SAO PAULO | February 24, 2015 | By Marcus Nunes via Historinhas | It took three years, but in late 2011 Poland finally botched up and went the way of the majority of countries, letting NGDP fall way below trend. They didn’t (correctly) react to the 2007-08 oil price rise, like the US, UK, EZ, etc. and fared well, but didn’t resist when oil prices picked up again in 2010-11, when, among the initial group, only the ECB was dumb enough to react.