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Polish parliament approves EU fiscal compact

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February 20, 2013 05:17 AM EST | AP


WARSAW, Poland — Polish lawmakers have approved the European Union's fiscal compact, a set of rules that will limit public debt.

The vote Wednesday by the lower chamber of parliament empowers President Bronislaw Komorowski to formally ratify the compact.

The move comes as the lawmakers debate when Poland should adopt the euro.

An EU member since 2004, Poland is still to name the date when it intends to adopt the common currency. Officials say Poland should meet all financial requirements by 2015, but will wait for a moment best suited to its interests. Meanwhile, they argue, Poland should actively participate in decisions concerning the euro, used by 17 other country.

The fiscal compact took effect Jan. 1 in most eurozone countries. It will be binding for Poland after it adopts the euro.