Flash Eurobarometer
European
Commission
Introduction of the euro in
the new Member States
Summary
Fieldwork: May 2011
Flash Eurobarometer 329 – The Gallup Organization
Publication: August 2011
This survey was requested by Directorate-General for Economic and Financial Affairs
and coordinated by Directorate-General Communication
This document does not represent the point of view of the European Commission.
Analytical Report, page 1
The interpretations and opinions contained in it are solely those of the authors.
Flash EB Series #329
Introduction of the euro
in the new Member States
Round 12
Survey conducted by The Gallup Organization,
Hungary upon the request of the
European Commission,
Directorate-General for Economic and
Financial Affairs
Coordinated by Directorate-General
Communication
This document does not represent the point of
view of the European Commission.
The interpretations and opinions contained in it
are solely those of the authors.
THE GALLUP ORGANIZATION
Summary
Flash EB No 329 – Introduction of the euro in the New Member States
Table of Contents
Introduction ........................................................................................................................................... 4
Main findings ......................................................................................................................................... 5
Awareness of – and experience with – the euro .................................................................................. 8
Awareness of the current number of euro area countries ............................................................... 8
Expected date of the euro’s adoption .............................................................................................. 8
Can new Member States choose whether or not to adopt the euro? ............................................... 9
Familiarity with the design of euro cash ....................................................................................... 10
Experience with euro cash............................................................................................................. 11
Where do people use the euro? ..................................................................................................... 12
Informing citizens about the euro ...................................................................................................... 12
Self-perceived level of information ................................................................................................ 12
Timing for the receipt of information about the euro .................................................................... 13
Trusted distributors of information on the euro ............................................................................ 14
Preferred channels of information ................................................................................................ 15
Most favoured topics of information campaigns ........................................................................... 15
Main activities and events essential to be included in an information campaign ......................... 16
The euro: perceptions and support for its introduction................................................................... 17
Consequences of the euro’s introduction – at a national and personal level ............................... 17
Support for the single currency ..................................................................................................... 18
Support for replacing the national currency by the euro .............................................................. 19
The most desired timeframe for the adoption of the euro .............................................................. 20
Status of the euro as an international currency ............................................................................ 21
Consequences of adopting the euro.................................................................................................... 22
Political and economic consequences of introducing the euro ..................................................... 22
Favourable political and economic consequences of the euro ...................................................... 23
The euro as an ingredient in European identity ............................................................................ 24
Practical consequences of the euro changeover ........................................................................... 25
Potential inconveniences of the introduction of the euro .............................................................. 26
page 3
Flash EB No 329 – Introduction of the euro in the New Member States
Summary
Introduction
All EU Member States shall adopt the common currency, the euro, once they have fulfilled the criteria
defined in the Maastricht Treaty on the Functioning of the European Union (with the exception of
Denmark and the UK which have a specific opt-out from these Treaty provisions). There is no
common strategy or fixed timetable with regard to the introduction of the euro in each of the Member
States that joined in 2004 or later, but the Treaty does require them to join the euro area at an
undefined date in the future.
Of the countries that joined the EU in 2004 or later, Slovenia, Cyprus and Malta joined the euro area in
2007 and 2008, Slovakia followed in January 2009 and Estonia in January 2011. Before adopting the
euro, a country must comply with the Maastricht criteria including membership in the Exchange Rate
Mechanism II (ERM II) for a minimum of two years. Lithuania and Latvia are members of the ERM
II, whereas Poland, the Czech Republic, Hungary, Bulgaria and Romania have not yet joined the
Mechanism.
Concerning the introduction of the euro in the Member States that joined the EU in 2004 or later, the
European Commission keeps track of general opinions, levels of knowledge and familiarity with the
single currency among citizens of the respective countries. This survey is the twelfth of its kind,
following earlier Flash Eurobarometer surveys in the period 2004–2010.
The objectives of this survey are identical to those of previous rounds: to identify and track citizens’
perceptions in non-euro area new Member States (hereafter referred to as the NMS7), regarding the
future introduction of the common currency.
The main themes of this report are an examination of:




levels of knowledge and experience of the euro among citizens in the NMS7
feelings as to whether these citizens are informed and their most favoured information channels
NMS7 citizens’ perceptions and support for the single currency
their expectations concerning the adoption of the euro and the envisaged potential
inconveniences related to it.
This report sums up the main attitudes towards the euro in the NMS7 and describes the climate of
opinion in each of the countries due to adopt the common currency in the future. It should be noted
that “average” perceptions might change because of the different composition of samples in
comparison to previous rounds: Slovenia was dropped from the surveys in 2007, Malta and Cyprus in
2008 and Slovakia in 2009. As of this survey, Estonia has been excluded. In addition, Bulgaria and
Romania joined the surveys as of autumn 2007. In the current round, the NMS7 average includes
Bulgaria, the Czech Republic, Hungary, Latvia, Lithuania, Poland and Romania.
The present questionnaire is fully comparable to those of 2006-2010. The survey’s fieldwork was
carried out between 2 and 5 May 2011. Over 7,000 randomly selected residents aged 15 and above
were interviewed in the NMS7. Statistical results were weighted to correct for known demographic
discrepancies.
page 4
Summary
Flash EB No 329 – Introduction of the euro in the New Member States
Main findings
Awareness of – and experience with – the euro

When asked about the exact number of Member States already in the euro area, about a quarter
(26%) of respondents knew the correct answer: 17 countries. This figure represents a decrease in
awareness compared to September 2010; at that time, the correct answer was 16 countries –
Estonia joined the euro area in January 2011. The proportion of respondents who were able to state
the exact number of euro area countries ranged from 20% in Romania to 36% in Hungary.

A majority (57%) of respondents in the NMS7 anticipated accession to the euro area to happen by
2016 at the latest. Roughly a fifth (21%) of interviewees thought their country would join the euro
area in 2017 at the earliest; a small proportion (5%) believed that accession to the euro area would
never happen.

The share of respondents who thought their country would join the euro area by 2016 at the latest
ranged from 41% in the Czech Republic and Hungary to 74% in Latvia. Focusing on changes that
have occurred since September 2010, respondents in Latvia, Lithuania, Poland and Hungary were
now more optimistic about a rapid accession of their country to the euro area.

Almost two-thirds (65%) of respondents believed that their nation had a choice as to whether it
would adopt the euro, even though the Accession Treaty obliges all new Member States to join the
euro area. Roughly a quarter of respondents correctly answered that their country had no choice in
this regard; at the individual country level this figure ranged from 19% in Poland to 35% in Latvia.

As in other rounds of the survey, in most NMS7 countries, citizens were more familiar with euro
banknotes than euro coins:
o
o

85% of respondents had seen euro banknotes and 79% had seen euro coins; 61% had already
used the banknotes and 54% had used such coins
while 48% of interviewees knew that euro banknotes had the same design in all euro area
countries, only 34% correctly stated that euro coins had partly different designs from country
to country.
Payments in euros in foreign countries were said to be more widespread than those made in the
respondents’ home countries. For example, a slim majority (52%) of respondents had only used euro
banknotes abroad, 20% had only used such banknotes in their home country and 28% had used them
both at home and abroad.
Informing citizens about the euro

A majority of citizens in the NMS7 did not feel well informed about the euro: 42% said they were
not very well informed and 16% did not feel well informed at all. Focusing on respondents who felt
informed about the euro, 34% answered that they felt rather well informed and 6% said they were
very well informed.

In Romania, Hungary, Poland, Latvia and Bulgaria, a majority of respondents felt not well
informed about the euro (54%-61%). In the Czech Republic, equal shares of respondents felt either
well informed or not well informed about the euro (48% and 51%, respectively).

A majority of respondents – who did not feel well informed about the euro – would like to receive
information about the introduction of the euro well in advance of the changeover: 33% would like
to be informed as soon as possible (+6 percentage points compared to September 2010) and 25%
would like to receive information at least a few years before the changeover (-4 points).

The proportion of survey participants who wanted to be informed as soon as possible ranged from
12% in Hungary to 40% in Romania. Similarly, between 22% of respondents in Bulgaria and 34%
of those in Latvia and Lithuania would like to be informed at least a few years before the
introduction of the euro.

More than three-quarters (78%) of respondents said they would trust information regarding the
euro and issues related to the changeover provided by their national central bank and almost twopage 5
Flash EB No 329 – Introduction of the euro in the New Member States
Summary
thirds (65%) said the same about information from the European institutions. Compared to the
previous round, the trustworthiness of euro-related information provided by European institutions
has decreased by four percentage points (from 69% in September 2010 to 65% in May 2011).

