Public support for euro adoption in Poland falls to record low

Support for Poland’s adoption of the euro has dropped to 26 percent, the lowest level in years, according to a recent survey conducted by the Ariadna National Research Panel. The data shows a clear decline in public backing, falling from 35 percent in 2023 and 31 percent at the start of 2024.

Three out of four respondents expressed opposition to replacing the Polish złoty with the euro, citing concerns over price increases and the impact on household budgets. Women in particular are strongly against the change, with 80 percent expressing opposition compared to 66 percent of men. This resistance is partly attributed to the perception that adopting the euro could lead to rising living costs, a fear voiced by 70 percent of women and 55 percent of men surveyed.

Among younger respondents, support is also limited. Only 24 percent of people under 34 years old favour joining the eurozone, despite this group often showing greater openness to European integration. Many Poles associate the złoty with national identity, viewing the currency as a symbol of sovereignty and uniqueness within the EU.

Supporters of the euro are most likely to include entrepreneurs and their families, who see potential benefits such as lower transaction costs and reduced exchange rate risks in cross-border business. However, consumer concerns remain dominant, with skepticism focused on the potential for price hikes and diminished purchasing power.

The topic of euro adoption remains politically sensitive. While Poland is formally committed to joining the eurozone under EU treaty obligations, no specific timeline has been established. Successive governments have deferred the decision, reflecting the persistent lack of public enthusiasm.

A 2021 report by the Warsaw Enterprise Institute (WEI), titled “Taking Advantage of Independence – the Euro vs. the Złoty,” concluded that economic theory and empirical evidence offer no definitive answer on whether adopting the euro would be beneficial or harmful. The report recommended caution, arguing that unless the advantages clearly outweigh the risks, Poland should continue to use its national currency.

The WEI also noted that maintaining a national currency alone does not ensure prosperity. Sound monetary and economic policy remains critical, with emphasis placed on lowering inflation, reducing regulatory burdens, and fostering private sector growth.

Source: WEI