Emerging Europe: Poland’s biggest bank comes into its own

Although it was a bad year for the European Union in 2011, it was a relatively good one for the EU’s biggest recent entrant, Poland. Prime minister Donald Tusk occupied the rotating presidency of the EU in the second half of 2011 and defeated the populist opposition leader Jaroslaw Kaczynski in elections in October. Poland might again have the opportunity to shine by comparison with a dull neighbour in 2012. This summer it co-hosts the European football championships with Ukraine, a country increasingly ostracized by the EU and by international markets.

If the German economy sneezes, Poland’s exports catch a cold.