Juncker’s euro-push could risk unity, warns eastern flank

junker

The idea of herding central and eastern European countries into the core of the EU by urging them to join the euro by 2019, has so far created little momentum among non-eurozone member states. European Commission president Jean-Claude Juncker said in his state of the union address last month that all EU countries (who do not have an opt-out) should join the single currency by 2019.

The EU executive will put forward concrete proposals on 6 December, including financial incentives provided by a new assistance instrument for non-euro EU countries. But in effect, what the EU Commission sees as an invitation to avoid further fragmentation, countries such as Hungary and Poland interpret as political pressure, risking increased divisions.

“Some actors would like to use the eurozone reform as a very good reason to provide much deeper reform of the union, at the cost of integrity. Here, we have tension,” Konrad Szymanski, Polish state secretary for EU affairs told reporters in Brussels recently.

He said countries should not adopt the single currency because of political pressure, contrary to their own economic assessments. “This is the beginning of a political tension,” Szymanksi said.

“The EU is a little bit [of a] wider camp, wider organisation, it is of vital importance to everyone to hold the unity of the union,” Szymanski said…

Read more : EUObserver, 10.10.2017