More than 30 years ago Leszek Balcerowicz was the junior 800 metres champion of Poland. He may now be 51 and a year into his second term as Polish finance minister, but it is still easy to see why he was a natural runner over a distance requiring both the raw speed of a sprinter and long-distance stamina.
In 1989 Balcerowicz left the cosseted atmosphere of academia to become Poland's first post-communist finance minister. It was the speed with which he moved to tackle the country's hyperinflation and implement sweeping reforms that gained him the plaudits of international economists. His uncompromising reform package was dubbed "shock therapy", and today's thriving Polish economy remains a testament to its success.
Now, after seven years of robust economic growth, speed is no longer of the essence. What Balcerowicz has...
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