Half of respondents would trust information about the euro changeover from tax and fiscal
administrations (50%) and somewhat less than one in two respondents had faith in information
provided by consumer associations (47%), governments, national or regional authorities (46%) or
commercial banks (45%).

Television remained the most preferred channels for information about the introduction of the euro
(selected by 90%). Other popular channels for information were banks (80%), newspapers and
magazines (78%), the radio and the Internet (both 77%).

As for citizens’ views about the content of the euro information campaign, most respondents felt that
all of the suggested topics were important: the proportion of “essential” items ranged from 77% for
information on the appearance of euro banknotes and coins to 92% for the value of the national
currency in euros.

Respondents were also asked which campaign activities and tools were essential if they were to be
well prepared for the changeover. The dual display of prices was seen to be the most important
campaign tool; dual price displays in shops were most frequently mentioned (87%), followed by dual
price displays on utility bills (78%) and on pay slips (74%).
The euro: perceptions and support for its introduction

Equal shares of respondents in the NMS7 thought that the euro would either have positive or
negative consequences for their country (both 43%). The figures showed a constant decrease –
since May 2009 – in the proportion of respondents who believed that the euro’s introduction
would have a positive impact at a national level.

The proportion of NMS7 citizens expecting positive personal consequences from the introduction
of the euro also continued to decrease: in May 2011, 40% of respondents thought there would be
positive outcomes at a personal level (compared to 43% in September 2010), while 45% believed
in negative consequences (unchanged compared to September 2010).

Changes in respondents’ support for the fact that the euro could replace their national currency
were similar to those observed in regard to the general climate of opinion surrounding the euro’s
introduction. In May 2010, 48% of respondents were very or rather happy that the euro could
replace their national currency, this proportion decreased to 41% in the current round.

Romania was the only country where more than half of interviewees expected positive
consequences – for their country (54%) or for themselves (57%) – in the event that they joined the
euro area. Furthermore, 51% of Romanians said they were very or rather happy that the euro could
replace their national currency.

While 34% of interviewees in the NMS7 thought that their fellow citizens were very much or
rather in favour of the euro’s introduction, 45% of respondents believed that people they knew
were against (very much or rather) this idea. Compared to previous rounds, the current results
indicated some worsening in the climate of opinion concerning the euro.

The proportion of respondents who thought that the general climate of opinion surrounding the
euro’s introduction in their country was negative (i.e. they thought their fellow citizens were
against the changeover) ranged from 24% in Romania to 67% in the Czech Republic.

A relative majority of NMS7 citizens would like to see the euro introduced as late as possible
(40%). Roughly one-third (34%) of interviewees wanted the changeover to happen after a certain
time, while approximately one-fifth (19%) opted for as soon as possible. In most NMS7 countries,
respondents were more likely to want the euro to be introduced later rather than sooner.

Somewhat more than 7 in 10 (72%) respondents agreed that the euro had the status of an
international currency, similar to the US dollar or the Japanese yen; one in five respondents
disagreed with this proposition.
page 6
Summary
Flash EB No 329 – Introduction of the euro in the New Member States
Consequences of adopting the euro

Somewhat more than 4 in 10 (43%) respondents believed that the changeover to the euro had had
very or rather positive consequences in the countries that were already using the euro, while a
somewhat lower proportion (39%) thought the euro’s impact had been very or rather negative.
Compared to September 2010, the public has become more sceptical about the consequences of
the euro in the euro area countries.

In Romania, Hungary and Latvia, respondents who thought the euro’s impact had been positive in
the euro area countries outnumbered those who believed that its impact had been negative.
Respondents in the Czech Republic were the most pessimistic: 63% thought that euro area
countries had seen negative consequences after the changeover.

A large majority (70%) of NMS7 citizens expected that the euro’s introduction would increase
prices in their country; roughly one in five (19%) thought that it would contribute to price
stability. Few respondents (4%) expected no impact.

Romanians showed the least concern about price increases due to the euro’s introduction: 48%
expected that goods and services would be more expensive once the euro was introduced. In all of
the other NMS7 countries, a majority of interviewees were concerned that prices would increase;
this figure ranged from 67% in Hungary to 80% in Poland.

Respondents most frequently agreed that Europe’s place in the world would be reinforced when
the euro was introduced in their country: 57% expected this outcome. Lower shares of respondents
believed that adopting the euro would ensure sounder public finances (41%), low inflation rates
(39%), lower interest rates (38%), and would stimulate growth and employment (38%).

As was seen in the previous round, respondents in Hungary were the most likely to agree with
most of the statements that suggested a positive impact on the national economy, while those in
the Czech Republic were the most likely to disagree with each of the statements.

About one in two (49%) respondents thought that using the euro would make people feel more
European; this was the lowest level of agreement measured since April 2006. In Hungary, just
30% of respondents agreed that using the euro would make people feel more European; in the
remaining countries, between 45% and 52% of respondents agreed with this proposition.

As was seen in previous rounds, an overwhelming majority of NMS7 citizens agreed with statements
suggesting that travelling and shopping in countries that use the euro would become easier:
o
o
o
o
91% agreed that joining the common currency would be more convenient for those who travel
in other countries that use the euro
85% agreed that the euro would make it easier to shop in other countries using the common
currency
79% confirmed that joining the euro area would allow them to easily compare prices with
those in other countries that use the euro
75% thought that the euro’s introduction would eliminate any charges relating to currency
exchange when, for example, visiting other countries that use the euro.

Respondents were rather pessimistic about the power of the euro to protect their country against
the effect of international crises – about one-third of respondents agreed with this statement (34%,
-3 percentage points compared to September 2010).

Respondents were also asked to evaluate some potentially negative impacts due to the euro’s
introduction. As in previous rounds, the only potential inconvenience (among the statements
presented) that a majority of respondents in the NMS7 countries shared were possible abuses and
cases of cheating on prices during the changeover. The proportion of respondents who expressed
concerns in this regard ranged from 63% in Romania to 81% in Poland.

