The problems of Polish road to the euro zone in the face of crisis phenomena in European economy Cover Image

Trudności polskiej drogi do strefy euro wobec zjawisk kryzysowych w gospodarce europejskiej
The problems of Polish road to the euro zone in the face of crisis phenomena in European economy

Author(s): Wawrzyniec Michalczyk
Subject(s): Economy
Published by: Wydawnictwo Uniwersytetu Ekonomicznego we Wrocławiu
Keywords: euro zone; economic crisis; monetary integration

Summary/Abstract: The article aims to present selected aspects of the impact of the crisis in the European economy on the process of Poland’s monetary integration with the euro zone. The first part presents basic conditions resulting from problems with the balance of public finance in the EU countries and the increasingly negative perception of the euro zone by the authorities and society, the second one briefly shows the results of an analysis of several key indicators that determine the degree of convergence of the Polish economy with the euro zone and, in this context, fulfilling the conditions of optimum currency area. As the research methods there were used: a method of the statistical data analysis which is commonly used in the economic sciences and – to a lesser extent – the analysis of literature. The negative phenomena, occurring for some time in the world economy, made the Polish road to the euro zone more difficult. Fiscal imbalances and a significant increase in interest rates of securities Trudności polskiej drogi do strefy euro… issued by member states of the common currency area, and demonstrated little resistance of the monetary union to the global recession seem to make the perception of the process of monetary integration in Europe by Polish society less and less positive. Another problem is the revaluation of the indicators determining the possibility of meeting the convergence criteria and conditions of an optimum currency area. In this situation, Poland’s accession to the euro zone may lose its positive connotation. The scale of pessimism in this regard is increased, on the one hand, by an observed progressive difficulty in mastering the situation in European finan cial markets by the authorities, and on the other – by the propositions of the reconstruction of a common cur rency area, emerging from time to time.

  • Issue Year: 2012
  • Issue No: 18
  • Page Range: 62-74
  • Page Count: 13
  • Language: Polish