Central and Eastern European economies may have to face steep sacrifice ratios in order to keep inflation within the target range for euro accession, says Kryzsztof Rybiski, the deputy president of the National Bank of Poland.

Speaking in Warsaw last Friday, Rybiski said: "The tailwind of globalisation appears likely to fade in the coming few years and if agflation or a surge in other commodity prices materialises, joining EMU (economic and monetary union) may become a "mission impossible" for