October 2008 | Warsaw to speed Euro adoption

Poland’s government spelled out the country’s path to adopting the euro by 2012, part of a series of moves designed to help calm spooked investors who have been retreating from the Polish zloty as emerging market currencies are buffeted by the global financial crisis.

The plan calls for the government to begin talks on amending the constitution by early next year – the current document allows only Poland’s central bank to set monetary policy. Later in 2009, Poland would enter the ERM-2 European exchange rate mechanism, and the final exchange rate between the euro and the zloty would be set in the summer of 2011. Poland would be admitted to the common currency by January 1 2012.
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