Poland: Fiscal Treaty Ratified

Poland´s President Bronislaw Komorowski has signed the EU Fiscal Pact this week.

After the Polish Lower House of Parliament has ratified the Fiscal Pact, President Komorowski has approved the bill. According to Komorowski, the euro adoption remains a major goal for the country.
In future, Poland will be obliged to pursue a stricter budgetary discipline. As a result, Poland will prepare the currency adoption in the next years.
Until now, 25 EU member countries have signed the Fiscal Pact. The Fiscal Pact allows the EU Commission to sanction member countries which do not practice budgetary discipline.
In the next years, Poland has to lower the budget deficit and keep the public debt quota flat. In 2015, the government wants to fix the date for the euro adoption.
The date will be fixed after the elections in 2015, he said. Poland´s Minister of Finance Jacek Rostowski said that he wants Poland to join the Eurozone in 2017 or 2018.
Prime Minister Tusk underlined that the austerity policy makes the country stronger and more competitive. “A country which meets the Maastricht Criteria is economically more robust than other countries.” Tusk said. In total, Poland´s economy will become more prosperous and competitive.
According to recent surveys, only 33% of the respondents are in favor of the common currency. As Poland has held a public vote in 2003 on the EU accession, there will be no separate public vote on the euro introduction. The public vote in 2003 has also contained the monetary union.