Should Poland Join The Eurozone? Magnus Franklin; Ssolbergj
Warsaw: Adopting the Euro soon?

The European Union is under pressure since 2009 as a result of the eurozone crisis. Greece, Spain, Ireland, Portugal Italy and recently Cyprus proved to be examples of the tumbling eurozone during the crisis. However, there are countries in the Old Continent that announced their will to endorse the euro, Poland being one of them.

While the crisis was a harsh hit to the US and EU member states, Poland came out nearly unscathed from the crisis. European states like Greece or Cyprus were much affected by the crisis, with a GDP growth far below zero per cent, whereas Poland managed to further increase its GDP in the last few years. 

Poland’s desire to join the euro is informed by its strategic perspective, not by its economy. The Prime Minister of Poland has recently realized that in times of an unstable eurozone it is better to uphold and create national debate. He made a wise decision by stating his intention to organize a referendum whether Poland should adopt the euro or not. 

This will be a very significant decision for Poland as the European Union seems to be splitting into a two-speed Europe  The core of Europe will be consisting of states that already have the euro as currency, and this group will have more influence over the Union through more integration and unity. Poland seems to be aware that to uphold its growing position in the EU it will soon have to adopt the euro if they want to be taken into account for strategic negotiations on the EU. Another reason for Poland’s desire to join the monetary union is its history and strategic geographical position. By adopting the currency Poland will make a significant step towards an even closer cooperation with Germany, which will create a solid relation that could be the engine of Europe . 

If Poland accepts the Euro as a currency it would not join the club before 2019, which is a significant fact. According to the economists the crisis should be over by that time and the eurozone should be stabilized. Thus, in my opinion to not stay behind the EU, Poland should adopt the euro, and implement the currency by the end of this decade.

Editor's note: If you want to learn more about Poland's recent success story within the European Union also check out this article by Andreea Anastasiu from February.

Photo Credits: Presidential Palace Warsaw by Magnus Franklin via flickrEuro symbol gold by Ssolbergj via wikimedia