A Quote by Ewa Kopacz
I have never said I would adopt the euro. Not today, not tomorrow, not in five years. We will introduce the euro when it will benefit Poles and Poland.
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Concerning the common currency: today, the euro is not worth it for Poland. The reason why we survived the financial and economic crisis quite well is that we have a national currency. This will not change in the near future.
You've got some very powerful countries: Poland, the United Kingdom, Sweden and others who have a genuine desire to see the euro zone straighten itself out. It's good for all of us, whether you're in the euro zone or not, to make sure that it doesn't lead to a fracturing.
I don't want euro bonds that serve to mutualize the entire debt of the countries in the euro zone. That can only work in the longer-term. I want euro bonds to be used to finance targeted investments in future-oriented growth projects. It isn't the same thing. Let's call them 'project bonds' instead of euro bonds.
I am sure the euro will oblige us to introduce a new set of economic policy instruments. It is politically impossible to propose that now. But some day there will be a crisis and new instruments will be created.
Businesses will only invest in Greece if three conditions are fulfilled. First, there must be a clear commitment to the euro. No businesses will invest if they have to fear that Greece will leave the euro zone at some point. Second, the Greek government must be prepared to work together with European institutions in order to restructure the country.
Germans tend to forget now that the euro was largely a Franco-German creation. No country has benefited more from the euro than Germany, both politically and economically. Therefore what has happened as a result of the introduction of the euro is largely Germany's its responsibility.
So when you are faced with a decision on the euro, it is not surprising that many people are confused. They still try to squeeze the euro debate into the old language. But deep down it is a matter of deciding where one's future lies. It is a matter of political will and courage.
If we do not resolve the euro crisis, we will all pay the price. And if we do resolve it, we will all benefit, particularly German taxpayers and savers.
We all live in a free Poland, and there would be no free Poland without you, Twenty-five years ago, I did not stand on the same side together with you, but today I have no doubts that it was your vision of Poland which led us in the right direction.
Italy may well be the main problem. It has benefited most from the euro by having been able to get the euro interest rate instead of what otherwise would have been its own. That would be much higher because Italy has been accumulating so much debt. In the past, Italy has inflated away its debt. The virtue of the euro is that Italy can't do it alone. A tight ECB policy wouldn't permit that to happen again.
The euro zone was driven by the neoliberal view that markets are always efficient. That in itself is political. There was no pressing economic need that the euro was required to solve, but leaders believed that it would foster growth.
So if the euro, if Euroland is to become a reserve center, if the euro is to become a reserve currency, Euroland will have to have a deficit in its overall balance of payments.
Thanks to the euro, our pockets will soon hold solid evidence of a European identity. We need to build on this, and make the euro more than a currency and Europe more than a territory... In the next six months, we will talk a lot about political union, and rightly so. Political union is inseparable from economic union. Stronger growth and Euorpean integration are related issues. In both areas we will take concrete steps forward.
Europe must dissipate any doubts over the euro, affirm that the euro is an irreversible project and act in consequence.
The battle of the euro is being fought right now in Spain and Italy...The future of the euro is at stake in the next few weeks...
The euro pleases dispirited people for whom European history is not Chartres and Shakespeare but the Holocaust and the Somme. The euro expresses cultural despair.
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