Janusz Niedzwiecki, expert and publicist on European studies gave an exclusive interview to Eurasia Diary regarding the negative attitude of Eastern European countries towards eurozone.

Eurasia Diary: From your opinion, why Poland and other new members of the European Union are skeptical about the Economic and Monetary Union?

Janusz Niedzwiecki: The skepticism regarding the Economic and Monetary Union has two main reasons in my opinion. First of all, this is a question of national sovereignty. Europe is currently experiencing a sort of renaissance of the national idea, and thus European societies are much more affected to the national symbols, than it was five or ten years ago. National currencies are seen directly as one of the most important elements of national pride and sovereignty. The second issue is an increase in uncertainty about the future of the EU and a general decline in confidence towards the European institutions. This crisis of trust is the main objective obstacle to the possibility of deepening European economic and monetary integration. All other issues, such as the fear of price increase after Euro currency adoption or the weakening of the competitiveness of national economies, are also playing an important role in stopping new countries from entering into the European Monetary Union, but the question of trust in the Euro as a currency and the Union as a stable political and economical project are decisive.

Eurasia Diary: What kind of economic principles Eastern European member countries should carry out in order to join eurozone?

Janusz Niedzwiecki:  In my opinion, the reform of the European banking system is crucial. The Eurozone crisis has exposed the weakness of the whole Euro project. This is why it is necessary to increase the competence of the European Central Bank and to introduce uniform supervision standards and regulations of capital markets, banking sector and the rating agencies in order to increase the stability of the eurozone and to protect it from the future crises. Without it there is no way to efficiently detect financial frauds and implement regulations that ensure the stability of the entire eurozone. The recent financial crisis, triggered by the lack of proper integration and transparency of the EU fiscal and banking sector, is the best proof that we urgently need stronger development of fiscal and banking sector inside the EU.

Eurasia Diary: How do you think, what is important role that European integration has been playing in the elimination of poverty, economic and social prosperity in Eastern Europe? 

Janusz Niedzwiecki: With all disadvantages and weaknesses, there is no doubt that the European Union is most ambitious social and economic project in the modern history of our continent.  As such it plays a key role in the eradicating poverty and stimulating economic development. It is also noteworthy that one of the greatest achievements of Western Europe in social sphere-the welfare state is to certain extent widened to the countries of eastern and central Europe and  thus the societies of the new EU countries can become  beneficiaries of a better and broader social care. It is worth mentioning also that such significant project as the charter of fundamental rights of the European Union would not be possible without the EU.  The European Union is today - with all the drawbacks and weaknesses of the present European project - the most effective tool for ensuring Europe's economic prosperity, peace, and social justice.