 It is hard not to marvel at the Poles as they build their financial architecture. Starting, in the main, with a blank sheet of paper, they develop solutions of mind-boggling complexity – combining international best practice with purely local methodologies. The launch of the Polish pension industry in 1999 continued this grand tradition – surpassing the establishment of capital markets in the early 1990s and the National Investment Fund programme of 1996. A frenzy of activity was unleashed in March. |
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