Why
#EuroMisja?
We have been struggling with very high inflation for several months. Credit rates are growing at an alarming rate, and the governmentand the National Bank of Poland, which depends on that, cannot handle it.
The Polish Zloty is a weak and unstable currency today. The priority must be to start a debate on Poland's acceptance of the euro.
During the #EuroMisja, carried out in cooperation with the Economic Freedom Foundation, we visited over 100 cities and towns throughout Poland.
While meeting with citizens from July to October 2022, we presented a mobile exhibition on the euro and handed out leaflets, debunking myths about the European currency.
As part of the campaign, we also organized over 30 press conferences, during which we debunked the myths related to the euro.
Strong currency
in the time of crysis
Over the last two years, starting from the Covid-19 pandemic, the Polish zloty, like other currencies of Central European countries, has significantly weakened. This phenomenon intensified during Russia's attack on Ukraine. Investors are fleeing to safer global currencies, such as the Euro, while withdrawing from local currencies, such as the Polish Zloty.
This means that given the local currency: we will pay more for all imported products, such as electronic equipment, cars, alcohol, clothes or basic industrial products, fuel and gas will become more expensive, because we pay for raw materials in EURO installments of foreign currency loans will increase
The world is unstable, and in such conditions the quotes of the currencies of the largest economies always strengthen. Having the Euro, Poland would not have to fear the negative consequences of currency depreciation in times of crisis, and would even benefit from them.
Euro means cheaper loans
Because the eurozone is stable and highly developed, interest rates in the eurozone are lower than in Poland. The last time the base interest rate in the Eurozone was higher than 1% was in 2011. Since 2016, it has been at 0% and has not been raised even in conditions of rising inflation in the Eurozone.
The Eurozone has inflation about half lower than in Poland, which is why the European Central Bank can afford to keep interest rates at zero. In Poland, inflation is largely the result of political mistakes, which is why raising interest rates was necessary to save the situation.
As a consequence, borrowers in the Eurozone have been incurring very low costs of their financing for 6 years. Borrowers in Poland in the last 8 months and subsequent interest rate increases were forced to pay installments up to 2 times higher than in autumn 2021. The stability of the Eurozone would protect us from such an increase.
Euro is common
Although the project of a common European currency did not materialize until two decades ago, it turned out to be a great success. Out of 27 countries of the community, 19 already use it today, Croatia and Bulgaria will soon join this group.
Moreover, many small countries outside the EU have also chosen to use the Euro as their currency. Around 341 million people already use it in everyday life, making it the second most used currency in the world.
By adopting the common currency, we will spare European tourists visiting our country and our citizens traveling across the continent from having to exchange money. We will also increase security and price stability
Euro is politically independent
The monetary policy of the Eurozone is the responsibility of the European Central Bank, an institution with well-established trust in the financial markets and high independence. Key decisions are made by the Governing Council, which brings together the Management Board of the Bank and the governors of central banks of the euro area countries. Thanks to such a body, the ECB makes decisions independently, it is not possible for governments to influence its policy.
If Poland were in the Eurozone, no political pressure on the shape of monetary policy would be possible, as is the case today. Glapiński could not be the administrator of political decisions. The European Central Bank would act in the interest of protecting our currency, not in implementing government policy. It would also lead to greater discipline in public finances than is the case today.
Euro means
european integration
The European Union has been following one, clearly defined direction since its inception. It is the integration of the Member States, which has both political and economic dimensions.
Adoption of the common currency is a milestone in the field of integration - it binds economies in a permanent way and almost completely eliminates the threat of a country leaving the community. By adopting the euro, we would bury the chances of Polexit once and for all.
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