Poland should keep its own currency “forever”, believes the president of the National Bank of Poland (NBP) and the chairman of the Monetary Policy Council (MPC) Adam Glapiński.
“Own currency is extremely beneficial for a country that is developing. Thanks to this, we have stable conditions to go 2-2.5% faster than rich EU countries. Own currency must be maintained – not, as some say, for as long as possible, but keep it forever. We are not a great country, but certainly a large one, where own currency works best. The benefits of adopting the euro may apply to Lithuania, Croatia, Estonia or smaller countries with very open economies. But a country as large as Poland should have their own currency “- said Glapiński in an interview for” Gazeta Bankowa “.
He emphasized that economic shocks and fluctuations may be amortized to a large extent with changes in the exchange rate of this currency, and not with the unemployment rate, if the currency is retained.
“If we had the euro, each crisis would bring a greater decline in economic activity, that is, an increase in unemployment, as in Italy and Spain” – he stressed.
In the event of external crises, he added, a country “without its own currency has no tools to protect its own economy.”
“For international business, it would be better if we had the euro instead of the zloty. Operations on the common currency are simpler, the availability of capital is greater, there are no additional costs. But the point of view of the interests of the Polish economy is different” – assessed the head of the central bank.
Source: ISBnews
