Policy
& Government Relations, SEEMEA, Google SEEMEA, United Kingdom
30
David Pullinger, Head of Digital Policy Team, Interactive Services, Central Office of Information, United Kingdom
Linnar Viik, Professor, Member of the Board, Estonian IT College, Estonia
report he prepared for the European Commission, in which he deemed it necessary
to intensify the activities aimed at uniformisation of the European market and making it clearer and more competitive. The Euro as common currency is an important
element of this market. Without a common currency Europe will never attain a sufficient level of market integration. Therefore, despite problems appearing in Eurozone member countries, it should be our aim to see all countries become its members
on the condition they have fulfilled all the membership criteria.
Europe After The Lisbon Treaty. Strategies for the Future
H
porary work places whereas we should think about work places for our children
which only innovations can help us create.”
www.economic-forum.pl
Economic challenges of globalisation
owever, the Eurozone crisis is
a great challenge for the entire European Union. From
today’s perspective it is important to
realise what its causes were. According to Georga Milbradta, a CDU politician and a former Prime Minister of
the government of Saxony, this crisis
was caused by the fact that Eurozone
member states did not comply with
the adopted criteria. The Stability and
Growth Pact focused too much on deficit and too little on financial liquidity.
It was not the new EU member states Philippe Castanet, President, EDF Poland
which joined the EU in 2004 and 2007
that caused the biggest problems, even though they have the greatest needs to
catch up with old member states, but the old member states themselves.
One of Europe’s dilemmas is what’s most important for its future, i.e. what to
invest in: in infrastructure development or in innovations. It is, to a certain extent,
a dilemma connected with too-scarce resources. During the session devoted to new
EU budget perspectives Francis Bailly, Vice President European Affairs of GE from
Belgium, concluded that “now it’s time to a make a leap forward. A new generation
of technology should be introduced. The conventional technologies create contem-
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G
reat infrastructural projects are an element stimulating the innovativeness
of economies. In Poland, such projects must include the development of
the entire airline communication system, which was mentioned by, among
others, Tadeusz Jarmuziewicz, Secretary of State in the Ministry of Infrastructure,
who pointed out that passenger air traffic in Poland will quadruple in the very near
future. Therefore, we need sufficient infrastructure to meet the increased demand.
Economic challenges of globalisation
Roman Młotkowski, Editor–in–Chief of TVN CNBC Business, TVN 24, Poland
Jarosław Myjak, Vice–President of the Board, PKO Bank Polski, Poland
32
The scale of expenditure required for realisation of such investments exceeds the
capabilities of the state budget. For this reason, it is a great opportunity for business
to create modern investments which will bring guaranteed profit.
Debate: There’s No Business Like Football
Edward Freedman, Former Managing Director, Manchester United Merchandising,
Chairman, icons.com, United Kingdom
Marcin Herra, President of the Board, PL.2012 Sp. z o.o., Poland
Europe After The Lisbon Treaty. Strategies for the Future
E
W
ithout a modern and well developed infrastructure Poland will find it hard
to compete with other countries in the region in attracting new investors.
Taking into account the challenges Poland will be facing in the coming
years, key issues include the development of transport, teleinformation and energy
infrastructure. During the discussion between representatives of central and local
authorities with representatives of private companies plans
and concrete suggestions regarding Poland’s infrastructure were presented. Foreign investors will play an important
role in this process.
This subject was discussed by,
among others, Maciej Jankowski,Undersecretary of State in
the Ministry of Infrastructure,
Federico Arias, President of Indal from Spain, Stéphane Hild,
General Director at the branch
in Poland of Société GénéraFrancis Bailly, Vice–President European Affairs, GE, Belgium
le S.A., Roland Dubois, Board
Member responsible for financial affairs at Telekomunikacja Polska SA, Philippe Castanet, President of EDF Polska,
and Zbigniew Szafrański, President of the Board at PKP Polskie Linie Kolejowe S.A.,
www.economic-forum.pl
Economic challenges of globalisation
conomic development
is measured with investment rates. Central Europe is a special area as it has
to catch up with its Western
neighbours, hence creating an
investment-fostering climate
in this region is a priority. Rafał
Baniak, Under Secretary of State in the Ministry of Economy,
while assessing this climate in
Poland, noticed that even though we observed considerable
growth in investment last year
we are still trying to get out of
a hole which we tumbled into
Georg Milbradt, Former Prime Minister, Government of Free State
during the crisis. Another facof Saxony, Germany
tor which has significant import for climate assessment is
post-investment protection, i.e. how states “behave towards investors who came
to Poland and, as a result of a breakdown in sales, export or a change in exchange
rates, found themselves in a certain difficult situation.”