Most respondents did not express concerns about personal inconveniences that could be caused by
the changeover (55%), a negative effect on their country’s identity (53%) or a loss of their
country’s control over economic policy (52%).
page 7
Flash EB No 329 – Introduction of the euro in the New Member States
Summary
Awareness of – and experience with – the euro
Awareness of the current number of euro area countries
When asked about the exact number of Member States already in the euro area, about a quarter
(26%) of interviewees knew the correct answer: 17 countries. The current result represents a
decrease of six percentage points in awareness of the euro area when compared to the previous round
conducted in September 2010 (at that time, the correct answer was 16 countries – Estonia joined the
euro area in January 2011).
A majority of interviewees gave an incorrect answer: 34% thought that 13 countries had already
started using the euro, 11% believed that the correct answer was six countries and 5% thought that all
EU Member States had introduced the common currency. Finally, 24% of respondents did not know
what to answer or simply chose not to respond to this question.
Number of current euro area countries
6
05/2011 %NMS7
11
09/2010 %NMS8
12
05/2010 %NMS8
11
13 (12)
17 (16 / 15)
34
27 (25)
DK/NA
26
30
5
32
30
24
3
31
23
4
25
09/2009 %NMS8
13
05/2009 %NMS8
14
29
29
4
24
05/2008 %NMS9
13
31
28
4
25
27
4
25
3
25
09/2007 %NMS11
04/2007 %NMS11
29
15
09/2004 %NMS10
28
5
26
21
04/2006 %NMS10
09/2005 %NMS10
29
18
09/2006 %NMS10
27
40
23
38
18
38
15
39
20
3
17
19
3
17
16
16
26
2
2
26
28
Q5. According to you, how many EU countries have already introduced the euro?
(figures in parentheses were asked in previous surveys)
The proportion of survey participants who were able to state the exact number of EU Member
States in the euro area ranged from 20% in Romania to 36% in Hungary. In the previous round,
28% of Romanians knew the correct number of countries that use the euro as their currency; in May
2011, however, just 20% were able to provide the correct answer (-8 percentage points).
Other countries that have seen a significant decrease in the share of correct answers were the Czech
Republic (from 38% in September 2010 to 32% in May 2011; -6 percentage points) and Poland (from
31% to 25%; -6 points). None of the countries have seen an opposite trend – i.e. an increase in the
share of respondents who knew the exact number of euro area countries.
Expected date of the euro’s adoption
A majority of respondents in the NMS7 anticipated accession to the euro area to happen by 2016
at the latest: 7% thought their country would join the euro area in the period 2011-2012, 20% said
this would happen in the period 2013-2014 and 30% thought this would be the case in the period
2015-2016.
page 8
Summary
Flash EB No 329 – Introduction of the euro in the New Member States
Roughly a fifth (21%) of interviewees thought their country would join the euro area in 2017 at the
earliest, and a small proportion (5%) believed that accession to the euro area would never happen.
Finally, 18% of respondents gave no answer or said they did not know when the euro would be
introduced.
Expected date of the euro’s adoption
2011-2012
2013-2014
2015-2016
2017 or later
Never
DK/NA
100
90
80
70
18
5
18
3
7
21
60
19
21
4
2
17
21
13
14
11
4
3
5
9
32
30
30
20
28
35
36
43
20
20
10
0
43
29
50
40
13
17
25
26
18
27
26
11
13
34
16
7
10
9
7
6
4
3
2
NMS7
BG
PL
RO
LV
LT
HU
CZ
Q5ter. When, in which year do you think the euro will be introduced in [ COUNTRY]?
% by country
The proportion of respondents who thought that their country would join the euro area in the
coming five and a half years (by 2016 at the latest) ranged from 41% in the Czech Republic and
Hungary to 72% in Bulgaria and 74% in Latvia. Conversely, the proportion of respondents who
said this would happen at a later stage – in 2017 or later – ranged from 7% in Bulgaria and 9% in
Latvia to 43% in Hungary. Respondents in the Czech Republic were the most pessimistic with 13%
saying that accession to the euro area would never happen in their country (compared to 2%-5% in the
other NMS7 countries).
Focusing on changes that have occurred since September 2010, respondents in Latvia, Lithuania,
Poland and Hungary were now more optimistic about a rapid accession of their country to the
euro area. In the remaining countries, on the other hand, the proportion of those pessimistic about a
fast accession to the euro has increased compared to the previous round of this survey.
Can new Member States choose whether or not to adopt the euro?
Almost two-thirds (65%) of respondents in the NMS7 believed that their nation had a choice as
to whether it would adopt the euro or not, even though the Accession Treaty obliges all new
Member States to join the euro area. Roughly a quarter of respondents (26%) knew that choosing to
adopt the common currency or not it is not an option, but a legal obligation for the Member States.
Compared to September 2010, the share of respondents who correctly answered that their country had
no choice in this regard has decreased by six percentage points (from 32% to 26%). Finally, 9% of
interviewees did not know how to answer the question.
An awareness of their country’s legal obligation to join the euro area was the lowest in Poland,
where roughly a fifth (19%) of respondents answered the question correctly. In Romania, 27% of
survey participants knew that their nation has no choice as to whether or not to adopt the euro; in all
other countries, however, a third – or more – of respondents were aware of this legal obligation
(ranging from 33% in Hungary to 35% in Latvia).
page 9
Flash EB No 329 – Introduction of the euro in the New Member States
Summary
Can Member States choose whether or not to adopt the euro?
Yes
05/2011 %NMS7
No
DK/NA
65
09/2010 %NMS8
26
60
05/2010 %NMS8
63
09/2009 %NMS8
63
05/2009 %NMS8
62
05/2008 %NMS9
32
8
28
9
29
8
28
67
04/2006 %NMS10
8
29
64
09/2006 %NMS10
9
27
62
04/2007 %NMS11
8
29
65
09/2007 %NMS11
9
8
26
69
7
26
5
09/2005 %NMS10
58
30
11
09/2004 %NMS10
57
33
10
Q5bis. Can [COUNTRY] choose whether or not to introduce the euro?
Compared to September 2010, most NMS7 countries have seen a decrease in the number of
respondents who knew that the Accession Treaty obliges all new Member States to join the euro
area. The largest decrease in the number of informed citizens was seen in the Czech Republic: from
45% in September 2010 to 34% in May 2011 (-11 percentage points). None of the countries have seen
an increase in the share of respondents who answered this question correctly.
Familiarity with the design of euro cash
As in previous rounds of this survey, respondents were more likely to be familiar with the design of
euro banknotes than with the design of euro coins: while 48% of interviewees knew that euro
Insert only to summary report
banknotes had the same design in all euro area countries, only 34% correctly stated that euro
coins had partly different designs from country to country (a two percentage point decrease from
September 2010).
The graphic design of the euro banknotes
05/2011 %NMS7
48
09/2010 %NMS8
51
05/2010 %NMS8
52
09/2009 %NMS8
46
… and coins
22
05/2011 %NMS7
41
30
19
09/2010 %NMS8
42
29
19
05/2010 %NMS8
22
09/2009 %NMS8
30
32
46
38
34
25
36
33
37
22
22
25
05/2009 %NMS8
50
29
21
05/2009 %NMS8
42
34
23
05/2008 %NMS9
52
27
21
05/2008 %NMS9
45
31
24
09/2007 %NMS11
49
28
23
09/2007 %NMS11
42
33
25
04/2007 %NMS11
50
27
24
04/2007 %NMS11
43
31
27
37
25
09/2006 %NMS10
45
32
23
09/2006 %NMS10
38
04/2006 %NMS10
46
34
21
04/2006 %NMS10
41
The euro banknotes/ coins look exactly the same in all countries
The euro banknotes/ coins have partly different designs from country to country
DK/NA
page 10
37
22
Q3-Q4. What do you think, which of the
following statements is correct?
%, all respondents
Summary
Flash EB No 329 – Introduction of the euro in the New Member States
In Poland, Hungary and Latvia, similar
shares of respondents were familiar with the
design of euro banknotes and the design of
euro coins. In the remaining countries,
however, respondents were more likely to be
familiar with the design of euro banknotes
than with the design of euro coins.
The design of the euro money
“COINS HAVE A PARTLY DIFFERENT DESIGN”
80
The most striking difference was seen in
Romania, where respondents were more
likely than their counterparts in the other
NMS7 countries to be familiar with the
design of euro banknotes (67%), while they
were by far the least familiar with the actual
design of euro coins (17%).
More familiar with the
design of euro coins
70
60
50
HU
PL
40
CZ
LV
LT
BG
30
RO
20
10
More familiar with the design
of euro banknotes
0
0
10
20
30
40
50
60
70
80
“BANKNOTES LOOK EXACTLY THE SAME”
Experience with euro cash
Q3-Q4. What do you think, which of the
following statements is correct?
The current round of the survey also showed
% by country
again that, in the NMS7 countries, euro coins
only
to summary
report
were less known and less widely used than euro banknotes. About 8 inInsert
10 (79%)
respondents
had seen
euro coins and a slim majority (54%) said they have used euro coins. The corresponding
proportions for euro banknotes were 85% and 61%, respectively.
Seen and used euro banknotes
….. and coins
85
05/2011 %NMS7
61
83
09/2010 %NMS8
60
83
05/2010 %NMS8
57
81
09/2009 %NMS8
55
82
05/2009 %NMS8
55
82
05/2008 %NMS9
09/2007 %NMS11
04/2007 %NMS11
09/2006 %NMS10
04/2006 %NMS10
53
79
50
77
48
77
45
80
45
Seen
79
