The government wants Poland in ERM-II in 2004 and in EMU in 2006Poland will enter the euro area in 2006 whereas the Polish zloty will participate in ERM-II as of 2004, according to the report on advantages and costs related to Poland's membership of the EU adopted by the government yesterday. So far neither the government nor the central bank have fixed the date of participating in ERM II and the euro area. The report said that the central bank and the Ministry of Finance will be able to make decisions on hard currency law liberalization after budget assumptions and guidelines of the monetary policy for 2001 are adopted. The report points out that participation in the euro area and ERM II will decrease investment risks and increase the influx of foreign investments to Poland. The government also accepted changes to the laws on radio and television and gambling and the lottery consist in lifting limitations for EU firms' operations on the Polish market. Changes to the law on the purchase of real estate by foreigners will consist of obliging the minister of internal affairs to follow the European treaty while issuing permits for land purchase for investments.
Źródło: IntelliNews Daily