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Economic challenges of globalisation
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The condition of the energy infrastructure in Poland guarantees stable economic development. This economic sector
requires gigantic investment. Therefore,
representatives of the energy sector debated how to wisely invest in the Polish
energy industry. What is the development strategy that would be best suited
for this sector? How is it possible to take
into account the risks we know about
and those we are not aware of, such as
climatic regulations, fuel prices and future demand levels for electricity? They
Marc Coleman, Economics Editor / Current Affairs
arrived at the conclusion that the lack of
presenter, Newstalk 106, 108 FM, Ireland
well thought-out strategies may pose a
threat to the existence of particular players or even entail the necessity of importing
electricity on a considerable scale.
This subject was discussed by, among others, Mirosław Bieliński from ENERGA, Dariusz Mioduski, President of the Board at Kulczyk Holding SA, Maciej Owczarek, President of the Board at ENEA SA, and Wojciech Topolnicki, Vice President at PGE Polska Grupa Energetyczna SA, Polska. Joze Mencinger, former Minister of Economy in
Slovenia, pointed out that the arrival of foreign investors is connected with a certain
risk as they may transfer the problems of their countries onto the countries in which
they invest. On the other hand, Jacek Socha, Vice President of PricewaterhouseCoopers in Poland, when referring to the report presented during the 20th Economic
Forum, emphasised that the investment attractiveness of the region is due to the
fact that “the crisis in Central and Eastern Europe is not over and that we are facing
Erhard Busek, President, European Forum Alpbach, Austria
Tomasz Lis, Editor–in–Chief, Wprost Weekly, Poland
considerable problems regarding budget deficit, public debt and possible perspectives for economic growth. The report clearly shows that Central and Eastern Europe
is no longer a monolith and that some of the countries in this region are deeply
troubled and their problems may not be over this or next year.”
Europe After The Lisbon Treaty. Strategies for the Future
For our region the experience of Slovakia, which adopted the Euro shortly before
the crisis, is of great importance. Jozef Makuch, President of the National Bank of
Slovakia, concluded that Slovakia is attractive for investors but the current crisis has
taken a relatively big toll on this country. According to him, the fact that Slovakia is
in the Eurozone may be helpful in getting out of the crisis because it has not been
affected by fluctuations in exchange rates as has been the case in other countries.
A Drop in production has been, therefore, partly mitigated by maintaining the levels
of remuneration. However, the current crisis has shown that Europe has to strengthen the foundation for the common currency so that it is stable and safe.
A
n efficient and developing economy requires
prepared and well-governed people. Companies’
successes largely depend on
the quality of their managerial
staff. In a debate devoted to
this topic, Jacek Siwicki, President of Enterprise Investors
Corporation in Poland pointed
out that the qualities of a leader
and of a manager are complementary. A leader should have
the characteristics of a good
manager whereas a manager
who becomes a leader finds it
extremely hard to resume performing his original duties.
Roland Dubois, Member of the Management Board for Finance,
Telekomunikacja Polska SA, France
www.economic-forum.pl
Economic challenges of globalisation
Gabriel Bernardino, Chairman, CEIOPS Committee of European Insurance and Occupational Pensions Supervisors,
Portugal
Vladimir Dvoracek, Director of Financial Market Supervision Unit, National Bank of Slovakia
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XX Economic Forum
Economic challenges of globalisation
A
36
new challenge which we have already learned to live with, is the
presence of international corporations. They appear in different countries with sometimes very different cultures, traditions and habits and, at times
also legislative systems. This process also
leads to the migration of managerial
staff. Hence a question appears whether
one person – a European manager – is
able to manage, regardless of whether
we are talking about marketing, sales or
finance. New circumstances mean new
expectations. What kind of personality
and qualifications are required from EuPaul Jorion, Professor of Economy and Antropology,
ropean managerial staff? The question
France
whether a European manager already
exists or whether it is a personality of the
future, was asked by, among others, Hans-Georg Lilge, MBA Program Director at the
Institute for Conflict Management at the European University Viadrina; Krzysztof Jarosiński, President of the Board at ZAK S.A.; Carlos Saraiva, Operational Director and
Board Member at Jeronimo Martins Dystrybucja S.A.; Stefanie Setz, Head of the HR
Department at Ericsson Eurolab, Albrecht Söllner, Professor at the Institute for Conflict Management at the European University Viadrina in Germany, and Reinhold
Wege, HR Director at the Nielsen Company.
