Wednesday, February 1, 2012

Poland won't adopt euro

Poland not planning to adopt the euro in 2015
Officials say Poland in not planning to convert to the euro in 2015, but should meet criteria
Associated Press – Tue, Jan 31, 2012
WARSAW, Poland (AP) -- Government officials say that Poland is not intending to adopt the European currency in 2015 but should meet the main financial criteria for admission that year. 
Finance Minister Jacek Rostowski said Monday in Brussels that Poland has "no intention to enter (the eurozone) in 2015 but we definitely want to meet the fiscal criteria then."
Comment: The common European currency needs some more time for consolidation. Poland has a relatively big economy compared to the other Eastern European countries and any disturbance would weigh heavily on the euro. It is good decision to wait - for all sides.

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