1st March 2013
Thursday, June 20th, 2013
Fiscal compact ratified
President Bronisław Komorowski signed into law the EU's fiscal pact (formally the Treaty on Stability, Coordination and Governance in the Economic and Monetary Union). The Polish parliament voted for its ratification last week.
The fiscal pact was signed in March 2012 by all EU states excluding the United Kingdom and the Czech Republic. It sets rules for state budgets that are aimed at avoiding a new euro zone crisis. It came into force on January 1, 2013.
Ratifying the treaty means that Poland accepts its rules. It does not however force any legal obligations on the state as Poland is not a member of the euro zone.
From Warsaw Business Journal
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