PM: Poland may not join fiscal pact if it divides EU into euro-zone and others.

By bne IntelliNews January 25, 2012
Poland may not join the newly proposed fiscal pact, if it divides the European Union into "two clubs": the euro-zone and countries remaining outside that area, PM Donald Tusk has announced after meeting president of the European Council Herman Van Rompuy. On Thursday, the cabinet is due to meet to discuss its stance on the issue, he added. Tusk also said he hopes for the support of the Polish parliament. Last week, the premier said that Poland is still in talks on gaining a status that will allow it to participate in the euro-zone's summits (without voting right) and it will sign the new fiscal pact depending on the results of these talks. A few days ago, media reported, citing unofficial sources, that since several euro-zone member states do not want to allow non-zone members to participate in the single currency area's summits even if these countries sign the new fiscal treaty, Poland has "serious doubts" on whether to sign the treaty. The final decisions are expected at the end of January. The EU summit in Brussels ended in December with 26 out of the EU27 member-states, including Poland (but excluding Britain), agreeing to sign a new "fiscal compact," a pact aimed at streamlining fiscal austerity within the organization.

Related Articles

EC refers Poland to court for delay on renewable energy rules.

The European Commission is referring Poland (and Cyprus) to the Court of Justice of the European Union for failing to fully transpose EU's Renewable Energy Directive, according to the ... more

ZEW Economic Sentiment Indicator for Poland surges to 42.9pts in February.

The ZEW-Erste Group Bank Economic Sentiment Indicator for Poland (economic expectations) surged by 22.3pts m/m to 42.9pts in February, according to a report by the Center for European Economic ... more

FinMin: Poland to inject EUR 5.5bn of FX reserves to ECB upon euro-zone entry.

When Poland joins the euro-zone, it will have to transfer EUR 5.47bn of its foreign-currency reserves to the European Central Bank, according to a statement by the ministry of finance. The ... more

Notice: Undefined index: subject_id in /var/www/html/application/controllers/IndexController.php on line 335