05/2011 %NMS7
54
77
09/2010 %NMS8
54
76
05/2010 %NMS8
09/2009 %NMS8
05/2009 %NMS8
05/2008 %NMS9
09/2007 %NMS11
04/2007 %NMS11
09/2006 %NMS10
04/2006 %NMS10
Used
52
76
49
74
48
74
47
72
44
68
41
70
41
75
41
Q1a/b. Have you already seen euro banknotes/coins?
Q2a/b. Have you already used euro banknote/coins ?
%, all respondents
The proportion of respondents who had already seen euro banknotes ranged from 79% in Bulgaria to
89% in Romania (a difference of 10 percentage points). As in previous rounds, larger differences
between NMS7 countries were seen when looking at the proportions of respondents who had already
used these banknotes: this proportion ranged from 51% in Lithuania to 70% in the Czech Republic (a
difference of 19 percentage points).
Comparing the current results with those obtained in September 2010, the most notable changes were
observed in Hungary, Lithuania and Latvia. These countries have seen an increase of more than five
percentage points in the proportion of respondents who had seen euro coins; in addition, more citizens
in these countries had used euro coins when compared to the previous round. Furthermore, in Hungary
page 11
Flash EB No 329 – Introduction of the euro in the New Member States
Summary
and Lithuania, both the proportion of respondents who mentioned having seen euro banknotes and the
proportion who mentioned having used these banknotes have significantly increased from September
2010 to May 2011.
Where do people use the euro?
As in previous rounds, payments in euros in foreign countries were said to be more widespread
than those made in the respondents’ home countries. A slim majority (52%) of respondents – who
had already used euros – had only used euro banknotes abroad, 20% had only used euro banknotes in
their home country and 28% had used them both at home and abroad. The corresponding proportions
for euro coins were 63% for “only abroad”, 12% for “only in their home country” and 24% for “both
at home and abroad”. No significant changes were seen in the usage of euro banknotes and coins,
compared to the findings of the previous round.
Where do people use the euro ...?
Banknotes
Coins
05/2011 %NMS7
20
52
28
05/2011 %NMS7
12
63
24
09/2010 %NMS8
18
53
28
09/2010 %NMS8
14
62
23
05/2010 %NMS8
23
51
26
05/2010 %NMS8
16
61
22
09/2009 %NMS8
22
55
23
09/2009 %NMS8
15
64
21
05/2009 %NMS8
25
50
25
05/2009 %NMS8
15
60
24
05/2008 %NMS9
24
50
25
05/2008 %NMS9
16
60
23
09/2007 %NMS11
24
51
24
09/2007 %NMS11
16
61
23
21
04/2007 %NMS11
19
04/2007 %NMS11
29
50
61
19
09/2006 %NMS10
15
66
20
09/2006 %NMS10
11
70
19
04/2006 %NMS10
13
67
20
04/2006 %NMS10
9
71
19
In [country]
Abroad
In [country] and abroad
Q2bis. /Q2ter. You said you already used euro banknotes/coins. Was it ..?
Base: those, who have already used euro banknotes/coins
In almost all countries, there was a wide gap between a large majority of respondents who had
only used euros abroad compared to a minority who had (also) used them at home. For example,
67% of Hungarians had only used euro banknotes in a foreign country, while only half as many (33%)
had used them both abroad and at home or only at home; the corresponding proportions for euro coins
were 70% vs. 30% (a gap of 40 points).
Romania’s results were also characterised by a wide gap, but in the opposite direction: while just 18%
of Romanians had only used euro banknotes abroad and 27% had only used euro coins outside of
Romania; 82% of Romanians said they had (also) used euro banknotes in their home country and 72%
said they had done the same in regard to euro coins (a gap of 64 points for euro banknotes and a gap of
45 points for euro coins).
Informing citizens about the euro
Self-perceived level of information
A majority of citizens in the NMS7 did not feel well informed about the euro: 42% said they were
not very well informed and 16% did not feel well informed at all. Focusing on respondents who felt
informed about the euro, 34% answered that they felt rather well informed and 6% said they were very
well informed. These results were practically unchanged compared to those in the previous round.
page 12
Summary
Flash EB No 329 – Introduction of the euro in the New Member States
Evolution of self-perceived information level regarding the euro, %
Very well
informed
Rather well
informed
05/2011 %NMS7
6
09/2010 %NMS8
7
05/2010 %NMS8
6
09/2009 %NMS8
6
Not very well
informed
Not at all
well informed
34
DK/NA
42
16
2
40
17
2
34
42
16
1
34
43
16
1
34
05/2009 %NMS8
8
05/2008 %NMS9
6
33
42
17
1
09/2007 %NMS11
7
34
41
16
2
04/2007 %NMS11
5
17
2
09/2006 %NMS10
5
16
2
04/2006 %NMS10
5
34
32
43
44
35
32
42
43
09/2005 %NMS10
3
29
51
09/2004 %NMS10
3
31
48
14
18
16
16
1
2
1
2
Q6. To what extent do you feel informed about the euro? Do you feel…:
In Romania, Hungary, Poland, Latvia and Bulgaria, roughly 6 in 10 respondents felt not very
well or not well informed at all about the euro (57%-61%), while roughly 4 in 10 respondents said
they felt very well or rather well informed (38%-41%). In Lithuania, respondents who felt not well
informed also outnumbered those feeling well informed – but the difference between these two groups
was somewhat smaller (54% vs. 43%; a difference of 11 percentage points). In the Czech Republic,
on the other hand, equal shares of respondents felt either well informed or not well informed
about the euro (48% and 51%, respectively).
Focusing on changes that have occurred since the previous round of the survey, it was noted that the
proportion of citizens who felt not very well or not well informed at all about the euro has decreased in
the Czech Republic (from 56% in September 2010 to 51% in May 2011, -5 percentage points) and in
Latvia (from 68% to 61%; -7 points), but has increased in Romania (from 49% to 57%; +8 points).
Timing for the receipt of information about the euro
As in previous rounds of this survey, a majority of respondents – who did not feel well informed
about the euro – would like to receive information about the introduction of the euro well in
advance of the changeover: 33% would like to be informed as soon as possible (+6 percentage points
compared to September 2010) and 25% would like to receive information at least a few years before
the introduction of the euro (-4 points).
Roughly 3 in 10 (29%; -4 points) respondents said that they would like to receive information about
the euro a few months before the introduction of the currency, while a small number of interviewees
preferred to be informed a few weeks before the changeover (7%; +2 points). Finally, 7% of
respondents did not answer this question.
The proportion of survey participants who wanted to be informed as soon as possible about the
introduction of the common currency ranged from 12% in Hungary to 40% in Romania.
Similarly, between 22% of respondents in Bulgaria and 34% of those in Latvia and Lithuania would
like to be informed at least a few years before the introduction of the euro.
page 13
Flash EB No 329 – Introduction of the euro in the New Member States
Summary
Desired timeframe for being informed about the euro
As soon
as possible
A few years
before
05/2011 %NMS7
33
09/2010 %NMS8
27
05/2010 %NMS8
29
09/2009 %NMS8
A few months
before
A few weeks
before
25
29
29
32
6
31
6
5
30
37
22
31
05/2008 %NMS9
37
25
27
34
24
30
04/2007 %NMS11
29
09/2006 %NMS10
29
30
31
04/2006 %NMS10
28
30
33
26
7
5
05/2009 %NMS8
09/2007 %NMS11
7
33
29
25
DK/NA
32
8
6
5 5
6
5
5
7
6
7
5 5
5 3
Q7. When would you like to be informed about the introduction of euro in [COUNTRY]?
Base: who are not informed
Trusted distributors of information on the euro
Trust is a key factor in the provision of information: citizens tend to differentiate between possible
sources based on an assessment of their trustworthiness. More than three-quarters (78%) of
respondents said they would trust information regarding the euro and issues related to the
changeover provided by their national central bank and almost two-thirds (65%) said the same
about information from the European institutions. Compared to the previous round, the
trustworthiness of euro-related information provided by European institutions has decreased by four
percentage points (from 69% in September 2010 to 65% in May 2011).
Half of respondents would trust information about the euro changeover from tax and fiscal
administrations (50%; unchanged) and somewhat less than one in two respondents had faith in
information provided by consumer associations (47%; + 1 point), governments, national or regional
authorities (46%; - 4 points) or commercial banks (45%; unchanged). The sources that respondents
had the least confidence in, for information about the euro and issues related to the changeover, were
journalists (39%; -2 points) and trade unions or professional organisations (34%; -3 points).
Trusted distributors of information campaigns (% ”trust”)
78
77
National Central Bank
65
European Institutions
69
50
50
Tax, fiscal administration
47
46
Consumer associations
Government, national or regional
authorities
46
50
45
45
Commercial banks
Journalists
Trade unions, professional
organisations, etc
39
41
34
37
05/2011
%NMS7
09/2010
%NMS8
Q8. For each of the following institutions or groups, please tell me if you
would trust information they provide on the changeover to the euro, or not?
page 14
Summary
Flash EB No 329 – Introduction of the euro in the New Member States
In all but one of the NMS7 countries, the national central bank was the institution that
respondents were the most likely to trust when it came to receiving information about the euro and