Debate: Successful Conflict Management in the EU
Lars Kirchhoff, Director, Institute for Conflict Management, European University Viadrina, Germany; Antje Herrberg, Director, European Forum for International Mediation and Dialogue, Finland; Hannah Tümpel, Manager of
the Dispute Resolution Services, International Chamber of Commerce–World Chambers Federation, France; Günter
Verheugen, Honorary Professor, Institute for Conflict Management, European University Viadrina, Germany
Europe After The Lisbon Treaty. Strategies for the Future
T
A
ccording to Jan Krzysztof Bielecki, Chairman of the Economic Council of the
Prime Minister of the Republic of Poland, Poland’s weakness is the fact that
we cannot appreciate what we have, we cannot create value in what we have
and that we tend to adopt a dogmatic
approach instead of increasing value
every day. Research shows that in Poland there are partly-state-owned companies which are proverbial hens laying
golden eggs but they are not fully used
to do just that.
The Polish experience, when it comes to
corporate order, is not unequivocal. Andrzej Klesyk, President of the Board and
General Director at PZU S.A. emphasised
that in many state-owned companies,
such as Orlen, Totalizator or Nafta Polska, in the years 2004-2008 presidents
and board members were changed dozens times and that this does not help to
develop these companies in the proper
Jan Krzysztof Bielecki, , Chairman, Economic Advisory
direction but, on the other hand, Bank
Council to the Prime Minister, Poland
PKO BP, grew much stronger than other
banks in which such changes did not
take place. What, therefore, propels companies’ development? Is it only the form of
ownership or maybe, primarily, knowledgeable experts? he asked.
The current crisis has revealed the weaknesses of the financial supervision system.
www.economic-forum.pl
Economic challenges of globalisation
he question of what to do to educate leaders not only on a global, but
also on a European scale, was asked
by Jacek Poświata, Managing Director at
McKinsey & Company, who concluded
that among Polish companies which have
been developing well so far, there are leaders on a regional scale. Consequently,
he formulated the question “Why hasn’t it
been possible in Poland to make a Polish
Nokia yet?” Henryka Bochniarz, President
of the Polish Confederation of Private Employers - Lewiatan, claimed that during
Maciej Witucki, President of the Board, Telekomuthe crisis Poland did not record a fall in
nikacja Polska SA, Poland; Witold Orłowski, Chief
production thanks to small and mediumEconomic Advisor, PricewaterhouseCoopers, Poland
sized entrepreneurs. “It was exactly these
companies, which, thanks to their adaptability and development, had an absolutely dominating influence upon the condition of our economy.” The question arises whether we should really focus on the
large ones?
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XX Economic Forum
Economic challenges of globalisation
Waldemar Pawlak, Deputy Prime Minister & Minister of Economy, Poland; Jan Jankowski, TVP Television Information Agency, Poland; Selim Basak, Managing Director, Head of Central European Sales, Goldman Sachs International,United
38
One of the suggested mechanisms for securing against the next crisis is creating
global financial supervision institutions as such a mechanism would be efficient
and necessary. Miroslav Singer, President of the Czech National Bank, emphasized
that the operations of supervisory institutions depend on who creates such an institution, where its employees come from, and what duties and scope of responsibilities they had before. Crisis does not free us from responsibility but is a test checking our competence and responsibility for our action. On the other hand, Vladimir
Dvoracek, Director of the Financial Supervision Department at the National Bank of
Slovakia, admitted that the Brussels project of creating international financial su-
Jacek Socha,Vice–President, PricewaterhouseCoopers, Poland
Igor Chalupec, Executive Partner, ICENTIS Corporate Solutions, Poland
Europe After The Lisbon Treaty. Strategies for the Future
pervision institutions was justified and that it should be implemented gradually.
It will also allow the determination of the scope of responsibilities and make it clear
who is in charge of what. It is important to create safety standards for the banking
sector. Gabriel Bernardino, Chairman of the Committee of European Insurance and
Occupational Pensions Supervisors from Portugal decided that institutions existing
at national and European levels will not be conflicted but will complement one another to provide a better protection of the system. An advantage of national supervisory institutions is a better knowledge of the local situation and mechanisms at
play. On the other hand, European supervision is better at recognising these threats
which may have rampant international consequences.
