News full text
Poland will not join the Eurozone in 2012
Poland will not have Euro as its currency in 2012. Many economist have announced it many weeks before, but this is the first time that this information is admitted by a ruling party (Civic Platform) representative Zbigniew Chlebowicki.
- Looking at it [joining Eurozone] realistically the date will have to be postponed – said Chlebowicki to Radio 3. He explained that financial crisis has made it impossible to mach Maastricht criteria.
It is all about a budget deficit and inflation. Apart from that zloty fluctuates too much. That information was also confirmed by a EU Commissioner Joachim Almunia. He said that current market situation does no support joining the Eurozone by any countries.
Poland’s main concern however is the public debt. According to European Commission it can rise as high as 6.6 per cent of per capita production. This is 2.7 per cent more than last year. However Poland looks good, when compared to other European countries.
- We can predict that Polish public debt will be 1 per cent lower than the average for EU – says Krzysztof Rybiński from Ernst and Young. However it grows rapidly, so we should not be too optimistic- he adds.
