Social Dialogue In The Post-Crisis Period In Poland
Jan Czarzasty, Dominik Owczarek
Over the last decade, the main subject of public debate in EU countries has been the global economic crisis and its symptoms. The collapse of the markets that took place in the second half of 2008 in Europe and the United States lasted a few years, and it is only recently that it has been possible to see the situation improve, although not in all areas of economic and social life. It is often described as a crawling crisis, with no clear-cut time frame, and with only the beginning marked symbolically as 2008. Thus, it has been the strongest economic shock since the time of the Great Depression in the 1920s and 1930s. It was triggered by a dip in the financial sector, when banks released instruments with undefined risk, mainly related to real estate, on a large scale onto the market. This shock was linked to a crisis in public finance that manifested itself not only as the growing public debt and budget deficit, but also the need to save large private financial institutions from collapse. Failure to take such action could have caused an even deeper downturn on the markets and spread the crisis to other sectors of the economy. The eurozone crisis was an additional factor. From today’s perspective, the economic crisis has been one of the most severe endurance tests for the western economies, as well as for the solidarity of its European member states.