Zloty on the slide

7th May 2010

The effects of the Greek financial crisis washed up on Poland’s shores, weakening the zloty and leading the deputy governor of the central bank to say that the country may have to delay its entry into the euro zone.

At one point the Polish currency slid to 4.1359 against the euro, its weakest point since December 2, and the battered zloty also had to endure one of its longest losing streaks for years as international investors sold assets in the country.

Experts said that the fire sale came from investors ditching the zloty and government bonds owing to worries over the EU’s periphery sparked by Greece’s financial turbulence.

“As in earlier, similar situations, it’s vital ...