During a meeting in Sompolno, PiS leader Jarosław Kaczyński expressed strong opposition to adopting the euro in Poland, citing negative economic consequences. He argued that such a move would lead to a sharp rise in prices and a decrease in the purchasing power of wages. Kaczyński claimed the euro’s real value for Poland is approximately 2.55 PLN, contrasting with the current market rate of 4.29 PLN. He suggested that the discrepancy between these values would result in significant losses for Poland and its citizens.
Euro’s Impact on Exports
Kaczyński emphasized that a strong currency like the euro would hurt Polish exports by making them more expensive. He pointed out that Poland’s successful agricultural and other exports could suffer, becoming profitable only if wages in Poland were lower. He warned that adopting the euro would push Polish prices towards German levels, which he deemed unsustainable for the Polish economy.
Despite Poland’s EU treaty obligations to adopt the euro eventually, Kaczyński noted that there is no specific deadline. He hinted that Poland might delay this adoption for many decades. He believes that the euro primarily benefits wealthier countries like Germany, the Netherlands, and Austria, rather than nations with lower per capita income.
Current Exchange Rate Trends
The current exchange rate of 4.29 PLN to the euro is crucial for Polish exporters, as a lower exchange rate enhances their competitiveness. According to a recent NBP report, the critical threshold for export profitability is 4.10 PLN/euro. In 2020, NBP intervened to weaken the zloty, supporting exporters by making Polish goods cheaper abroad.