Poland: 'We Still Want Euro'

[chrisild]

Well, that decision (about the supervision of banks) was a pretty lame compromise "à l'allemande" and would, by itself, not be a reason for a desire to join the currency union.   But of course, when it comes to "things euro", there will be more decisions in the future that are taken by those who actually use the euro. Guess that for some member states that will make the exit easier, while for countries such as Poland it may be an incentive to join. Maybe not the currency union yet, but the exchange rate mechanism ...

Christian

[Figleaf]

No, that decision is already taken and they haven't a hope of changing it. I think they're scared of possible future decisions, taking a path they don't want to take towards centralised decision-making in Frankfurt while they are obliged to join the euro sooner or later. A minister of finance would understand the advantages of joining and would not want to take the Swedish route, but the cabinet would not want to lose power to the unelected bureaucrats yadda yadda yadda. Joining quickly and blocking progress must seem like an attractive solution to them.

Peter

[chrisild]

Guess that the current government would actually be interested in introducing the common currency. Also, the country already meets most convergence criteria. But no matter whether Donald Tusk's enthusiasm regarding the euro is hot or lukewarm, the change won't come. Why?

According to a recent "Der Spiegel" article, the constitution refers to the złoty as the country's currency and would have to be modified with a qualified (2/3) majority in the Polish parliament. Well, Tusk's party (PO) or rather his government coalition will not get those two thirds. Does the name Jarosław Kaczyński sound familiar? His party (PiS) and some others oppose any further European integration and of course the euro too. So I suppose we don't have to deal with a "get in, then block" member any time in the foreseeable future.

Christian