2004 was a historical moment that welcomed Central Europe back after an era of Soviet yoke. The accession required great effort from all parties involved and, despite many obstacles, it was deemed a success. Yet, integration remains incomplete with respect to membership in the Schengen Zone and Euro Area.
Poland pledged to adopt the Euro when it joined the European Union in 2004. The adoption of the common currency will have a significant impact on the country’s future and will define our position in Europe. It should be noted that entry into the Eurozone is not only an economic issue but also a major political and social change.
In recent months, the topic of budget deficits has taken center stage in heated debates among economists and politicians, garnering significant attention in the media. In April, the caretaker government proposed a budget with a notable deficit of 6.1% of GDP for 2023. In June, Finance Minister Asen Vasilev proposed a new budget with a negative balance of 3%, which is right at the limit for fiscal stability as set in the Maastricht criteria of the European Commission.
“Road to Euro” is a Polish nationwide campaign kicked off in mid-2022 and run by the Economic Freedom Foundation. 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 and initiate the process of joining the eurozone.
Poland has been a member of the European Union since 2004, but has not decided to join the monetary union yet. Have Poland benefited or lost from this decision? For the last two years, starting from the COVID-19 pandemic, the Polish zloty, like other currencies of Central European countries, has been significantly depreciated.
The 20th anniversary of the euro was marked by an increase in price inflation. In the euro area, annual consumer price inflation reached 5% in December 2021. Lithuania recorded the highest rate of 11%.
The second lockdown in Lithuania is no different from the first one: there are no clear principles for economic relief, individual groups are fighting for their own interests, and the government is forced to constantly alleviate the emerging effects of the quarantine. But what if lockdowns persisted?
Against the background of the forthcoming crisis and problems in the leading economies in the Euro area such as Germany and Italy, we find an unexpected example of a booming economy in the Iberian Peninsula – Portugal.
The presentation of the recently published ECB and EC reports was highly anticipated by Bulgarians, as the Bulgarian government’s intention is to officially sign up for the eurozone waiting room by the end of June.
Previous tax cuts released 1% of GDP worth value to taxpayers’ pockets, followed by ongoing red tape cuts and market deregulations. These moderately intensive reform trends have created a methodologically based contribution for slight increase of economic freedom.
