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Home >> Business
UPDATED: 13:34, November 23, 2005
Poland to set timetable to join euro zone in two or three years: PM
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Polish Prime Minister Kazimierz Marcinkiewicz said Tuesday his country would decide on its schedule to join the euro zone in two or three years.

To set the date now is "unrealistic" and could bring about much negative impact, said the leader at a symposium on Poland's investment environment, adding this could be "bravely" done in two or three years' time.

Marcinkiewicz said his government would primarily ensure the stability of public finance, be more dedicated to reducing budgetary deficit and strive to meet, in four years' time, the criteria set by the Maastricht Treaty for the adoption of the European Union's common currency, the euro.

The so-called Maastricht convergence criteria require euro candidates to meet strict macroeconomic targets including low inflation and interest rates and a public spending deficit limit of lower than 3 percent of GDP.

Poland is the only country among the 10 new EU members that has not set the schedule for joining the euro zone.

Earlier this month, the European Commission, the executive arm of the EU, expressed unease over Poland's uncertainty on the single currency and urged it to set a deadline for adopting the euro.

Marcinkiewicz responded that it would be unnecessary for Poland to join in the euro zone within four years.

Source: Xinhua


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