Weakened zloty - time to rejoice

24th September 2011

Reports circulating in the business pages of the papers this week suggest that Poland may in fact have a number of reasons to be cheerful following the recent weakening of the zloty.

The bizarre claims come after the news that additional EU funding to the country will still be handed out in euro.
According to Rzeczpospolita, while total funding from the EU will remain at the as-agreed EUR 6.3 bln (between 2007-2013), the value in terms of zloty may increase by as much as PLN 42 bln to an estimated PLN 300 bln.

The paper states that Polish farmers alone look set to receive approximately PLN 14.6 bln from the European Union (up PLN 2 bln on last year), which due to the euro’s stronger p ...