Poland is unlikely to join the eurozone before 2018
May 21, 2014
Article 3 of the TEU stipulates that the EU will establish an economic and monetary union with the Euro as its currency.
Poland and all other member countries, except UK and Denmark which enjoy a legal derogation, must join the eurozone, when they fulfil the requirements – 2.5 per cent inflation rate, three per cent budget deficit, lower than 60 per cent of GDP public debt, 4.8 per cent long-term interest rate, no devaluation during two years before joining.
Today 18 of the 28 EU member countries have adopted the Euro.
The remaining 10 countries do not yet fulfil all the necessary conditions for membership.
Poland has fared well without the Euro.
Theoretically, it could join the eurozone earliest by 2017 if it decided to bind the zloty-Euro exchange rate during 2015-16. But in 2015 it is due to hold parliamentary elections; and the present pro-European government under PM Ronald Tusk hesitates to take such a decision in view of two thirds of the citizens preferring to stay with the zloty.
The government prefers not to tie its hands in the present situation of financial uncertainty and to announce a target date for joining the eurozone.
From a EU perspective the timing of Polish Euro membership is not crucial compared with the political and economic stability of the country. Political wisdom therefore dictates to wait until the outcome of the parliamentary elections in 2015 before raising what is a delicate political issue in Poland.
In the meantime, the eurozone will have been strengthened thanks to the ongoing reforms and Poland’s northern neighbour,Lithuania, will no doubt have joined the eurozone at its target date 2015.
Eberhard Rhein, Brussels, 20/5/2014
Author : Eberhard RheinComments
Leave a Reply
You must be logged in to post a comment.
If you want a hassle free movies downloading then you must need an app like showbox which may provide best ever user friendly interface.
download showbox APK
This is an excellent post i seen.I have to thanks to you to share it. It is really what I wanted to see hope in future you will continue for sharing such a excellent post.Happy Easter 2017 Quotes
Awesome to see your site. Keep up the great work. Thanks for all you could do.Lets stay in touch
RRB Kolkata Result 2017
I love it. I hope that more and more Blogger will use this feature in the future, because it just makes the internet better I think!
RCB 2017 Player List
Nice and thanks for this post and i will visit again.
Fathers day quotes from Wife
Thank you for providing the valuable info.i will visit again.
Memorial Day 2017 Images
An Amazing Post I seen and very happy to read that nice and usefull content thanks for share.
Free Memorial Day Images
Fathers Day Images Download
Fathers Day Images Free
The best collectioin of Happy Fathers Day 2017 Quotes, Wishes, Messages, Greetings, Poems and Sayings.
Happy Fathers Day Quotes
The best collection of Fourth of July Poems
Very good brief and this post helped me a lot. Say thank you I searching for your facts. Independence Day Status
First of all i am saying that i like your post very much.I am really impressed by the way in which you presented the content and also the
structure of the post. Hope you can gave us more posts like this and i really appreciate your hardwork.
Images of 4th of July