Poland renewed its commitment to bid for early accession into the eurozone yesterday amid signs the financial crisis has prompted European Union leaders to consider shortening the entry process.

Warsaw’s declaration came after Sunday’s EU summit, where some leaders indicated they would think over Hungarian proposals for reducing the two-year period candidates spent in the Exchange Rate Mechanism-2 preparing for euro entry.

Amid tense scenes, EU leaders rejected separate Hungarian plans for an east European banking bail-out. But the summit backed a case-by-case approach to aid while some taking part suggested reviewing the time spent in the ERM-2, though not in relaxing other euro entry criteria.

Financial Times