Poland’s Road to Euro: Economic Freedom Foundation Takes Matters into Its Own Hands

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“Road to Euro” is a Polish nationwide campaign kicked off in mid-2022 and run by the Economic Freedom Foundation.

“Since Russia’s invasion of Ukraine, we have seen changes in the support for the euro. The indicator, measured by the Eurobarometer, has been improving, however, we cannot remain passive because the government and central bank do not inform and educate about European currency. Accordingly,  we decided to take matters into our own hands” says Marek Tatała, CEO of Economic Freedom Foundation. “In addition, public institutions are currently demonizing the euro and using anti-euro propaganda for political reasons. We must provide citizens with reliable information and data.”

The campaign’s main purpose is therefore to start an intensive debate on Poland’s accession to the eurozone, inform about the benefits of adopting the common currency, as well as prepare recommendations for necessary reforms (including fiscal responsibility, rule of law, lower inflation, flexible regulatory system and higher competitiveness of the economy) and initiate the process of joining the eurozone by consistently putting pressure on the government and politicians.

The current economic and political situation of Poland, together with many irresponsible policies, have a negative impact on the well-being of citizens, prospects for long-term economic growth and Poland’s image on the international stage. High inflation, the war in Ukraine, violating the rule of law and the weakening of our position in the European Union threaten the broadly understood security of Poland. “We should consider the eurozone as a somewhat ‘economic NATO'” write authors of the “Road to euro” website.

In order to face these challenges, Poland needs even stronger integration and closer relations with EU Member States. Furthermore, it should be emphasized that Poland has already decided to join the monetary union by becoming part of the EU 19 years ago.

The euro embeds the Member States more strongly in the structure of the European Union. It establishes higher credibility and attracts more investments” says Tatała. “The euro in Poland will reduce transaction costs and increase the chances of lowering interest rates. Accession to the eurozone combined with good economic policy will lead to higher economic growth and will benefit a substantial part of society.”

Importantly, Poland does not meet the conditions for joining the eurozone at this stage. We need to fix public finances, control inflation, increase the competitiveness and flexibility of the economy, as well as restore the rule of law.

Necessary reforms that should be implemented  during the road to euro will ensure an acceleration of the economic growth, facilitate the improvement of the living conditions of Poles, increase the security of the country and strengthen its position at the EU and global level. A well-thought-out package of reforms guarantees that Poland will not repeat the mistakes of those countries which, already in the euro area, pursued an irresponsible economic policy.

Over the years, many myths have grown around the euro, moreover, the issue of joining the eurozone has been ignored by politicians. These myths are gradually debunked on the campaign’s official website: kursnaeuro.pl.

Our mission is to present reliable information about the euro and effectively reach citizens, opinion leaders and politicians – so that Poland finally takes the right road: “Road to euro”!

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Economic Freedom Foundation