Andrzej Klesyk, President of the Board & CEO, PZU SA, Poland
Jacek Siwicki, President, Enterprise Investors Corporation, Poland
www.economic-forum.pl
Economic challenges of globalisation
Ludwik Sobolewski, President of the Management Board & CEO, Warsaw Stock Exchange
Aleksander Grad, Minister of the Treasury, Poland
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XX Economic Forum
E
conomic policy translates directly into the standard of living and social moods.
In the contemporary world trust in institutions of economic life is a necessary
prerequisite. The Warsaw Stock Exchange has become an important element
of the economic landscape. Ludwik Sobolewski, President of the Board of the War-
Economic challenges of globalisation
Antonio Estella, Head of International Affairs and Cooperation, The Ideas Foundation, Spain
Paolo Garonna, , General Director, ANIA (Italian Association of Insurers), Italy
Gyorgy Mosonyi, CEO, Member of the Board of Directors, MOL Plc, Hungary
40
saw Stock Exchange, emphasised that we have to adapt to globalisation and free
capital flow. An alternative is marginalisation and maybe even the disappearance
of the capital market. The Warsaw Stock Exchange has to be open to the world,
it has to allow foreign investment companies play an active part and it also has
to understand the fact that investors’ capital can not only come, but may also go.
We need to build a capital market which does not have a purely local dimension but
an international one.
Debate: The Role of Multilateral Institutions in the Last Financial Crisis
Charles Kovacs, Prezes, CIG Pannonia Life Insurance Co, Węgry; Kaspar Richter, Senior Economist, World Bank,
Poland; Gyorgy Szapary, Economic Policy Adviser to the Prime Minister of, Hungary; Andriey Niechajev,
President,Russian Financial Corporation, Russia
Europe After The Lisbon Treaty. Strategies for the Future
T
he subject of a new economic model which would ensure a return to growth
in times of fiscal consolidation was discussed by: Paweł Świeboda, President
of Demos Europa, Center for European Strategy, Witold Orłowski, Chief Economic 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 Witucki, President of the Board at Telekomunikacja Polska S.A. Participants in the panel
assessed perspectives for the European economy in the context of global competition 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.
F
inancial issues have always been discussed at the Economic Forum. Representatives of the largest financial 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 recent years. It showed incredible connections between real economy and the financial sector.
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
www.economic-forum.pl
Economic challenges of globalisation
K
rzysztof Kalicki, President of the Board at Deutsche Bank Polska S.A., concluded, 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.”
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Economic challenges of globalisation
he creation of economic and financial policies of countries is, therefore, becoming a task demanding incredible responsibility.On the other hand Mateusz
Morawiecki, President of the Board at Bank Zachodni WBK, critically assessed
the activities undertaken in Europe to check how much European Banks are resistant
to crisis factors. Stress-tests which some European banks were subjected to are not
42
Krzysztof Pietraszkiewicz, President, Polish Bank Association, Poland; Małgorzata Iwanicz–Drozdowska,
Professor, Warsaw School of Economics, Poland; Tomasz Bogus, President of the Management Board, Bank Pocztowy S.A., Poland
sufficient and do not prove to what extent the system is safe. He emphasised that
transparency and trust in banks was rebuilt in the short term but the best test will
come in the near future. Commercial banks will have to prove whether they will be
able to roll their gigantic debt, maturing in 2011,2012 and 2013. Will they manage
to roll five billion Euro while it is
ever harder to acquire deposits
without paying too much and
while it is ever more difficult to
place bonds on the market without offering high prices.
The complexity and the peculiar character of certain countries’ economic situations, even
if they are EU member states,
means that flexible financial
policy rules need to be applied.
The European Union has adopted, among other things,
a guideline determining the
Sławomir Sikora, President of the Board, Bank Handlowy
amount
of long-term deposits
w Warszawie, Poland
Cezary Stypułkowski, Managing Director, J.P. Morgan, Poland
Europe After The Lisbon Treaty. Strategies for the Future
in banks’ debit columns. Zbigniew Jagiełło, President of the
Board at Bank PKO BP, pointed
out that such directives do fit,
for instance, Poland’s situation.
According to him we should try
by all means to counteract such
ideas which relate to different situations but apply also to us. We
should try to introduce modifications as within the framework
of the so-called famous European directives there are certain
implementation freedoms.
