A quarter of a century after its creation, the single currency has never been so popular. Across the twenty countries that make up the euro zone, 83% of citizens support it, while 14% are against, according to the Eurobarometer survey carried out every six months by the European Commission. In 2002, when the euro was physically introduced, support hovered around 65%, while 25% were against. This largely favorable opinion, which weakened during the eurozone crisis, has been growing continuously since 2016.
A blog post from the European Central Bank (ECB), published Monday November 10, looks at this development. It shows that almost all countries have experienced this progression favorable to the euro. Particularly spectacular jumps (more than 20 points of increase) are recorded in Spain, Portugal and Cyprus. Their populations, which were strongly affected by the crisis of the 2010s, seem to have decided that membership of the single currency was ultimately a source of structural strength.
“Studies indicate that attitudes towards the euro increasingly seem to reflect its practical benefits rather than its symbolic meaning”note the authors. They cite the eurozone crisis, the Covid-19 pandemic and the war in Ukraine as three moments when the strength of the single currency became clear to citizens.
You have 55.79% of this article left to read. The rest is reserved for subscribers.
