Part of complete coverage on
Poland wants to join eurozone 'as soon as it's safe'
May 3, 2012 -- Updated 1653 GMT (0053 HKT)
- Poland is the European Union's fastest growing economy
- Poland's finance minister says the country wants to join the eurozone
- Finance minister Jan Vincent-Rostowski says the eurozone must be "repaired"
Warsaw, Poland (CNN) -- Poland, the European Union's fastest growing economy, wants to become a member of the eurozone -- but its finance minister says the country will wait until "it is safe to do so."
"We want to join (the eurozone)," Jan Vincent-Rostowski told CNN. "I think we feel that there is still a lot to be done and the eurozone has a lot of homework to do."
The minister says the eurozone must be "repaired" and that there is more work to be done. "We are very concerned, we think half the job has been done, but we are still not entirely out of the woods," he said.
He says at the moment there is no real safety net when problems arise in the eurozone and there needs to be fewer restrictions on the European Central Bank, for example when it comes to buying government bonds.
"We feel that the so-called firewall is inadequately large and we feel that the freedom of action that the ECB thinks it has is inadequate," he added.
But despite the difficult economic climate engulfing much of Europe, Poland's economy is continuing to grow.
According to Vincent-Rostowski, between 2008 and 2011 Poland achieved a cumulative growth of almost 16% -- double that of the EU's second fastest growing economy, Slovakia.
Regardless of Poland's growth, the country is enacting a policy of austerity. Vincent-Rostowski sees this as the most important part of the country's fiscal policy. He says Poland will reduce the ratio of public debt to gross domestic product this year, and is almost certain that they will eliminate "excessive" public debt.
The finance minister believes his country is well placed should the eurozone's economic prospects improve, or even if they weaken, saying that scenario helps Poland's export performance.
"We are fairly comfortable with both situations," Vincent-Rostowski said. "I am not too concerned one way or another."
Part of complete coverage on
April 12, 2013 -- Updated 1246 GMT (2046 HKT)
Turkey is a "source of inspiration" to show how Islam and democracy can go hand-in-hand, the country's deputy prime minister has told CNN.
April 5, 2013 -- Updated 1257 GMT (2057 HKT)
Bright, shiny and emblazoned with names like Ferrari and Lamborghini -- these brakes are almost as stylish as the cars they're hidden within.
March 21, 2013 -- Updated 1723 GMT (0123 HKT)
EasyJet's new London to Moscow route is an opportunity to attract more business travelers, according to the low cost airline's chief executive.
March 21, 2013 -- Updated 1745 GMT (0145 HKT)
If you're a business traveller in Europe, you'll no doubt have complained at length about the regions' airlines, be it the cost of a plane ticket or the quality of the food or the delays.
March 8, 2013 -- Updated 1032 GMT (1832 HKT)
European demands for the steel industry to cap emissions by 2020 are "unachievable" with current technology, according to an ArcelorMittal executive.
March 7, 2013 -- Updated 1851 GMT (0251 HKT)
At Oknoplast's production site outside Krakow, Poland, windows of all shapes and sizes are stacked up ready for delivery.
February 22, 2013 -- Updated 1647 GMT (0047 HKT)
We receive them almost on a daily basis; text messages alerting us that our taxi is outside or our dentist appointment is tomorrow.
February 22, 2013 -- Updated 1645 GMT (0045 HKT)
What happens when you mix detergent, cosmetics and a bucket load of adhesives? You get a multi-billion dollar German corporation called Henkel.
February 7, 2013 -- Updated 1824 GMT (0224 HKT)
It is said that the devil would never dare cross the River Tamar into Cornwall for fear of ending up as a filling in a Cornish pasty. The legend, it seems, could just be true.
February 7, 2013 -- Updated 1839 GMT (0239 HKT)
Europe needs to cut back on its red tape and be more competitive if it is to succeed on a global stage, according to Diageo's chief executive.
January 17, 2013 -- Updated 1735 GMT (0135 HKT)
Booms, busts and bubbles are all jargon you might associate with today's troubled Irish economy. But now you can add "beans" to that list.
January 17, 2013 -- Updated 1734 GMT (0134 HKT)
Multinational companies see Ireland as the "gateway" to investing in Europe, says the boss of the country's largest food company.
January 25, 2013 -- Updated 1155 GMT (1955 HKT)
UK Prime Minister David Cameron's voiced his intentions to let the British people vote on Europe. The mayor of London says it's all part of democracy.
January 11, 2013 -- Updated 1326 GMT (2126 HKT)
It started with one man peddling lavender and rosemary oil at local markets -- now it's a business valued at $4.8 billion.
January 10, 2013 -- Updated 1845 GMT (0245 HKT)
Jaeger LeCoultre CEO Jerome Lambert talks about the benefits of being part of a larger group.
December 27, 2012 -- Updated 1507 GMT (2307 HKT)
CNN's Richard Quest explores how European business leaders have dealt with the financial climate in 2012.
December 27, 2012 -- Updated 1451 GMT (2251 HKT)
CNN's Richard Quest looks at how European businesses have performed amid a cold climate of austerity.
Click here to read more of the top business stories from across the continent brought to you by the Marketplace Europe team.
Today's five most popular stories