Talk all you will in Poland and abroad about the need to reform pension systems, push back retirement age and encourage private voluntary pension savings and the message invariably misses the mark.

Poland's fourth quarter earnings season, now in full swing, has shown a new trick: for the first time that I can recall, a management board announced their earnings from London.

The common wisdom is undergoing something of a stress test and the Q4 earnings season now underway might have a lot to say about the outcome.

Another quarter, another bright green Poland on a red map of Europe. Another quarter of hearing the government's top brass spell out their recipe for success.

Topic #1 amongst Polish and emerging Europe macro analysts are rising fiscal deficits and the public debt loads they give rise to. They might be wasting their time.

Now, I don't want to be the guy that gleefully declares that the recession is over. It probably isn't. And besides, I'm a journalist. I merely seek gleeful declarations from official sources.

A modest blog with a modest goal: I address you today to declare the end of an era. Now, as with the end of all eras, this is not a single-day event. It didn’t happen only today, won’t be over by tomorrow. Some dinosaurs will live on.

Already a provocative headline. After all, Poland is NOT IN recession, as Poland’s PR leaders keep trying to remind. Doubters are invited to check it here: http://tr.im/xHw5 Even the EU had to admit: Poland is its star pupil.