Thursday, 18 October 2012

Poland is unlikely to keep its own currency forever

Poland will not adopt the euro unless it is 100% certain the currency will survive, Polish Central Bank Governor Marek Belka said Thursday, though he conceded it would be "extremely difficult" for the country to remain outside the euro zone forever.
"Poland sees itself as a future member of the euro, but we are not rushing," Mr. Belka said at a conference of central bankers. "The main reason is that we don't think we are well prepared."
Poland has learned a valuable lesson from the debt crisis in the euro zone, as many countries in the currency bloc had appeared to be well prepared when they adopted the currency.
"Five years ago we though we were well-prepared," Mr. Belka said.
Now Poland's priorities have shifted, he added.     

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