Belka: Don’t expect us to be enthusiastic about joining euro

Marek Belka, the head of the Central Bank, told British daily The Telegraph  that Poland will not join the euro while the euro zone remains in danger of “burning”. "You shouldn’t rush when there is still smoke coming from a house that was burning. It is simply not safe to do so. As long as the eurozone has problems with some of its own members, don’t expect us to be enthusiastic about joining," he said. Belka also warned that the world is left with few tools to tackle the next financial crisis. "We don’t have the option of decreasing interest rates. Far fewer countries have fiscal space to intervene in, so we are, as a whole, less prepared," he said. When asked about the bailout deal with Greece, Belka replied it was crucial that Greece, like Poland in the 90s, received debt relief from its creditors. "I think that what has been achieved [with the debt deal] provides temporary respite but not a solution. The real problem for Greece is how to reinvigorate sustainable growth. Without sustainable growth Greece will  fall into problems periodically," he said.