Adoption of euro, case: Poland

Source: Kinga Warda¸ PKF Malta

The latest research conducted by polish polling agency – CBOS (Centre for Public Opinion Research) done in July 2012 confirms that the number of Poles against the adoption of the euro zone rose incredibly.According to the survey¸ the opponents’ rate reached 68% (breaking the previous record¸ the proportion of control in January questioning access to growth 8 percentage points). It means that support for Polish membership to the EU is the lowest in the last 7 years (please¸ check the graph below).

Graph 1: Attitude of Polish citizen to European integration


Source: CBOS report¸ July 2012

The biggest support (reaching 64%) for replacing zloty by euro has been reported in January 2002. It was 2 years before Polish accession to the European Union. After 2004 this acceptance decreased gradually. In the years 2007 – 2008¸ the number of supporters and opponents of the adoption of the European currency were on the same level. After recent problems on the international stage (including mainly Greece and other European countries) the acceptance of the euro in Poland began to decline.

According to 28% of the respondents¸ adoption of the euro currency should be never introduced in Poland¸ 13% of the survey participants would like to see the euro introduced in Poland before 2014. Almost 38% are of the opinion that euro should be launched in 2015 at the earliest.

The important point is that the euro supporters are mainly the young Poles. The percentage of people opposed to the introduction of the common currency in Poland increases according to age group. The percentage of the respondents who consider the adoption of the euro by Poland as something positive is highest among students (20%) and among private investors (21%).

In addition¸ the enthusiasts of a common currency are in a good financial situation (22%)¸ they are also declaring a strong interest in politics (23%) and are supporters of the two major political parties (PO and Ruch Palikota).

As we can see in graph 2¸ the number of respondents who do not want euro currency in Poland increase systematically year by year.

Graph 2: Do you agree with replacing the Polish currency by Euro?

Source: CBOS¸ July 2012

Education level plays a major role in the acceptance of the euro zone in Poland – the higher it is¸ the more likely the respondents agree with euro currency in their country. Those with lower education (almost 30%) are against joining the euro zone by Poland.

According to the research surveyed by TNS Poland only 1% of the respondents would like the euro to be introduced in Poland this year¸ 2% were in favor of 2013 or 2014. Almost 30% commented favorably on the introduction of the European currency in 2015.

However¸ the government has suspended plans to introduce euro. Foreign Minister of Poland – Radoslaw Sikorski recently told EU officials that Poland would join the euro zone when it resolves its problems. Magazine DER SPIEGEL (German weekly news magazine) asked the Polish Foreign Minis