The future of the euro area – Poland’s geo-economic perspective

Abstract

The article presents the discussion about the future of the euro area. The starting point of this analysis is an outline of the main conclusions drawn from the crisis in this area, which began in 2010. Next, the documents regarding future reforms of the Economic and Monetary Union (EMU), submitted by the European institutions during 2015-2017, will be analysed. Subsequently, the discussion on these proposals among the member states, especially the most influential – France and Germany, is being analysed. The article is aiming at considering the preliminary results of these negotiations and the possible reforms of the euro area. The Author is also wondering whether these reforms can adequately prepare the monetary union for another crisis or even worsening the economic situation in Europe. In this context and in relation to the broader geopolitical situation in 2018, the question is raised whether Poland should mull over joining the EMU. Finally, the geo-economic consequences of entering the EMU or being outside the monetary union will be examined in a situation where the reforms of this area are incomplete and the eurozone seems to be not well prepared for a possible next crisis.