Poles are afraid of introducing the euro: “it won’t be enough for anything.” Reason? Lack of knowledge

During the study “Poles towards the prospect of introducing the euro”, commissioned by the Economic Freedom Foundation, Poles were initially asked about the biggest worries they face on a daily basis. Rather, it will not surprise anyone that the most frequently appearing answers were inflation and the associated high prices. Prices, which change at an alarming rate, force many people to control their spending and limit their options.

At the same time, apart from identifying the greatest fears, the sources of the sense of stability and security were also examined. Among the answers, the most common was the statement that it was the European Union. Participants emphasized that Poland has many benefits from being a member of the community. In addition, as a country belonging to the EU, our country has developed much faster than it would have been without EU assistance. The further part of the study revealed different interpretations of the benefits and costs of Poland’s presence in the EU depending on the age of the respondents.

Older people not only see the advantage of benefits over costs, but also evaluate the benefits of integration in a long-term perspective. On the other hand, younger respondents perceive the EU as an area of ​​competition between large states and possible dominance of Germany. On the other hand, they assessed the introduction of the euro in the short-term perspective, i.e. direct effects.

We are afraid of the euro because we know too little about it

Even though Poland committed itself to adopting the euro 20 years ago, when signing the accession treaty to the European Union, citizens’ knowledge of the common currency is almost non-existent. In conversations about the euro, many people use numerous false views or even myths related to the alleged “catastrophic” impact of the introduction of the euro on everyday life in other countries. Struggling with everyday high prices in Poland additionally makes the prospect of another price increase, which would be caused by the adoption of the euro, shocking for people.

According to the respondents, their concerns about the euro are primarily related to the fact that its introduction would lead to a rapid change in the foundations of their existence: wages would remain unchanged, and prices, rents and loan installments would go up. People with these fears do not want additional problems.

The study also revealed a psychological barrier in imagining reality with the euro: earning PLN 3,000 sounds much better than converting it into an amount of the same real value, at the level of EUR 600-700. Imagining a smaller amount immediately gives rise to the belief that after the adoption of the euro “it will not be enough for anything”. – Unfortunately, despite the fact that the myth of rising prices and the so-called euro-expensiveness in any country has not been confirmed, it is still the greatest source of fears of Poles related to the conduct of the euro – comments Marek Tatała, CEO of the Economic Freedom Foundation.

According to the survey, Poles form an opinion about the euro on the basis of insufficient or inadequate knowledge. As a result, they base their views on the euro on (often unfounded) fears and myths. Poles also did not have full knowledge about the euro in such a basic matter as the appearance of coins, which always have a common side and a national side. The common side of the coin shows a map of the European Union, or – in more recent coins – Europe, and symbolizes unity. Much more interesting, however, is the national side, which will also be decided by Poland when it adopts the euro, because each country decides on the national image of the coins.

In addition, a key issue in relation to the adoption of the euro is the lack of trust in the Polish state for Poles. Poles are very concerned that the actions of those in power related to the adoption of the euro will be non-transparent and non-transparent.

Positive aspects of adopting the euro

The advantages of adopting the euro, which Poles mention, include the improvement of Poland’s international position, easier flows of people, goods and services (business and tourism), including the increase in the convenience of trips to the countries of the euro zone. An additional incentive is also the current weak position of the zloty in the world and the possibility of replacing it with a stronger currency of international importance.

– The euro is a great geopolitical advantage for Poland, because it means stronger ties with the European Union and entering the very center of its decision-making centre. Without the euro, we are pushing ourselves to the margins of the Community. I believe that the euro should be referred to as an “economic NATO,” says Tatała

Poland does not meet the conditions to join the euro zone

The expert reminds, however, that currently Poland does not meet most of the convergence criteria, i.e. the conditions for joining the euro area. – The fears of Poles about the possibilities of the current rulers in bringing the Polish economy to meet the criteria are justified. After all, PiS politicians often emphasize how much they oppose the adoption of the euro. At the same time, these people are diligently silent that it is due to their own actions and omissions that Poland is not even eligible to adopt the common currency – explains Tatała.

In a similar vein, Prof. Artur Nowak-Far, Euro Program Advisor at the Economic Freedom Foundation. – The authorities are misleading citizens by saying that they are “blocking the adoption of the European currency” and even – which is extremely misleading – that they are “protecting Poland against the euro”. The truth is that they simply cannot meet the economic criteriaon which the opening of the door to the euro zone depends on Poland – says the expert. The role of the European Central Bank and legally defined rules of functioning in the euro area is also significant. – Politicians may be afraid of applying these rules and greater control of their actions, because they know that this means restrictions on the use of economic policy to achieve current political goals – adds Marek Tatała.