H
owever, despite many problems and crisis situations, caused, to a large extent by the operations of financial markets, the final result is
positive, which was pointed out by Cezary Stypułkowski, Managing Director at J.P. Morgan. According
to him developed countries have not accelerated. Capital flow which used to reach billions of dollars a year
in the private sector, amounted to over six hundred
billion in the record-high year 2007. This is a net influx
of money to these countries. Poland is an important
Peter Tils, CEO for Central & Eastern Europe, Deutsche
Bank AG, Germany
www.economic-forum.pl
Economic challenges of globalisation
T
he example of Poland clearly shows that despite
the fact that most deposits are opened for a period of
Henryka Bochniarz, President, Polish Confederation of Private
Employers Lewiatan, Poland
time shorter than a year we do
not have problems with rolling
mortgage or investment loans. The Polish banking market proved crisis-resistant.
All the banks survived it and the there was not even one situation requiring state
aid. It does not mean, however, that our banking system does not have any weak
spots. One of them is certainly the level of ‘bank exclusion’, which Tomasz Bogus, President of the Board at
Bank Pocztowy S.A. pointed to stating that the difference between the level of bank exclusion in the old
EU member states and Poland is still very big. Today
it no longer amounts to forty percent, however, the
difference still reaches ten to twenty percent. How, if
at all, do financial institutions and banks try or manage to counteract financial exclusion? We may be provocative and say that there is no such complex offer,
nevertheless it seems that we are undertaking ever
more actions taking us in a good direction.
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Wiesław Thor, Vice–President for Risk Management, BRE Bank SA, Poland
Tadeusz Jarmuziewicz, Secretary of State, Ministry of Infrastructure, Poland
Michał Marzec, CEO, Polish Airports State Enterprise, Poland
44
beneficiary of this process. On the other hand, there is a sort of experience of recent times – being aware that the speed of this process has to be well adjusted.
The economy, in particular in times of globalisation, requires constant attention and
afterthought as it is an area of human activity. Krynica 2010 created a perfect opportunity for such a thorough and competent debate.
T
he problems troubling the healthcare system is the subject of many discussions and arguments. The Polish healthcare system calls for reforms; however
the direction of these reforms has not yet been fully defined.
Jolanta Fedak, Minister of Labour & Social Policy, Poland
Anita Błaszczak, Editor, Rzeczpospolita daily, Poland
Europe After The Lisbon Treaty. Strategies for the Future
D
espite considerably higher outlays
on healthcare, no radical improvement in the quality of the provided
services has been recorded. Therefore, we
need a reform that will not only increase
the amount of money in the sector but
which will also improve the quality of services it offers. The Minister of Health - Ewa
Kopacz – presented in Krynica the fundamental concepts of the prepared reform.
It allows private competition for NFZ (National Health Fund) to enter the market,
placing a greater emphasis on the quality
of services, introducing restrictions for hospitals that do not transform into compa- Hans–Peter Teufers, Director for Central
and Eastern Europe, United Parcel Service
nies, implementing changes in the medi- Deutschland
cal reimbursement system. “We will soon
create conditions promoting competition
among funds that will collect and manage premiums,” announced Minister Kopacz.
Debate: The Future of Investing in Poland – Threats and Opportunities
Rafał Baniak, Undersecretary of State, Ministry of Economy, Poland; Donald Bellamy, CPO Head and Country
President, Novartis Poland Sp. z o.o., Poland; Jerzy Toczyski, President of the Board, CEO, GlaxoSmithKline Pharmaceuticals, Poland; Marynika Woroszylska–Sapieha, President of the Board, CEO, Sanofi–Aventis sp. z o.o., Poland
www.economic-forum.pl
Economic challenges of globalisation
P
anos Kanavos talked about systems reform and the necessity of introducing
indices measuring investment effectiveness and the quality of system operations. He emphasized, among others, that we have been investing in healthcare for 20-30 years now but we have not created any economic measurements yet
which would allow us check where the money goes. The pharmaceutical industry is
a very important part of the healthcare system.
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XX Economic Forum
Ewa Kopacz, Minister of of Health, Poland; Bolesław Smoliński, Medical University of Warsaw, Poland
Economic challenges of globalisation
J
46
udith Bidlo, Deputy Director of the National Health Insurance Fund of Hungary,
explained what the changes in their medicine reimbursement system consist
of. They have separate budgets for medicines and for hospital treatment including medicines used for this purpose and the government is trying to split the
risk between companies and the government. This especially applies to innovative
treatment in which there is no certainty yet as to its effectiveness.
On the other hand, Laszko Kovacs, Vice President of Gedeon Richter, emphasized
that research and innovations are very expensive, so companies are taking over
already existing generic medicines manufacturers. However, it is innovations and
new solutions that can fulfill the ever new medical requirements.
An extraordinary event in the debate devoted to the healthcare system was a meeting with children.
Monika Richardson, Presentation of Partnership for Health Program, Poland