Poland and The Euro

Poland And The Euro

Poland does not use the euro as its currency. However, under the terms of their Treaty of Accession with the European Union, all new Member States "shall participate in the Economic and Monetary Union from the date of accession as a Member State with a derogation", which means that Poland is obliged to replace its currency, the Złoty, with the euro eventually.

There is no target date for Polish euro adoption, and no fixed date for when the country will join ERM-II (the fifth euro convergence criteria). However, the government of Poland plans to comply with all the Euro adoption criteria by 2015, and the governor of the Polish Central Bank has stated that the country will not join before 2016. Euro adoption will require the approval of at least 2/3 of the Sejm to make a constitutional amendment changing the official currency from the Złoty to the euro. The opposition Law and Justice Party opposes euro adoption and the governing parties do not have enough seats in the Sejm to make the required constitutional amendment. PM Tusk has said that he may agree to a referendum on euro participation in order to gain their support for a constitutional amendment. Public support is against participation according to polls.

There is not yet any official information on the design process for the Polish national sides of the euro coins.