The effects of the global crisis delay Euro adoption

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07.08.2009

 

In the last newsletter, we informed you about the Poland Government schedule on ...

 

 

In the last newsletter, we informed you about the Poland Government schedule on entering to the Monetary Union on January 1st 2012.

 

On July 29th, country’s Vice Minister Mr.  Ludwik Kotecki has officially announced the renounce of Poland’s objective to become member of the Monetary Union by 2012, due to the crisis and the actual budget deficit. The high fluctuation of the local currency (ZLOTY) blocks any participation on the European Exchange Rate Mechanism. Zloty should remains into the ERM at least 2 years and the Zloty/EUR fluctuation can’t exceed (+/-) 15% of the exchange rate set.

 

At the end of August, a news conditions to adopt euro will be submitted to the Parliament, which might came into effect by 2014-2015 experts says.

 

2009 - Actual situation and benefits to join the Euro Report

 

2010
         - Autumn 2010-Spring 2011, entering to European Exchange Rate Mechanism

2011   
 
2012   
        - European Commission and European Central Bank assessment about the criteria fulfillment

        - Final decision

2013   
 
2014 
        - Possible entrante of Poland to Euro zone

2015