its introduction. Czech respondents most frequently answered that they would trust euro-related
information provided by their national central bank (89%); they were followed by respondents in
Romania (82%) and Hungary (80%).
In Lithuania, on the other hand, the largest proportion of respondents placed trust in European
institutions (66%), with the central bank ranking second (62%). In a further five NMS7 countries, the
second most trusted source of information about the euro were the European institutions, while
in the Czech Republic they were the third most trusted (between 57% of respondents in Latvia and
75% in Bulgaria considered the European institutions trustful sources of information).
Commercial banks appeared among the top three of the most trusted sources in the Czech Republic only
(77%, second most trusted). In all other countries but Romania (57%), less than half of respondents had
faith in information provided by banks (ranging from 29% in Poland to 49% in Hungary).
Preferred channels of information
The ranking of preferred channels remained the same between the last two rounds of the survey.
Television remained the most preferred source of information (90%); other popular channels for
information about the introduction of the euro were banks (80%), newspapers and magazines
(78%), the radio and the Internet (both 77%). Information provided in supermarkets and shops was
once again selected by the lowest proportion of respondents (48%).
Preferred channels for information campaigns, %
90
90
On television
80
80
In banks
78
78
In newspapers, magazines
On the radio
77
77
On the Internet
77
74
In schools and other places
of education and training
65
63
62
61
In public places
61
59
In your letter box
55
57
In the workplace
In supermarkets and shops
05/2011
%NMS7
09/2010
%NMS8
48
50
Q9. Where would you like to receive useful information on the euro and the changeover?
multiple answer
Television was the most preferred channel of information in each of the NMS7 countries, ranging
from 78% in Hungary to 95% in Poland. Banks were placed second in the Czech Republic (82%),
Bulgaria (75%) and Hungary (61%) and were in third place in Latvia (82%) and Lithuania (74%). In
Romania and Poland, banks did not rank among the first three preferred channels of information.
Most favoured topics of information campaigns
As for respondents’ views about the content of the euro information campaign, most respondents felt
that all of the suggested topics were important: the proportion of “essential” items ranged from 77%
for information on the appearance of euro banknotes and coins to 92% for the value of the national
currency in euros. These results were virtually unchanged since the previous survey round.
page 15
Flash EB No 329 – Introduction of the euro in the New Member States
Summary
Preferred topics for information campaigns (% ”essential”)
05/2011 %NMS7
09/2010 %NMS8
92
The value of one euro in [CURRENCY]
92
89
The way how the euro will be introduced in [COUNTRY]
90
87
How to ensure that the rules for currency conversion into
euro are respected
86
87
The practical implications of the euro regarding your
salary, your bank account
88
85
The social, economic or political implications of the euro
84
77
What notes and coins in euros look like
77
Q10. In your view, which of the following issues about the euro are essential to be
covered in priority by the information campaign?
In six of the NMS7 countries, the value of the euro in the local currency was listed as an essential
topic for an information campaign by the largest proportion of respondents (ranging from 89% in
Romania to 95% in Hungary). In the Czech Republic, on the other hand, the largest proportion of
respondents selected the changeover scenario, i.e. the way the euro would be introduced (94%), with
the value of the euro in the local currency ranking second (91%).
Main activities and events essential to be included in an information campaign
Respondents were also asked which campaign activities and tools – that had actually been used in
other countries prior to introduction of the euro – were essential if they were to be well prepared for
the changeover.
Across the NMS7 countries, for each of the activities listed in the survey, a majority of respondents
considered it was an indispensable information tool. The proportion of “essential” items ranged from
62% for leaflets and brochures to 87% for the dual display of prices in shops.
Preferred tools of the information campaigns (% ”essential”)
05/2011 %NMS7
09/2010 %NMS8
87
88
Dual display of prices in shops
78
82
Dual display of the amount on bills
74
76
Dual display on your pay slip
71
74
TV advertisements
68
71
Newspaper advertisements
Radio advertisements
Leaflets / Brochures
63
66
62
63
Q11. Here is a list of various information campaign actions. Could you tell me for each of
them whether you would find it essential or not essential to prepare yourself for the euro?
Across all NMS7 countries, the dual display of prices was seen as an essential tool that would
provide vital information about the introduction of the euro. In each country, the dual display of prices
in shops appeared in first place with proportions ranging from 82% in the Czech Republic to 95% in
Hungary. Furthermore, the dual display of prices on utility bills appeared in second place in six
page 16
Summary
Flash EB No 329 – Introduction of the euro in the New Member States
countries (ranging from 77% in the Czech Republic and Lithuania to 91% in Hungary), while the dual
display of prices on pay slips appeared in third place in five countries (ranging from 71% in the Czech
Republic and Lithuania to 87% in Hungary).
The euro: perceptions and support for its introduction
Consequences of the euro’s introduction – at a national and personal level
Equal shares of respondents in the NMS7 thought that the euro would either have positive or
negative consequences for their country (both 43%). The figures showed a constant decrease –
since May 2009 – in the proportion of respondents who believed that the euro’s introduction
would have a positive impact at a national level. In May 2009, 55% expected a positive outcome;
this proportion decreased to 49% in May 2010 and to 43% in May 2011 (-12 percentage points
compared to May 2009).
Respondents in the Czech Republic were the most likely to think that the introduction of the euro
would have negative consequences for their country (67%, compared to 26% “positive
consequences”). Other countries where respondents expecting negative consequences at a national
level outnumbered those expecting a positive outcome were Latvia (55% vs. 31%), Lithuania (51% vs.
37%) and Bulgaria (50% vs. 40%).
In Hungary and Poland, on the other hand, almost equal shares of respondents believed that the euro’s
introduction would have either a positive or negative impact in their country (all 41%-43%). Romania
was the only country where more than half of the interviewees expected positive consequences for their
country in the event that it joined the euro area (54%, compared to 30% “negative consequences”).
Compared to September 2010, the Czech Republic, Hungary and Bulgaria have seen a large increase
in the ratio of those who expected negative outcomes for their country following the changeover to
the euro.
Consequences of the euro’s introduction at a national level
Very positive
consequences
Rather positive …
05/2011 %NMS7
10
09/2010 %NMS8
12
05/2010 %NMS8
11
09/2009 %NMS8
14
05/2009 %NMS8
16
05/2008 %NMS9
13
09/2007 %NMS11
15
04/2007 %NMS11
8
04/2006 %NMS10
8
09/2004 %NMS10
33
4
6
Very negative
consequences
27
35
16
28
38
39
40
42
13
9
14
9
15
25
10
13
10
15
7
15
26
33
38
9
24
26
44
13
30
14
13
28
38
11
10
23
37
34
11
25
DK/NA
14
15
26
38
13
09/2006 %NMS10
09/2005 %NMS10
Rather negative …
11
16
15
Q13.(2007-2010)/Q12(2006). Do you think the introduction of the euro would have positive or
negative consequences for [COUNTRY]…?
page 17
Flash EB No 329 – Introduction of the euro in the New Member States
Summary
The proportion of NMS7 citizens expecting positive personal consequences from the introduction of
the euro in their country also continued to decrease: in May 2011, 40% of respondents thought there
would be positive outcomes at a personal level (compared to 43% in September 2010), while 45%
believed in negative consequences (unchanged compared to September 2010).
Similar to the results for attitudes about the introduction of the euro at a national level, only one
country – Romania – had an absolute majority of respondents who expected positive personal
consequences from the changeover (57%). In all other countries, however, there were more
respondents who expected negative personal consequences than positive ones. This gap was –
once again – most noticeable in the Czech Republic where 68% of respondents thought they would
personally suffer disadvantages after the euro’s introduction, compared to 26% who envisaged positive
outcomes for themselves.
A comparison across the two most recent rounds of the survey showed – once again – that the Czech
Republic, Hungary and Bulgaria were characterised by a significant increase in the proportion of
respondents who expected a negative personal impact from the changeover.
Consequences of the euro’s introduction at a personal level
Very positive
Rather positive
05/2011 %NMS7
11
09/2010 %NMS8
12
05/2010 %NMS8
13
09/2009 %NMS8
15
05/2009 %NMS8
15
05/2008 %NMS9
14
09/2007 %NMS11
16
