COMPARISON OF PUBLIC OPINION ON THE EURO IN THE EU NEW MEMBER STATES

Abstract

This paper gives a systematic presentation of public opinion on the euro: the expected consequences, the advantages, and also the fears people have about introducing the single currency. The research also aims to identify the economic variables that may influence citizens’ attitudes towards the euro. The econometric analysis indicates that a higher level of development and higher earnings have a positive impact on public support for the euro, while the unemployment rate and corruption have a negative effect. People think that the euro will have a positive effect; the majority of citizens in the non-euro area are in favour of adopting the euro (but as late as possible); the majority were afraid of losing control over the national economic policy; people expect abuses and cheating on prices during the changeover, and increased inflation following the adoption of the euro. The two countries most opposed to the euro are Poland and the Czech Republic due to political issues. The two countries that have announced the start of the euro adoption process are Croatia and Bulgaria.