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Mature Polish market prepares to do without pensions

A year ago, the talk was of the Warsaw Stock Exchange becoming a hub for central and eastern European equity markets. Today, it’s a fact. A smart privatisation strategy — with the October IPO of the exchange itself as the centrepiece — is credited as crucial in making the leap from aspirant to incumbent. The country’s equity-hungry pension funds also had a big part to play. So, with a reform of the system on the way, what now?

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