East Europeans happy to wait in the wings for the euro

(WARSAW) - The eurozone debt crisis has taken some of the shine off joining the euro, with most of the Eastern European countries waiting in the wings happy to wait a while longer.

CZECH REPUBLIC

Nearly 70 percent of Czechs oppose their country of 10.5 million adopting the euro, with just 18 percent in support, according to a poll by the SANEP institute published in November.

Prime Minister Petr Necas has said on numerous occasions that his government won't set a date for the Czech Republic joining the single currency during its term in office which expires in 2014.

The Czech National Bank and the finance ministry recommended in mid-December not setting an adoption date and not entering the ERM II mechanism in 2012 -- the two-year waiting room for eurozone candidates which pegs their currencies to the euro.

POLAND

Nearly three-quarters of Poles want to stay outside the euro, while 22 percent want to join, according to a poll published at the beginning of December.

Poland, eastern Europe's powerhouse with a population of 38 million, has not set a euro accession date but plans to meet all entry criteria by 2015.

"It is a strategic objective. We want to join the eurozone, but not right now," Marek Belka, the governor of Poland's central bank, said at the beginning of December.

BULGARIA

Bulgaria, with its population 7.4 million, could meet the euro's entry criteria as soon as in 2012, according to the government. While the government has reaffirmed its objective to adopt the euro, it has not set a date nor entered the ERM II waiting room.

HUNGARY

The country of 10 million is struggling with an economic crisis that could see it bailed out for the second time in a handful of years, which could set back efforts to meet euro entry criteria. In any case, Hungary's current government doesn't envisage adopting the single currency before 2020.

LATVIA

The Baltic nation of 2.2 million people intends to adopt the euro in 2014, a target that was confirmed by the government in October. Missing the inflation target remains its primary risk, but the government has pledged to take any necessary measures if it rises.

LITHUANIA

The Baltic nation of three million just missed joining the euro in 2007 when its inflation came in slightly above the level required. The country's centre-right now plans on adopting the single currency in 2014. However opponents outnumber supporters with 49 to 43 percent, according to a poll published at the end of November.