Crisis and public support for the euro
Felix Roth, Lars Jonung, Felicitas Nowak-Lehmann 05 November 2012
The Eurozone crisis has meant slow growth, rising unemployment, and social unrest. This column gauges the impact of all this on European citizens‘ opinions about the euro and EU institutions. Using Eurobarometer surveys, the authors find that, within the Eurozone, the crisis has only marginally lowered support for the euro but has led to a sharp fall in public trust in the ECB.
The euro is a unique currency in at least two ways. It is the first time that a group of democratic countries have abolished their national currencies and replaced them with a single currency that is managed by a common central bank, the ECB. The euro is also unique in that data on public attitudes towards the euro have been collected for more than 20 years (Eurobarometer 2012). No such data exist for any other currency. Uniquely, we are able to trace how public support for the euro has evolved over time, and how attitudes have changed during the present financial crisis.
EU institutions Europe's nations and regions
public opinion, euro, trust, Eurozone crisis