Warsaw is one of Europe's youngest cities. The first fortified settlements on the site of today's Warsaw was Bródno in 9th century. In 14th century it became one of the seats of the Masovia's Dukes and capital of Masovia. At the end of 16th century King Simund III moved the capital from Cracow to Warsaw.
Warsaw flourished in the late nineteenth century under Mayor Sokrates Starynkiewicz. In the course of the Polish-Bolshevik War of 1920, the huge Battle of Warsaw was fought on the Eastern outskirts of the city in which the capital of Poland was successfully defended and the Red Army defeated.
Warsaw is notable among Europe's capital cities for its indestructibility. After the brave Warsaw uprising at the end of the World War II Hitler ordered the city to be razed to the ground. 85 % of the city had been destroyed, including the Old Town with the Royal Castle. Although many of the destroyed significant historical buildings were restored, little remains of the resplendence of Warsaw baroque.
After the war Warsaw became the capital of the communist People's Republic of Poland, and the city was resettled and rebuilt. Large prefabricated housing projects were erected in Warsaw to fill in the gap of the housing shortage. Majority of the historic streets, buildings, and churches were restored to their original form. In 1980, Warsaw's historic Old Town was inscribed onto UNESCO's World Heritage list.
With the entry of Poland into the European Union in May 2004, Warsaw is currently experiencing its biggest economic boom.
Warsaw's city centre is hosting many national institutions, government agencies and many domestic and international companies. Investors see Warsaw as the heart of Poland. Warsaw produces more than 15 % of Poland's national income. The unemployment rate is one of the lowest in Poland.
Warsaw's Stock exchange started operating again in April 1991, after the reintroduction of the free-market economy and democracy. It is now the most active stock exchange in the CEE region with ambitious to become its financial centre. The stock exchange has more than 250 companies listed. The main indexes of its performance are WIG and WIG20.
