EU country says euro should be optional

Aug 22, 2022 | BUSINESS

Poland’s foreign minister thinks that Eurozone countries should be able to ditch the single currency

The EU needs a reform that would allow member states to abandon the euro and return to their national currencies, Polish Foreign Minister Zbigniew Rau said in an interview with the newspaper Rzeczpospolita on Monday. 

“The equality of member states requires the restoration of equal opportunities for their development, which, in turn, should lead to the reform of the Eurozone. The radicalism of this reform cannot a priori exclude any solutions, such as … a temporary or permanent return of some of the Eurozone member countries to national currencies,” the foreign minister stated. 

The head of Poland’s ruling Law and Justice Party, Jaroslaw Kaczynski, has previously said that transitioning to the euro would lead to a radical impoverishment of the Polish people.

Poland joined the European Union in 2004 but does not use the euro as its currency. Although under the Treaty of Accession all new EU member states must join the Eurozone, countries do have the right to postpone their adoption of the single currency, which Poland has done. However, it is still expected to eventually replace its currency, the zloty, with the euro.

The current government has repeatedly opposed joining the Eurozone for the foreseeable future, stressing that it’s about “Poland maintaining its independence and sovereignty.”

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