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Poland may adopt euro in 2012

Poland may adopt the euro in 2012 at the earliest, Poland’s central bank chief Slawomir Skrzypek told Polish media on Thursday.

“It (meeting Maastricht criteria) will create an appropriate moment for the decision on when to join in the process,” Skrzypek said. “It should be remembered that the decision to be made would be only the first step,” he added. “Then we will enter Exchange Rate Mechanism two (ERM2) to last for some two years and pose a big challenge for the stability of our currency as well as result in lots of problems, as we can see it in Slovakia,” Skrzypek was quoted by Polish news agency. So the earliest date for euro adoption is 2012, he added.

On Wednesday Poland’s Deputy Prime Minister and Finance Minister Zyta Gilowska said Poland would meet Maastricht criteria in 2009 and will then announce its readiness to negotiate euro adoption. (