Don't miss

Replay


LATEST SHOWS

MEDIAWATCH

Flamboyant US Congressman's Instagram Lands Him in Bother

Read more

THE WORLD THIS WEEK

Compromise buys Greece time and Jihadi John is unmasked (part 2)

Read more

THE WORLD THIS WEEK

Compromise buys Greece time and Jihadi John is unmasked (part 1)

Read more

#TECH 24

Drone vs. drone

Read more

FRANCE IN FOCUS

The future of agriculture

Read more

REVISITED

Yalta, the symbol of a new Cold War?

Read more

#THE 51%

Women in the workforce: IMF says closing the gender gap makes economic sense

Read more

ENCORE!

Taryn Simon, the hottest property in art photography

Read more

FOCUS

Qatar's unofficial motto: To attract at all costs

Read more

Poland to accept euro in 2011

Latest update : 2008-09-10

Prime Minister Donald Tusk announced on Wednesday Poland's plans to adopt the European currency in 2011. It is the first time Polish officials have set a time table to join the Eurozone.

Poland, which joined the European Union in 2004, wants to adopt the eurozone single currency by 2011, Prime Minister Donald Tusk said on Wednesday, setting a target entry date for the first time.

"For the first time, I will say with responsibility that my government will aim for entry into the eurozone in 2011," Tusk said.

"It will be a difficult matter but possible to realise."

The largest of the 2004 EU newcomers, Poland agreed to meet macroeconomic criteria for euro adoption as part of its EU accession agreement but until now had refused to set a target date to replace its currency, the zloty, with the euro.

In February, Finance Minister Jan Rostowski said Poland would meet the criteria for euro adoption -- mainly on limiting inflation -- by 2010-2012.

On Tuesday, Tusk's liberal government approved the country's draft 2009 budget which forecast economic growth at 4.8 percent and inflation at 2.9 percent.

The 2008 budget was based on economic growth of 5.5 percent with annual inflation at 2.3 percent.

The Polish zloty strengthened Wednesday against both the euro and the dollar on the heels of the prime minister's announcement.

Date created : 2008-09-10

COMMENT(S)