More and more countries of the new EU are planning to enter the monetary union. Romania, Bulgaria and Croatia are preparing for this. The more countries join the euro area, the worse situation will be for those that will stay out of it.
At the moment, nine EU countries use their own currency. They are responsible for one quarter of the economy of the whole Community, and one quarter of the EU population lives there.
After the adoption of the euro by Romania, Bulgaria and Croatia – these countries are already at the final stage of preparations – the importance of countries remaining outside the monetary union will drop. They will then constitute one sixth of the EU economy, and the population that lives in it will be only 12 percent of the entire population of the Union.
These countries will not be helped by the fact that next year Britain will formally leave the EU. And this is what the state – hard standing at paying with a pound sterling – was an advocate of other countries outside the monetary union.
Having a common currency means joining the EU’s first league. Most economists agree that in the long run common money pays off. The mere declaration that Poland is eager to join the monetary union would, for example, open up the possibility of benefiting from several dozen billion euro budget lines in the upcoming financial perspective.