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    Poland might consider Euro adoption but not earlier than in 8-10 years, says Glapinski

    In a recent press conference, Adam Glapinski, the president of Poland’s central bank, declared that discussions about adopting the euro in Poland will not commence for a minimum of eight to ten years. Despite Poland’s formal commitment to adopting the euro under its EU accession treaty, no specific date has been set for the transition from the zloty to the common European currency.

    Glapinski emphasized that the debate on Poland’s entry into the eurozone would only begin at the earliest when the country reaches a level of development comparable to Western nations. He stated, “It can be done earlier but to the detriment of Poland.”

    The central bank governor, who secured a second six-year term in May 2022, has consistently opposed the adoption of the euro. Glapinski has made it clear on multiple occasions that he will not support Poland’s entry into the eurozone during his current tenure.

    Expressing concerns about the potential consequences, Glapinski previously warned that adopting the euro in Poland could lead to a “radical drop” in the rate of GDP growth and would be deeply harmful to the country. Despite the formal commitment, the current stance indicates a cautious approach, with a preference for delaying the discussions until Poland achieves a certain economic development threshold.

    Source:

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