Poland, the European Union’s fastest growing economy, wants to become a member of the eurozone (członek strefy euro), but its finance minister (minister finansów) says the country (kraj) will wait until “it is safe to do so.”

Poland wants to join the eurozone, but there is still a lot to be done and the eurozone has a lot of homework to do.

Minister Jan Vincent-Rostowski says the eurozone must be “repaired” and that there is more work to be done. Half the job has been done, but Poland is still not entirely out of the woods.

He says at the moment there is no real safety (bezpieczeństwo) when problems arise in the eurozone and there needs to be fewer restrictions on the European Central Bank (Europejski Bank Centralny), for example when it comes to buying government bonds (obligacje rządowe).

“We feel that the so-called firewall is inadequately large and we feel that the freedom of action that the ECB thinks it has is inadequate,” minister said.

But despite the difficult economic climate (trudna sytuacja ekonomiczna) engulfing much of Europe, Poland’s economy is continuing to grow.

According to Vincent-Rostowski, between 2008 and 2011 Poland achieved a cumulative growth of almost 16% — double that of the EU’s second fastest growing economy, Slovakia.

Regardless of Poland’s growth, the country is enacting a policy of austerity (polityka zaciskania pasa). Vincent-Rostowski sees this as the most important part of the country’s fiscal policy (polityka fiskalna). He says Poland will reduce the ratio of public debt to gross domestic product this year, and is almost certain that they will eliminate “excessive” public debt (dług publiczny).

The finance minister believes his country is well placed should the eurozone’s economic prospects improve, or even if they weaken, saying that scenario helps Poland’s export performance.

Do następnego razu… (Till next time…)