Current no-no for the euro

26th November 2011

Poland would be foolish to consider joining the single currency at this present time says the country’s finance minister Jacek Rostowski.

According to news agency PAP, Mr Rostowski told TVP on Wednesday, “Under current conditions, with the eurozone as it is, adopting the euro is unthinkable.”

However, he did go on to add that adopting the currency was part of the long-term plan, but only when the time is right.

“We can make this move, but only when it is a safe time to do so for the Polish economy. In its present state, the eurozone is not functioning as it should be and it is not safe for its member states,” he claimed, before adding that he believed the euro was still “under construction”.

The comments follow the news that September witnessed the eurozone’s manufacturers’ worst reduction in orders in over three years (6.4 percent down on August) causing further to speculation over the crisis.

When quizzed about what will be taken into account when preparing next year’s budget, Mr Rostowski claimed the eurozone would be watched very closely, stating “100 percent of what is happening in the west.”