NBP: Reforms should precede euro zone entry

Poland should decide on joining the euro zone only after it has carried out well though-over reforms, according to a report published on Thursday by the National Bank of Poland. These reforms should lead to improving the foundations of Poland’s economy and adjusting it to structural characteristics of the euro area states, the report said. The central bank said that its analysis has shown that there are more advantages to adopting the euro than costs. Nevertheless, experience from the last crisis shows that steady economic growth is not a certain thing in countries with the common currency. The NBP also named the risk of a real estate market bubble.