Instead of giving a boost to Poland's builders and by extension the economy, the construction of highways and stadiums for the Euro 2012 soccer tournament has proven a crushing burden for construction firms. Troubled construction firms PBG and Polimex – which were deeply involved in Euro 2012 infrastructure projects – revealed enormous losses for Q2: The PBG group saw a stunning net loss of some zł.1.6 billion, while Polimex-Mostostal reported a loss of zł.388 million.

Unfortunately, construction firms' woes aren't limited to the sector alone. Banks provided some zł.60 billion in loans and guarantees for construction firms, Gazeta Wyborcza writes, and investment funds put plenty of money in construction bonds. Many subcontractors are still waiting for payment.

Considering that the construction sector employs some 700,000 people and is responsible for nearly 7 percent of the country's GDP, according to Gazeta Wyborcza, it's clear that the problems of Poland's construction sector are an issue for the entire Polish economy.

Poland A.M.