New blood (pool) for Euro Ponzi


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As a result of present and past efforts, euro adoption for Latvia in 2014 appears within reach, the International Monetary Fund says in its Concluding Statement of the IMF Mission.
It also adds that Latvia’s accession to the euro area would remove residual currency risk and, by addressing vulnerabilities stemming from foreign-currency exposures, enhance the stability of the already highly euroized financial system.

Poland is drafting a timetable for joining the euro and its economy will be ready for accession in 2015, President Bronislaw Komorowski was quoted as saying on Monday, a major vote of confidence in Europe's struggling single currency.

The comments by Komorowski were the strongest indication yet that policymakers in Poland, eastern Europe's biggest economy, were seriously considering a swift entry to the euro even though the euro zone is in the grip of a debt crisis.

"(Poland) is preparing an action plan that will be unveiled as a calendar for Polish preparations to enter the euro zone at the right moment," the official PAP news agency quoted Komorowski as saying on a visit to Italy.

"I am convinced we will achieve this ability of the Polish economy in 2015," he said.