04/2007 %NMS11
Rather negative
29
27
31
8
04/2006 %NMS10
7
09/2005 %NMS10
5
09/2004 %NMS10
6
30
33
12
26
13
14
26
12
14
25
33
24
35
26
28
39
34
10
29
33
31
15
15
34
36
DK/NA
18
35
13
09/2006 %NMS10
Very negative
26
34
32
10
10
11
16
14
17
15
12
17
10
17
15
13
16
16
Q14.(2007-2010)/Q13.(2006) And for you personally, do you think that it would be
positive or negative if the euro would be introduced?
Support for the single currency
While 34% of interviewees thought that their fellow citizens were very much or rather in favour
of the euro’s introduction, 45% of respondents believed that people they knew were against (very
much or rather) this idea.
Compared to previous rounds, the current results indicated some worsening in the climate of opinion
concerning the euro: in May 2009, 47% of interviewees thought that public opinion was in favour of
joining the euro area; this proportion decreased to 44% in May 2010 and to 34% in the present round
(-13 percentage points since May 2009).
page 18
Summary
Flash EB No 329 – Introduction of the euro in the New Member States
Climate of opinion regarding the euro’s introduction
Very much in favour
Rather in favour
Rather against
Very much against
DK/NA
05/2011 %NMS7
6
09/2010 %NMS8
7
05/2010 %NMS8
8
36
27
11
19
09/2009 %NMS8
10
34
28
9
20
28
33
05/2009 %NMS8
12
05/2008 %NMS9
9
09/2007 %NMS11
10
04/2007 %NMS11
8
09/2006 %NMS10
7
04/2006 %NMS10
8
09/2005 %NMS10
5
09/2004 %NMS10
6
31
14
32
35
8
29
35
9
26
36
26
35
35
18
19
21
9
21
11
30
9
13
30
18
9
31
32
33
11
27
34
28
21
17
19
23
10
20
Q15.(2007-2010)/Q14.(2006) Generally speaking, are most people you personally
know more in favour or against the idea of introducing the euro in [COUNTRY]?
The proportion of respondents who thought that the general climate of opinion surrounding the euro’s
introduction in their country was negative (i.e. they thought their fellow citizens were against the
changeover) ranged from 24% in Romania to 67% in the Czech Republic.
Compared to May 2010, individual country results showed a worsening climate of opinion concerning
the euro’s introduction in four of the NMS7 countries: the Czech Republic (from 53% to 67%; +14
percentage points), Bulgaria (from 40% to 49%; +9 points), Hungary (from 26% to 38%; +12 points)
and Romania (from 17% to 24%; +7 points).
Support for replacing the national currency by the euro
While 46% of respondents said they were unhappy that the euro could replace their national
currency, a smaller proportion (41%) said the opposite. Furthermore, looking at those who had
strong views, a higher ratio of interviewees declared themselves very unhappy (17%) with the
changeover than respondents who were very happy (8%). About one in seven (14%) respondents said
they “did not know” how to answer.
Changes in respondents’ support for the fact that the euro could replace their national currency were
similar to those observed in regard to the general climate of opinion surrounding the euro’s
introduction, with a negative trend observed in May 2011 compared to May 2010. While in May 2010,
48% of respondents were very or rather happy that the euro could replace their national currency, this
proportion decreased to 41% in the current round (-7 percentage points).
In accordance with the results about the general climate of opinion surrounding the euro’s
introduction, 51% of Romanians said they were very or rather happy that the euro could replace their
national currency, while significantly fewer (29%) said the opposite. Furthermore, consistent with past
rounds of the survey, respondents in the Czech Republic and Latvia were the most liable to say that
they were personally unhappy that the euro could replace their national currency (69% and 58%,
respectively).
page 19
Flash EB No 329 – Introduction of the euro in the New Member States
Summary
Are people happy that the euro will replace their national currency?
Very happy
05/2011 %NMS7
Rather happy
8
33
09/2010 %NMS8
10
05/2010 %NMS8
9
09/2009 %NMS8
11
05/2009 %NMS8
05/2008 %NMS9
Rather unhappy
Very unhappy
29
34
17
29
39
14
38
11
14
27
25
37
14
16
28
38
10
DK/NA
27
11
12
13
11
13
12
13
09/2007 %NMS11
12
04/2007 %NMS11
10
09/2006 %NMS10
9
38
30
13
10
04/2006 %NMS10
9
39
29
13
10
09/2005 %NMS10
09/2004 %NMS10
38
25
38
6
25
31
8
35
35
11
15
13
14
18
31
11
16
10
Q12.(2007-2010)/q15. (2006)Are you personally happy or not that the euro could replace the [CURRENCY]?
A comparison across the last two survey rounds in the Czech Republic and Hungary showed that, in the
current round, more respondents said they were unhappy that the euro could replace their national
currency. In the Czech Republic, this figure increased from 61% in September 2010 to 69% in May
2011 (+8 points); in Hungary, this increase was from 41% to 47% (+6 points).
The most desired timeframe for the adoption of the euro
A relative majority of NMS7 citizens would like to see the euro introduced as late as possible
(40%). Roughly one-third (34%) of interviewees wanted the changeover to happen after a certain
time, while approximately one-fifth (19%) opted for as soon as possible. The share of respondents
who “did not know” when they would like to have the euro introduced was 7%.
Desired timeframe for adopting the euro
As soon as possible
After a certain time
05/2011 %NMS7
19
09/2010 %NMS8
21
As late as possible
34
40
35
24
39
09/2009 %NMS8
25
36
28
05/2008 %NMS9
26
09/2007 %NMS11
26
04/2007 %NMS11
20
04/2006 %NMS10
21
09/2005 %NMS10
09/2004 %NMS10
17
19
33
29
36
32
39
28
39
31
40
39
32
5
6
6
6
7
7
36
5
34
5
46
36
6
32
37
24
09/2006 %NMS10
7
38
05/2010 %NMS8
05/2009 %NMS8
DK/NA
40
5
5
Q16. When would you like the euro to become your currency?
page 20
Summary
Flash EB No 329 – Introduction of the euro in the New Member States
In line with the findings of previous rounds, Romania was the only country where those opting for an
early introduction of the euro outnumbered those wanting this to happen as late as possible: 38%
would like the euro to be introduced as soon as possible and 22% as late as possible.
In all other NMS7 countries, respondents were more likely to want the euro to be introduced later
rather than sooner. The proportion of respondents who wanted the euro to be introduced as late as
possible was the highest in the Czech Republic (58%); in this country, just 7% of interviewees
thought that an early accession to the euro area was preferable.
The Czech Republic’s current results – once again – illustrate a significant deterioration in support for
the euro: in September 2010, 47% of Czech citizens desired a delayed timeframe for adopting the
euro; in the current round, however, 58% wanted this changeover as late as possible (+11 percentage
points). Hungary has seen a similar large increase in the proportion of respondents who wanted to
switch to the euro as late as possible: from 29% in September 2010 to 39% in May 2011 (+10 points).
Status of the euro as an international currency
Somewhat more than 7 in 10 (72%) respondents agreed that the euro had the status of an
international currency, similar to the US dollar or the Japanese yen; one in five respondents
disagreed with this proposition. Since the first round of the survey, there has been a solid and broad
consensus among respondents in the surveyed countries that the euro had the status of a major
international currency. Nonetheless, this belief seemed to have somewhat decreased since May 2009
(from 79% in May 2009 to 72% in the current round; -7 percentage points).
The proportion of respondents who thought that the euro had the status of a major international
currency ranged from 59% in Hungary to 82% in Lithuania. Conversely, the proportion
disagreeing with this idea ranged from 12% in Lithuania to 27% in Hungary.
Status of the euro as an international currency
6
20
8
17
8
20
9
11
8
15
9
15
75
71
71
74
75
72
80
78
77
05/2011
05/2011
7
22
09/2010
09/2010
11
18
05/2010
05/2010
RO
05/2011
82
59
09/2010
81
62
05/2010
81
71
27
05/2011
6
19
69
14
09/2010
6
12
71
10
29
05/2010
8
12
22
PL
LV
8
12
26
05/2011
74
25
09/2010
76
8
05/2010
05/2010
LT
73
5
05/2011
74
DK/NA
HU
4
09/2010
72
05/2010
74
8
19
05/2011
8
20
No
CZ
2
24
6
18
09/2010
8
19
05/2011
05/2010
75
BG
7
18
09/2010
NMS
7
18
Yes
Q19.(2007-2010)/Q18. (2006) Do you think that the euro is an international currency like the US dollar or the Japanese Yen?
page 21
Flash EB No 329 – Introduction of the euro in the New Member States
Summary
Consequences of adopting the euro
Somewhat more than 4 in 10 respondents in the NMS7 believed that the changeover to the euro
had had positive consequences in the countries that were already members of the euro area (11%
“very positive” and 32% “rather positive”), while a somewhat lower proportion thought that the
consequences had been negative (11% “very negative” and 28% “rather negative”). Roughly a fifth
(19%) of respondents could not or would not answer this question.
Compared to September 2010, the public has become more sceptical about the consequences of the
euro in the countries that were already using the euro: for example, the proportion thinking that the
introduction of the euro had had negative consequences in the euro area countries increased by four
percentage points (from 35% in September 2010 to 39% in May 2011).
Consequences of the introduction of the euro in those
countries already using the euro
Very positive
consequences
Rather positive …
Rather negative …
Very negative
consequences
DK/NA
05/2011 %NMS7
11
09/2010 %NMS8
12
05/2010 %NMS8
13
38
24
8
17
09/2009 %NMS8
14
38
