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Citizens sceptical of euro benefits

Published 29 January 2007 - Updated 30 January 2007
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A poll carried out by the Financial Times shows that more than two-thirds of French, Italians, Spanish and half of Germans believe that the single currency has had a ‘negative impact’.

The survey of 5,314 adults in Italy, Germany, France, Spain and the UK shows that more than half of the people in countries using the euro would prefer a return to their former national currency.

The results will be of particular concern to the European Central Bank (ECB), according to the FT. The bank believes that its public credibility and that of the euro is crucial to gaining public confidence, seen as important for tackling inflation and in turn, for increasing economic growth. 

Recent criticism that the ECB has hurt economic growth by France's leading presidential candidates, Segolene Royal and Nicolas Sarkozy, will have heightened fears.

However, the result comes at a time of strong growth for the eurozone, on the back of improved German economic performance.  Indeed, a majority of Germans, Italians and Spanish see a positive impact on the EU economy as a whole, indicating that although they may not believe they are benefiting from the single currency, they think other countries are. The French were the exception, seeing more negatives than positives for the eurozone.

Finally, a majority of those polled supported the view that migration had lowered wages and less than a quarter held a positive opinion on Bulgaria and Romania's accession this year.

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