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Poland Pulls The Plug On Imminent Euro Entry

Tyler Durden's picture





 

It seems increasingly the European leaders themselves (absent the self-referential peripheral political paeons) are getting the joke in Europe. Following Buba's Weidmann's rational comments this morning (via Bloomberg):

  • *WEIDMANN SAYS CAN'T SOLVE EURO CRISIS WITH EVER BIGGER FUNDS
  • *WEIDMANN BANK FINANCING (Bailout - kicking the can) COULD WORSEN WITH EURO CRISIS

Now, Poland's deputy finance minister is pulling back dramatically from their desire to enter the European union:

  • *POLAND PLANS `OPPOSITE OF ACCELERATION' IN EURO DRIVE: DOMINIK
  • *POLAND SAYS EURO-AREA STABILITY IS NEW CRITERION FOR EURO ENTRY

It seems there is some rational thinking occurring in Europe - no matter how algos react to recycled headlines.

 


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Tue, 07/10/2012 - 10:43 | Link to Comment Cognitive Dissonance
Cognitive Dissonance's picture

Too late. You've crossed the event horizon and have been captured by the Euro black hole.

And you thought you were on the fast track to seventh heaven. Sucker!

Tue, 07/10/2012 - 10:47 | Link to Comment BaBaBouy
BaBaBouy's picture

RUN while you can ...

 

Poland probably haz better Credit right now than 3/4's of the other EUro boyz...

Tue, 07/10/2012 - 10:54 | Link to Comment Manthong
Manthong's picture

Poland Repudiates Perfidious European Pecuniary Ponzi.

Precious.

Tue, 07/10/2012 - 19:26 | Link to Comment nmewn
nmewn's picture

I'm long Pole with this news ;-)

Tue, 07/10/2012 - 10:43 | Link to Comment disabledvet
disabledvet's picture

Massive euro devaluation coming...if not imminent. The bulk of euro gold will be LENT in order that at "some time in the future" the "mistake" will be rectified. Could be worse...we shall see if it is.

Tue, 07/10/2012 - 10:45 | Link to Comment EscapeKey
EscapeKey's picture

CAN'T SOLVE EURO CRISIS WITH EVER BIGGER FUNDS

Clearly, he hasn't spoken with Krugman.

Oh, sorry. He advocated "keeping an eye out for excessive debts" while at the same time suggesting "$8-10tn stimulus programs", so clearly when he's wrong, he's right. And vice versa.

Tue, 07/10/2012 - 10:49 | Link to Comment FL_Conservative
FL_Conservative's picture

Oh, he's "keeping an eye out" for excessive debts.  He's just not advocating doing anything about them.  Unless, of course, they can get some class warfare going.

Tue, 07/10/2012 - 10:45 | Link to Comment 5-4-3-2-1-1-2-3...
5-4-3-2-1-1-2-3-3-2-1---0's picture

Bardzo slusznie.

Tue, 07/10/2012 - 12:49 | Link to Comment Gavrikon
Gavrikon's picture

Zgadzam.

Tue, 07/10/2012 - 10:46 | Link to Comment Mercury
Mercury's picture

Ouch,  this is like Jennifer Aniston getting dumped by R2D2.

Tue, 07/10/2012 - 11:24 | Link to Comment Nobody For President
Nobody For President's picture

Plus a big one on that - best laugh all morning!

Tue, 07/10/2012 - 10:51 | Link to Comment Dr. Engali
Dr. Engali's picture

After watching the rest of Europe .and being on the short end of the joke stick for 40 years, the Pol's decided enough is enough. Let them make fun of the rest of Europe for a while. We are tired of the Pollock jokes. 

Tue, 07/10/2012 - 10:46 | Link to Comment WhyDoesItHurtWh...
WhyDoesItHurtWhen iPee's picture

Mute point, soon there will not be a Euro.

Tue, 07/10/2012 - 10:48 | Link to Comment FXPortent
FXPortent's picture

Cue 80s horror chase music!

Tue, 07/10/2012 - 10:48 | Link to Comment Peter K
Peter K's picture

"Rational" and the present Polish post communist government? Probably not.

Domiinik must have been misquoted.

He was probably setting out the next Euro entry date. :)

Tue, 07/10/2012 - 10:50 | Link to Comment i-dog
i-dog's picture

How did these non-Bilderbergers (Weidmann and Dominik) slip into the financial decision loop?!!

Somebody was careless!  Tsk, tsk, Rocky ... no soup for you!

Tue, 07/10/2012 - 10:53 | Link to Comment serndipity
serndipity's picture

Their economy is very strong and the vast majority of it's citizens have been anti joining the EU as well.

Tue, 07/10/2012 - 10:53 | Link to Comment Getting Old Sucks
Getting Old Sucks's picture

When do they start advertising on Craigs List for new members?

Tue, 07/10/2012 - 10:56 | Link to Comment DOT
DOT's picture

Free massage with membership !

Tue, 07/10/2012 - 11:26 | Link to Comment Nobody For President
Nobody For President's picture

And Spiderman beach towel!

Tue, 07/10/2012 - 12:46 | Link to Comment Gavrikon
Gavrikon's picture

You meant to say ass-fucking, didn't you?

Tue, 07/10/2012 - 10:55 | Link to Comment snoopy
snoopy's picture

uhm not to nitpick, but Poland joined the European Union in 2004.

 

Snoopy

Tue, 07/10/2012 - 11:16 | Link to Comment ZeroPower
ZeroPower's picture

But theyre not in the single currency Eurozone. Initial target date of entry was Jan1 2010, pushed back to Jan1 2012, then to "around 2014", and most recently we get the "some time in the future but with no set date" comments.

