The Euro is the currency of 20 out of the total 27 member states of the European Union (EU), and it is used by more than 340 million people. The Maastricht Treaty signed in 1992 laid the groundwork for the Euro-zone in order to foster economic integration. This officially came into being on January 1, 1999, when the Euro was introduced as an electronic currency. Euro banknotes and coins entered circulation three years later.
For Poland, as a member of the EU, it is legally obligated to eventually adopt the Euro. Over the last decade, public opinion in Poland has slowly shifted in favor of adopting the currency. Although there are no official plans to begin the adoption process, Prime Minister Donald Tusk, has said he is considering calling a referendum to prepare for a constitutional amendment in parliament that would abolish the Polish zloty.
While economic powerhouses like Germany and France have undoubtedly benefited from the common currency, smaller states have had different experiences. While these smaller states too have witnessed economic progress, they have also experienced challenges during periods of economic downturn and financial crisis.
While economic powerhouses like Germany and France have undoubtedly benefited from the common currency, smaller states have had different experiences. While these smaller states too have witnessed economic progress, they have also experienced challenges during periods of economic downturn and financial crisis.
