THE Irish are the EU's strongest supporters of the euro, with three out of four people saying its introduction has been "advantageous overall", even though almost as many believe it has fuelled price increases.
On the eve of the currency's fifth birthday tomorrow, Ireland's euro enthusiasm is at odds with the growing scepticism among the 11 other eurozone countries who adopted the currency on 1 January 2002.
According to a new EU survey on attitudes to the currency, support for the euro has dropped consistently over the years and now averages at 48%, or less than one in two citizens, down from a high of 59% when it was first introduced.
Greece, the Netherlands, Italy and Portugal are most sceptical about the new currency.
Ireland and Austria are the only two countries, according to the euro-barometer poll, where support for the euro has grown, with all other countries losing faith.
The Irish believe that the euro has made travel cheaper and made price comparisons easier. Yet over 70% of Irish people also believe the euro has added to price increases.
However, again this is far fewer than the eurozone average where 93% believe the euro had increased prices.
Slovenia will tomorrow become the 13th country to scrap its national currency and switch to the euro. But even before the new notes and coins have replaced the tolar, there are fears that the changeover will fuel unwarranted price rises in the former Yugoslav republic . . . known as the 'Switzerland of the Balkans'.
Meanwhile, the Irish head the Eurobarometer poll again when it comes to ease of use regarding the euro, with 81% claiming they have 'no difficulty at all'. By comparison, just 45% of Italians felt the same. We are tops at thinking in euro. Almost 90% of the Irish 'count mentally' in euros when making a purchase, over three times the eurozone average of 29%.
And while the Irish are most attracted to the new currency, it seems we can't hold on to it. When asked whether 'you buy less for fear that you are spending too much' or 'buy more as you have difficulty realising how much you are spending', 44% of Irish . . . more than any other eurozone country . . . admitted they buy more; 27% said they buy less, and 28% said neither one or the other. This compares to 25% of eurozone citizens who said they spend more, 33% who spend less and 41% who do neither.
The Irish also go against the grain when 52% say there are 'too many' small coins in circulation, with the one and two cent coins high on our hit list.
However, the majority of eurozone citizens fear that dropping these would raise prices.
|