— The Polish economy is not at all ready to adopt the euro, and we do not meet the convergence criteria – He said. He stressed that the Polish zloty helped the Polish economy face crises many times. He added that the Ministry of Finance is not working on adopting a unified currency, even if it is possible.
See also: Euro in Poland? It is impossible. We have met half of the four criteria and this is not the end of the problems
Economist on the euro and Minister of Finance
The well-known economist, Janusz Jankowiak, reacted sharply to these words and published an extensive comment on social media. He does not hide his disappointment in the minister’s position and diagnoses where this approach comes from in dealing with the euro issue.
Janusz Jankowiak recalls that Marek Belka was not a fan of the euro, neither as Minister of Finance nor as Chairman of the National Bank of Japan. Jacek Rostowski wasn’t one either. “However, none of the aforementioned decision-makers took much energy to assure us that the euro was “probably not even” right for us.“.
Where does this come from? “From a well-documented net profit/loss statement?” – he asks rhetorically and immediately answers: “Impossible.”
“This comes from the support bars. With the risk of them sinking to lower levels. This government has not taken even a small step to improve the unfavorable ratings of the euro after many years of propaganda campaigns that are still fruitful today. On the contrary: he is now using well-worn slogans about the “absolute unpreparedness of the economy” to remove exceptions and benefits from the zloty (read from its depreciation in the event of short-term external shocks),” comments Janusz Jankowiak.
He admits that it worries him a lot. He adds that Poland cannot join the eurozone tomorrow, next year, in three years, or even in five years. “This is not possible, unless the parameters of nominal convergence change from the previous era (especially the second European Exchange Rate Mechanism), and unless a political consensus is reached in Poland on changing the constitution adapted to the common European currency. This is clear.”
“But why on earth does the government assert that it does not want it, that – God forbid – it does not intend to do so, and that it rejects even the slightest idea of a euro with disgust? Why does the government proudly declare that it does not do it? Why is no possible action even undertaken? Why is there no government representative responsible for these actions and why is public opinion not ready for an objective discussion about the euro in Poland – the economist lists the questions that have only one answer? Support tapes.
Support for the euro is declining
The economist’s hypothesis that there are obstacles behind the Finance Minister’s approach to the euro has been confirmed by recent opinion polls.
According to the latest data published by “Rzeczpospolita” Support for adopting the euro among medium- and large-sized Polish companies fell to 48%. Compared to 54 percent a year ago. In research conducted by Grant Thornton 42 percent of respondents expressed their opposition to adopting a unified currency.
It is worth remembering Research conducted by Grant Thornton in 2011. At that time, up to 85 percent of small and medium-sized entrepreneurs in Poland supported the adoption of the euroThis indicates a significant change in business attitudes over the past decade.
What do ordinary citizens say? Nearly half of Poles (49.4%) do not strongly support the introduction of the euro in a poll conducted by United Surveys on behalf of Wirtualna Polska. until Among government supporters (KO, Third Way and Left) only 37 percent. Participants support converting the zloty to the euro (Sum of answers “probably yes” and “definitely yes”). But 52% oppose this.
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