24
6
18
05/2009 %NMS8
14
6
19
05/2008 %NMS9
13
38
23
6
20
09/2007 %NMS11
13
38
21
6
21
32
28
35
25
39
11
19
10
18
22
Q17. Do you think the introduction of the euro has had positive or negative
consequences in those countries that are using the euro already?
In Romania, Hungary and Latvia, respondents who thought the euro’s impact had been positive in the
euro area countries outnumbered those who believed that its impact had been negative. Respondents
in Romania were – once again – the most confident about the positive effects of the euro: 58%
thought that the changeover had had positive consequences in the euro area countries, compared to
22% who believed that the consequences had been negative.
As in the previous round of this survey, respondents in the Czech Republic were the most
pessimistic about the consequences of the euro in the countries that were already using the euro: more
than 6 in 10 Czech respondents thought that euro area countries had seen negative consequences after
the changeover (63%; +12 percentage points compared to September 2010), compared to less than 3 in
10 who held an optimistic view (28%; -9 points).
Political and economic consequences of introducing the euro
A majority (70%) of NMS7 citizens expected that the euro’s introduction would increase prices
in their country; roughly one in five (19%) thought that it would contribute to price stability. Few
respondents (4%) expected no impact and almost a tenth (8%) gave a “don’t know” response.
Romanians showed the least concern about price increases due to the euro’s introduction: less than
half (48%) expected that goods and services would be more expensive once the euro was introduced,
while more than a third (35%) thought that the euro would contribute to price stability and 4%
expected no impact.
In all of the other NMS7 countries, a majority of interviewees were concerned that prices would
increase in their country due to the changeover; this figure ranged from 67% in Hungary to 80% in
page 22
Summary
Flash EB No 329 – Introduction of the euro in the New Member States
Poland. In these countries, between 11% and 21% of respondents expected prices to remain stable and
a handful (3%-5%) thought there would be no impact.
A comparison across the two most recent rounds of the survey showed that four countries have seen an
increase in the proportion of interviewees who expected price increases due to euro’s introduction: the
Czech Republic (from 71% in September 2010 to 76% in May 2011; +5 percentage points), Hungary
(from 63% to 67%; +4 points), Latvia (from 67% to 71%; +4 points) and Lithuania (from 75% to 78%;
+3 points).
Expected consequences of the changeover to the euro on prices
**05/2008
***05/2009
6
6
4
7
5
9
4
21
LV
11
11
9
4
5
7
Will lower prices
9
9
8
7
5
16
4
7
24 26 22 18
77
69
71
Will contribute to price stability
Will increase prices
8
72
69
8
8
4
PL6
5
5
3
9
4
16
2
14
7
6
3
10
81 80 83 76 78
77
4
5
28
22
21
71
66 62
63
67
17
8
DK/NA
17
18
14
12
4
36
14
6
38
11
2
10
3
12
13
6
4
42 40 34 35
81 80
*04/2007
****05/2011
***09/2010
***05/2010
***09/2009
***05/2009
**05/2008
*04/2007
55 52 48
42 46 47 49 48
*09/2007
****05/2011
***05/2010
***09/2010
71
***05/2009
66 60 59 62 67
***09/2009
*09/2007
82 82
**05/2008
***05/2010
78
*04/2007
75
****05/2011
73
***09/2010
***05/2009
***09/2009
**05/2008
*04/2007
*09/2007
75 68 72
11
25
RO
14
14
87 86
7
DK/NA
7
3
11
3
8
No impact
No impact
2
14
2
8
****05/2011
***09/2010
Will increase prices
76
75
9
***05/2010
64
21
9
***09/2010
70
5
2
22
21
5
14
***05/2009
80 79
3
20
5
***09/2009
71
8
7
*09/2007
69 70
HU
12
7
**05/2008
71
5
*04/2007
66
3
7
***05/2010
70
4
4
15
***09/2010
79
*09/2007
83
*04/2007
24
7
****05/2011
CZ
4
8
5
17
****05/2011
4
5
14
7
7
8
***05/2010
3
4
18
7
10
5
****05/2011
****05/2011
***09/2010
***05/2010
4
4
19
6
5
17
***09/2010
8
2
20 19
7
4
19
***05/2009
LT
9
4
7
5
20
***09/2009
4
4
17
6
3
16
**05/2008
3
9
2
10
*09/2007
5
BG
11
4
19
**% NMS9, ***% NMS8, **** %NMS7:
* NMS11:
7
2
6
5
19
***05/2010
65 68 66 69 70
9
9
3
***05/2009
71
7
9
2
***09/2009
74
***09/2009
75
23
4
19
*09/2007
8
***05/2009
8
4
19
**05/2008
7
4
23
5
*04/2007
8
2
22
*09/2007
8
**05/2008
7
4
19
*04/2007
9
11
6
***09/2009
NMS
9
8
8
Q18. (2008-2009) Do you think the euro will increase prices in [COUNTRY] when it is first introduced or, on the contrary, it will contribute to price stability?
Q18. (2007) Do you think the euro will increase prices in [COUNTRY] when it is first introduced or, on the contrary, it will lower prices?
% by country
Favourable political and economic consequences of the euro
Citizens in the NMS7 most frequently agreed that Europe’s place in the world would be
reinforced when the euro was introduced in their country: 57% expected this outcome and 30%
disagreed with this proposition. More than a tenth (13%) of respondents gave a “don’t know”
response.
Lower shares of respondents believed that adopting the euro would ensure sounder public finances
(41%), low inflation rates (39%), lower interest rates and debt charges (38%), and would stimulate
growth and employment (38%). As in the previous round of the survey, the proportion of respondents
who expressed disagreement was highest for the latter statement: 47% of respondents doubted
whether the euro would improve growth and employment in their country. A high proportion of
respondents could not – or would not – comment on these four statements (ranging from 16% to 23%).
While in September 2010, 34% of respondents did not think that the changeover to the euro would
ensure sounder public finances, in May 2011 this proportion has increased to 39% (+5 percentage
points).
page 23
Flash EB No 329 – Introduction of the euro in the New Member States
Summary
Potential political and economic advantages of adopting the euro
20
24
22
25
23
20
16
34
39
39
39
36
39
45
47
43
41
38
39
40
38
35
38
05/2011
%NMS7
09/2010
%NMS8
05/2011
%NMS7
57
05/2011
%NMS7
09/2010
%NMS8
58
23
09/2010
%NMS8
30
Will improve
growth,
employment
05/2011
%NMS7
26
Will ensure
lower interest
rates, lower debt
charges
DK/NA
09/2010
%NMS8
13
Will ensure
low inflation
rates
No
05/2011
%NMS7
16
Will ensure
sounder public
finances
09/2010
%NMS8
Will reinforce the
place of Europe
in the world
Yes
Q21a-e. In your opinion, what are the main advantages of the adoption of the euro for [COUNTRY]?
Across six out of seven countries, a majority of respondents agreed that Europe would have a
stronger global position following a further enlargement of the euro area (ranging from 50% in
Latvia to 62% in Bulgaria). Respondents in the Czech Republic, on the other hand, were more likely
to disagree with the statement (50% “disagreed” and 43% “agreed”).
As was seen in the previous round, respondents in Hungary were the most likely to agree with
most of the statements that suggested a positive impact on the national economy, while those in the
Czech Republic were the most likely to disagree with each of the statements.
Looking at the results in comparison with the previous round of the survey, it was noted that respondents
in the Czech Republic have – once again – become more sceptical about the potential political and
economic consequences of adopting the euro. The most significant positive development was registered
in Latvia, where the proportion of respondents who agreed that the euro would lead to low inflation rates
increased by nine percentage points (from 24% in September 2010 to 33% in May 2011).
The euro as an ingredient in European identity
About one in two (49%) respondents in the NMS7 countries thought that using the euro would
make people feel more European; this the lowest level of agreement measured since April 2006. A
share of 44% of respondents disagreed with the statement and 8% did not answer this question.
In Hungary, just 30% of respondents agreed, while 65% disagreed that using the euro would
make people feel more European. In the remaining countries, however, between 45% and 52% of
respondents agreed with this proposition.
Compared to September 2010, the largest changes in the levels of (dis-)agreement were registered in
the Czech Republic: while the proportion of Czech respondents who agreed that the euro would foster
a more European identity has declined by eight percentage points (from 59% in September 2010 to
51% in the current round), the proportion disagreeing with the statement has increased by six
percentage points (from 38% to 44%). In Latvia and Lithuania, on the other hand, slightly more
respondents expressed their agreement than in September 2010.
page 24
Summary
Flash EB No 329 – Introduction of the euro in the New Member States
Using the euro will make people feel more European
Agree
05/2011 %NMS7
49
09/2010 %NMS8
51
05/2010 %NMS8
50
09/2009 %NMS8
Disagree
DK/NA
44
8
42
42
55
7
8
38
7
05/2009 %NMS8
53
38
9
05/2008 %NMS9
53
40
8
35
9
09/2007 %NMS11
55
04/2007 %NMS11
54
37
09/2006 %NMS10
56
36
04/2006 %NMS10
55
39
09/2005 %NMS10
09/2004 %NMS10
43
47
48
45
10
8
6
9
8
Q22e.(2007-2010)/Q21e. (2006) Could you tell me for each of the following statements if you agree or disagree…?
”The usage of the euro instead of the NATIONAL CURRENCY will make us feel more European than now”
Practical consequences of the euro changeover
Respondents were asked to evaluate some of the practical consequences of belonging to the euro area.
As was seen in previous rounds, an overwhelming majority of NMS7 citizens agreed with
statements suggesting that travelling and shopping in countries that use the euro would become
easier:




