Work on EU finance crisis plan to start 'this week'

Mikolaj Dowgielewicz

“Increased coordination in the eurozone will require further action and commitments,” Mikolaj Dowgielewicz has told Polish Radio.

Though Poland is not yet among the 17 eurozone nations, the nation will take part in negotiations on a new system of financial control with the bloc.

Mikolaj Dowgielewicz said that the agreement reached last Friday in Brussels was “a step in the right direction” and should bring more stability to the eurozone.

As the current heads of the EU presidency, Poland will be co0rdinating the negotiations until 31 December when the sic-month presidency ends.

Reporting to MEPs at the European Parliament, president of the European Council, Herman Van Rompuy promised: "Early March at the latest, this fiscal compact treaty will be signed.”

The UK will not be involved in the new regulations are vetoing a tax on financial services, which Prime Minister David Cameron claimed would harm London as a global financial centre. (pg)