Sun. May 26th, 2024

Berlin has been urging Warsaw to join the common currency, Poland’s regulator says

Poland’s central bank governor Adam Glapinski on Friday said that Germany is pressuring his country to adopt the euro currency. According to Bloomberg, the regulator vowed to prevent this as long as he’s in charge of monetary policy.

The publication said that Glapinski has been criticized by Poland’s opposition party leader Donald Tusk for the highest inflation in a quarter of a century.

Glapinski played down the attacks, arguing they were probably motivated by people seeking to force Poland to ditch the zloty for the euro.

READ MORE: ‘Gold symbolizes strength of the country’: Poland plans to add more bullion to its coffers

“There is huge pressure from one of our neighbors to push Poland into the euro, and for us to help build a European super-state,” Glapinski said at a news conference in Warsaw, as quoted by Bloomberg.

Poland joined the European Union in 2004 but does not use the euro as its currency. However, under the terms of the Treaty of Accession with the EU, all new member states should participate in the economic and monetary union from the date of accession. That means that Poland is obliged to eventually replace its currency, the zloty, with the euro.

The current government has repeatedly opposed joining the Eurozone for the foreseeable future. “This is about Poland maintaining its independence and sovereignty,” Glapinski stressed

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