Tue, 07/10/2012 - 11:05 | Link to Comment Monedas
Monedas's picture

Hooray for Poland !    My Social Suck check goes a long way, there's plenty of bread and sausage and they have the 2nd biggest silver mine ?              Monedas       1929           The Russians still won't leave them alone ?  What's that all about ? Ya can't keep 'em down on the state farm .... after they've seen war weary Warsaw .... ya gotta shoot 'em along with returning POWS and Polish officers ?

Tue, 07/10/2012 - 11:01 | Link to Comment Peter K
Peter K's picture

There won’t be any sudden acceleration of our euro plans, rather the opposite. We’ve pointed out an additional element in setting a timetable, the stabilization of the euro area, which didn’t exist before.

According to Bloomberg, Mr Dominik said that Poland would need a minimum of three years after pegging its currency to the euro in the European Union’s Exchange Rate Mechanism before actually adopting the currency.

Here is a fuller version from the DT.

Dominik was just CYA'ing for the Polish (read German puppet) governemnt. They (Gov) want in, but the mood of the public is very anti Euro presently. So what'cha gonna do? You tell the yobs what they want to hear.

And you can be for and against at the same time.

Tue, 07/10/2012 - 11:11 | Link to Comment Monedas
Monedas's picture

Thanks Peter K ! They downed the Polish presidential plane because the Poles prefer the company of the Germans over their traditional Slavic benefuckers .... the Russians ?        Monedas     1929        Comedy Jihad You Are Belong To Us

Tue, 07/10/2012 - 11:22 | Link to Comment Peter K
Peter K's picture

I am not sure what you are trying to say in the above, but it is common knowledge that the present Polish government is no more than a front for the Germans in the EU. The present PM plainly stated that he is just buying his time as PM until he lands a nice job in Brussels. Like his buddy Buzek. 

It is what it is, dude.

Tue, 07/10/2012 - 11:27 | Link to Comment Monedas
Monedas's picture

I wuz trying to say what you just said !  SEG/ON       Monedas      1929        Sometimes I make shit up .... you decide !

Tue, 07/10/2012 - 11:32 | Link to Comment Peter K
Peter K's picture

+

Tue, 07/10/2012 - 11:12 | Link to Comment Meesohaawnee
Meesohaawnee's picture

Good for Poland.. I have a few friends born there.. Without a doubt some of the nicest normal hardworking people on the planet. Kudos!

Tue, 07/10/2012 - 11:15 | Link to Comment orangedrinkandchips
orangedrinkandchips's picture

Run like crazy Poland....

1.) The grass is not greener on the other side

2.) If it is NOT broken, do not fix it!

Trust me....I know. This is a gift....

Tue, 07/10/2012 - 11:16 | Link to Comment orangedrinkandchips
orangedrinkandchips's picture

Poland does not want to be the sober one arriving late to the party when the other people are getting room spins (and they suck ass)!

just walk....

Tue, 07/10/2012 - 11:18 | Link to Comment orangedrinkandchips
orangedrinkandchips's picture

The two biggest EU lies?

1) The check is in my mouth and...

2.) I won't cum in your mail!

 

 

Tue, 07/10/2012 - 11:31 | Link to Comment Monedas
Monedas's picture

What Czech is in your mouf ?       I want some silver Zlotys for my stack !

Tue, 07/10/2012 - 11:26 | Link to Comment QuietCorday
QuietCorday's picture

Poland has had the best real GDP growth in Europe since the crisis; it is also the only EU state not to be in recession.

Poland would be stupid to join the euro; it would be like drinking poison.

Tue, 07/10/2012 - 11:33 | Link to Comment Paracelsus
Paracelsus's picture

Umm....Somebody gave a bunch of sub-prime mortgages to the Poles,which have to be repaid in Swiss Francs.As the Polish zloty is in the crapper,can someone tell me which bank is going to give all this crap to their taxpayers?   Major bank bailout in 3...2...1...

Tue, 07/10/2012 - 13:25 | Link to Comment battlestargalactica
battlestargalactica's picture

Why do the Poles have see-through garbage bags?

So those in the Eurozone can go window-shopping.

Tue, 07/10/2012 - 11:59 | Link to Comment shutdown
shutdown's picture

 

 

In related news, Poland has asked Russian Prime Minister Putin to meet with Polish leaders in Warsaw to explore forming an economic and mutual aid pact.

Tue, 07/10/2012 - 13:24 | Link to Comment riley martini
riley martini's picture

 Poland to reconsider sticking hand in wood chipper , considering what has happened to others with hand in wood chipper.

Tue, 07/10/2012 - 14:01 | Link to Comment MillionDollarBoner_
MillionDollarBoner_'s picture

Sigh! You know how this goes. If you don't join Germany's club voluntarily...

Tue, 07/10/2012 - 14:04 | Link to Comment MillionDollarBoner_
MillionDollarBoner_'s picture

"In related news, Poland has asked Russian Prime Minister Putin to meet with Polish leaders in Warsaw to explore forming an economic and mutual aid pact."

Ever heard of the Molotov–Ribbentrop Pact?

History doesn't repeat itself but it does rhyme...

Tue, 07/10/2012 - 16:27 | Link to Comment AndreiC
AndreiC's picture

Poland is in the EU, it pulled the plug on the eurozone entry. Please get this straight. You're not amateurs.

Tue, 07/10/2012 - 17:15 | Link to Comment ZaphodBeeblebrox
ZaphodBeeblebrox's picture

They are however not EMU(european monetary union) members. Still have the zloty here. Not Euros.

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