Hold or Fold on Złoty

PM Donald Tusk is promoting adoption of the Euro in Poland, but for this to happen the government needs to reach an agreement with President Kaczynski and the opposition, who oppose the idea of introducing single currency in Poland as early as 2012, the government’s target date.

According to Dziennik daily, the ruling Civic Platform party is ready to accept an opposition demand and hold a nation-wide referendum on the single currency in Poland.

Poland's economy has been relatively unaffected by the global financial melt-down while the Euro has steadily dropped in value against the U.S. Dollar and other currencies.

In order to put the plan into practice the government needs to change the constitution. For this to happen the government needs to solicit support of the President and the opposition. Jaroslaw Kaczynski, leader of the largest opposition party in Poland, Law and Justice, has indicated that an entry date of 2020 or even 2025 is a more realistic proposition, believing that too early an entry into the Euro Zone would be harmful for Poland’s economy.

Sometimes governments do stupid stuff. Read Atlas Shrugged by Ayn Rand - better yet listen to it on audio book it is one of the longest novels in the world at 1,000 pages, nearly 700,000 words and 12 hours of listening. Who's John Galt?