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Majority of Poles oppose 2012 euro plan - poll

Published 11/18/2008, 08:10 AM
Updated 11/18/2008, 09:32 AM

WARSAW, Nov 18 (Reuters) - A majority of Poles oppose the government's plans to introduce the euro in 2012, according to a poll published on Tuesday that underlines the political risks dogging the project.

Prime Minister Donald Tusk's centre-right government has said it may call a referendum on joining the euro in 2012 if the eurosceptic main opposition party refuses to help amend the constitution, a crucial legal step before euro adoption.

The TNS OBOP poll, cited by the state PAP news agency, shows 37 percent of Poles want to join the euro a few years after 2012 and a further 34 percent are opposed to ever joining the common currency. Only 20 percent want to join as soon as possible.

Tusk needs opposition Law and Justice (PiS) party backing to change the constitution, which now states that only the central bank can set monetary policy, a task assumed by the European Central Bank when a country joins the euro zone.

But the nationalist-minded PiS has refused to cooperate, arguing that early euro adoption could stymie Poland's strong economic growth by requiring higher interest rates.

The PiS backs a referendum, but under Polish law the result of such a vote is only binding on a turnout of more than 50 percent, a prospect political analysts say is unlikely.

The government says the euro will bring greater economic stability. The zloty has lost about 9 percent of its value against the euro this month alone as investors flee emerging markets for safe havens amid the global financial crisis.

Unlike Britain and Denmark, Poland and other ex-communist countries that joined the European Union in 2004 have no legal opt-out from joining the euro, but the timing of membership is left to individual governments.

The TNS OBOP poll, which canvassed 1,000 people on Nov. 6-7, was conducted for the Polityka weekly. (Writing by Gareth Jones, editing by Tim Pearce)

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