Narodowy Bank Polski

Press Announcement from the meeting of the Inter-Ministerial Working Group on the Integration of Poland with the Economic and Monetary Union

  1. A further meeting of the Inter-Ministerial Working Group NBP (National Bank of Poland) and of the MOF (Ministry of Finance) on the integration of Poland with the Economic and Monetary Union was held on 19 July 2004. The meeting was chaired by Krzysztof Rybiński (NBP Deputy President) and Wiesław Szczuka (Under Secretary at the Ministry of Finance).

  2. The subject matter of the meeting were the issues connected with the current state of Poland's integration process with the Economic and Monetary Union and the preparation of a strategy for Poland joining the euro area. In particular, there was discussion of the intentions regarding the manner of accomplishing the Convergence Programme that had been presented to the European Commission by the Government of the Republic of Poland on 14 May 2004, within the framework of the process of coordination of the economic policy within the European Union. The Convergence Programme describes the medium term economic political strategy that ensures the achievement of a high degree of a permanent economic convergence with states which belong to the common currency area. The Convergence Programme defines the path of balancing public finances, which should allow the fulfillment of fiscal convergence criteria during the period until 2007.

  3. It was ascertained that within the framework of the work of the Group there will be an exchange of views between the MOF and the NBP on matters connected with the integration of Poland with the Economic and Monetary Union, which will concern in particular participation in the European Exchange Rate Mechanism II (ERM II) and the introduction of the euro in Poland. These views will next be taken into consideration in the formulation of drafts of official Polish policy by authorized Government and NBP organs, which will be presented, amongst others, at sittings of the Economic and Financial Committee (EFC) of the EU Council. This Committee is engaged in the preparation of decisions of the EU Council's Economic and Financial Committee (ECOFIN).

  4. It was decided that sittings of the Group will take place on a monthly basis.

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