Poland does not meet criteria to become member of euro zone - EC report

2024-06-26 15:00 update: 2024-06-27, 21:48
Photo PAP/EPA/STEPHANIE LECOCQ
Photo PAP/EPA/STEPHANIE LECOCQ
Poland, along with five other non-euro area Member States that are legally committed to adopting the euro, does not meet the conditions to become a member of the euro zone, according to a report by the European Commission.

The European Commission, on Wednesday, published the 2024 Convergence Report which provides an assessment of the progress non-euro area Member States have made towards adopting the euro. 

According to the report, Poland currently does not meet any of the four criteria for joining the euro zone.

The convergence criteria include price stability, sound public finances, exchange rate stability and convergence in long-term interest rates.

Also not eligible for the euro zone are Bulgaria, Czechia, Hungary, Romania and Sweden.

The reports are issued every two years, or when there is a specific request from a Member State to assess its readiness to join the euro area.

Currently, the euro zone consists of 20 countries. (PAP)
jch/aj

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