91% agreed that joining the common currency would be more convenient for those who travel
in other countries that use the euro
85% agreed that the euro would make it easier to shop in other countries using the common
currency
79% confirmed that joining the euro area would allow them to easily compare prices with
those in other countries that use the euro (-3 points since September 2010)
75% thought that the euro’s introduction would eliminate any charges relating to currency
exchange when, for example, visiting other countries that use the euro.
As observed in earlier rounds of this trend survey, respondents were rather pessimistic about the
power of the euro to protect their country against the effect of international crises – about a third of
respondents agreed with this statement (34%, -3 percentage points compared to September 2010),
while almost half of respondents disagreed (46%, +4 points).
Respondents in the Czech Republic were not only the most likely to disagree with the statements
that suggested a positive impact on their country’s economy, they were also the most likely to
disagree with most of the statements about the euro’s practical consequences. For example, the
proportion of interviewees who disagreed with the suggestion that having the euro would be more
convenient for those who travel in other countries that use the euro ranged from just 3% in Bulgaria,
Hungary and Poland to 11% in the Czech Republic.
Respondents in Hungary and Poland were the most likely to agree that joining the euro area would
make it easier to travel (94%-95%) and to shop (87%-88%) in other euro area countries and that it
would eliminate any charges relating to currency exchange when, for example, visiting other euro
area countries (both 80%). Respondents in Hungary were also more likely than their counterparts in
page 25
Flash EB No 329 – Introduction of the euro in the New Member States
Summary
other NMS7 countries to agree that the euro could made it easier to compare prices with those in other
euro area countries (85%).
It was the Bulgarians, however, who were the most likely to think that the euro would protect their
country against the effect of international crises (46% agreed, compared to 35% who disagreed). A
comparison across the last two survey rounds showed that the Czech Republic, Lithuania, Hungary and
Poland have seen an increase in the proportion of respondents who disagreed that joining the euro
would protect their country from the effects of international crises.
Expected positive effects of joining the euro area
NMS
90 91
BG
CZ
5 5
85 85
93 93
3 3
88 87
10 11
LV
92 91
LT
HU
Will protect a country
from the effects of
international crises
05/2011
9/2010
No
05/2011
Yes
9/2010
9/2010
No
05/2011
9/2010
Yes
05/2011
9/2010
05/2011
9/2010
No
Will eliminate currency
exchange charges
when, for example,
visiting other countries
that use the euro
05/2011
Will make it easier to
compare prices with
those in other countries
that use the euro
Yes
05/2011
No
05/2011
9/2010
9/2010
Yes
05/2011
No
05/2011
09/2010
Yes
Will make it easier to
shop in other countries
that use the euro
9/2010
Will be more
convenient for those
who travel in other
countries that use the
euro
9 10
82 79
12 14
76 75
13 14
37 34
42 46
86 85
8 9
79 77
13 16
75 74
10 14
45 46
32 35
85 82
14 17
82 78
16 19
80 76
18 22
37 28
56 62
5 6
86 82
9 11
82 75
11 17
79 77
13 13
23 22
58 59
92 92
5 4
80 82
13 11
76 77
14 13
60 54
30 32
31 30
50 54
96 95
2 3
93 87
4 9
89 85
6 10
83 80
11 14
42 35
42 47
PL
92 94
4 3
85 88
10 8
81 79
12 13
79 80
10 10
34 32
41 47
RO
85 88
8 6
83 81
80 75
13 14
69 67
16 15
39 39
39 37
9 10
Q20a-e . Do you think that the euro ...?
Potential inconveniences of the introduction of the euro
Respondents were also asked to evaluate some potentially negative impacts due to the euro’s
introduction. As in previous rounds, the only potential inconvenience (among the statements
presented) that a majority of respondents in the NMS7 countries shared were possible abuses and
cases of cheating on prices during the changeover (74%). Most respondents did not express concerns
about personal inconveniences that could be caused by the changeover (55%), a negative effect on
their country’s identity (53%) or a loss of their country’s control over economic policy (52%).
Fears regarding the adoption of the euro
74
6
7
10
10
14
14
52
55
52
53
51
52
38
38
37
35
34
05/2011
%NMS7
22
74
09/2010
%NMS8
05/2011
%NMS7
41
09/2010
%NMS8
DK/NA
Adopting the euro will
mean that [COUNTRY]
will lose control over its
economic policy
09/2010
%NMS8
22
Disagree
05/2011
%NMS7
4
Agree
Adopting the euro will
mean that [COUNTRY]
will lose a great deal of
its identity
09/2010
%NMS8
4
The replacement of the
[CURRENCY] by the euro will
cause you personally a lot of
inconvenience
05/2011
%NMS7
You are afraid of abuses
and cheating on prices
during the changeover
Q22a-d. Could you tell me for each of the following statements if you agree or disagree…?
page 26
Summary
Flash EB No 329 – Introduction of the euro in the New Member States
Since the question was first asked in 2006/2007, across all NMS7 countries, respondents who were
concerned about abuses and cheating on prices during the changeover to the euro have
outnumbered those who did not share this concern. In the latest survey round, the proportion of
respondents who expressed concerns in this regard ranged from 63% in Romania to 81% in Poland.
Conversely, the proportion who did not share this concern ranged from 15% in Poland to 33% in
Romania. The most important change between the two most recent rounds of the survey was observed
in Lithuania, where the share of respondents who were worried about possible abuses and cases of
cheating on prices during the changeover to the euro dropped by five percentage points from 77% in
September 2010 to 72% in May 2011.
In Romania, 30% of respondents expected personal inconveniences due to the introduction of the
euro, while more than twice as many (64%) did not expect such difficulties. Respondents who did
not think that the changeover to the euro would cause them a lot of personal inconvenience also
outnumbered those who did by 22 percentage points in Poland (58% vs. 36%), 16 percentage points in
Latvia (54% vs. 38%), nine percentage points in Lithuania (51% vs. 40%) and six percentage points in
Bulgaria (50% vs. 44%) and Hungary (48% vs. 42%). In the Czech Republic, on the other hand, a slim
majority (54%) of respondents expected personal inconveniences due to the euro’s introduction; just
38% of Czech respondents did not expect such difficulties. The most noteworthy changes in the level
of (dis-)agreement – compared to September 2010 – took place in Poland. In the previous round, 53%
of Polish respondents did not expect personal inconveniences due to the euro’s introduction, this figure
increased to 58% in the current round (+5 percentage points).
A majority of respondents in Hungary (61%), Romania (59%), Poland (55%) and Bulgaria
(51%) did not believe that using the euro would cause a loss of national identity. In the remaining
countries, a majority of respondents agreed that the introduction of the euro would lead to a weakening
of national identity; this was the case in Latvia (68% vs. 26% who disagreed), Lithuania (58% vs.
32%) and the Czech Republic (54% vs. 41%). In the Czech Republic, contrary to the generally
negative development of public opinion vis-à-vis the euro compared to September 2010, a decrease
was seen in the proportion of respondents who agreed that adopting the euro would cause a loss of
national identity (from 62% in September 2010 to 54% in May 2011, -8 percentage points).
The proportion of respondents who disagreed with the statement that their country would lose
control over its economic policy following the adoption of the euro ranged from 33% in Latvia to
61% in Hungary. In Hungary, Romania, Poland, Bulgaria and Lithuania, interviewees who disagreed
outnumbered those who agreed. Latvia continued to stand out from other NMS7 countries with 55%
of respondents who agreed, compared to 33% who disagreed, that their country would lose control
over its economic policy if it introduced the euro. Finally, in the Czech Republic, similar shares of
respondents either agreed (46%) or disagreed (47%) with this proposition.
page 27