Blog by Michael Clay

Poland’ Euro Adoption in 2014/2015 at the Earliest?

Poland will be able to adopt the euro not before 2014-2015, Halina Wasilewska-Trenkner, a member of the National Bank of Poland's Monetary Policy Council said quoted yesterday by the daily Dziennik Gazeta Prawna.

Wasilewska-Trenkner cited the need for meeting Maastricht criteria and a two-year stay in the ERM2 mechanism. She also said that Poland should make necessary amendments in its Constitution ahead of entering the ERM2.

"It is the most important bill but not the only one which should be changed before we start the formal period of preparations for euro adoption, i.e. before we enter ERM2," she added.

The need for a firm date to be established for Poland's entry has never been more important. The constant dialogue and change in dates can be most unnerving to the investors who view Poland as an ideal country to invest in. Continued good GDP results making Poland the leading European economy are encouraging investment and businesses who want to buy from or produce in Poland.

All of these encouraging signs can be stymied if there are continual changes in opinions on the dates of entry to ERM2.