Polish paper says euro would have destabilised economy during crisis


A working paper published by the National Bank of Poland today (October 30) says the Polish economy would have suffered greater instability had the country used the euro as its currency during the financial crisis.

The authors, Michał Brzoza-Brzezina, Krzysztof Makarski and Grzegorz Wesołowski, find that had Poland adopted the euro in 2007, the country would have experienced "substantially" higher GDP volatility and inflation would have increased substantially.

GDP growth could have oscillated

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