Locked content EU with an ‘offer you cannot refuse’ to expand euro zone

The European Commission is working on an offer which will make adopting the euro more attractive to the EU members, European Economic and Financial Affairs Commissioner Pierre Moscovici said. “We will try to make a framework that is attractive enough, that is like, as they say in the movies, an offe...

Locked content Poland might join the euro zone in 10-20 years – Deputy PM

According to Deputy PM Mateusz Morawiecki, Poland is not ready to adopt euro as its currency, and such action could be consider after 10-20 years. “If in 10-20 years macro and microeconomic factors will allow us to adopt euro, we could consider it by then,” he said. According to one of the oppositio...

Italy, the only euro zone economic loser

Italy’s Gross Domestic Product has dropped by 0.4 percent since the country joined the euro zone. Even though Rome’s GDP expanded 6.2 percent since 98, its population has decreased by 6.6 percent, according Eurostat data, compiled by Bloomberg.

Locked content Mood in euro zone better than expected

  The index of sentiment in the euro zone economy was 107.9 points in January compared to 107.8 points in the previous month, the European Commission said in a statement. Analysts expected in the index to be at a level of 107.8 points.   The consumer confidence index rose to minus 4.9 poin...

Locked content Poland met 3 euro convergence criteria in July

The Ministry of Finance informed that in July Poland fulfilled three euro convergence criteria: the fiscal criterium, the inflation rate criterium and the interest rate criterium. “The fiscal criterium was met. The EU lifted the Excessive Deficit Procedure in July, thus Poland reduced its exce...

Locked content Belka: Euro adoption is political

“The euro adoption is a political decision, made by political leaders and not by economists, possibly as the effect of unexpected events or a crisis,” head of the National Bank of Poland Marek Belka said during a meeting organized by the Bruegel think-tank in Brussels. “Economic fa...

Locked content Euro adoption is not linked with rating increase – S&P

The euro adoption would bring Poland long-term benefits in the field of crediting, according to a report issued by Standards & Poor’s (S&P). The agency, however, will not increase Polish sovereign credit rating automatically when the state joins the euro zone. According to S&P, eur...

Locked content Poland managed to meet two Maastricht criteria in November

Poland met two out of five euro convergence criteria in November, the Ministry of the Treasury informed. “In November, Poland met the criterion on price stability. Average annual HICP indicator growth was 0.2 percent (the lowest ever) and was lower than the reference value by 1.1 percent points,” th...