Study Shows Euro Awareness Levels Are Low

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17th June 2014 16:32 - Business Support

A study conducted by Eurobarometer has shown that just 30% of respondents, from EU Member states outside of the euro area (the “NMS7”), are aware that 18 countries currently use the currency.

The study was carried out to identify and track perceptions of people in the NMS7 – Bulgaria, Croatia, Czech Republic, Hungary, Lithuania, Poland and Romania – with regards to the future introduction of the euro.

The number of people who were able to correctly answer the current number of euro area countries was highest in Croatia (39%) and lowest in Romania (25%), with the rest sitting somewhere in between:

  • Czech Republic 34%
  • Lithuania 33%
  • Hungary 36%
  • Poland 28%
  • Bulgaria 29%

A breakdown of the results also shows that men (37%) are more likely to answer correctly than women (23%), with respondents who left education aged 20+ (31%) likely to have more knowledge on the subject than those that left aged 15 or below (20%).

Over three quarters (78%) of respondents expect their country to join the euro at some point in the future, with two fifths (40%) anticipating this will happen in or before 2019. Four fifths of Lithuanian’s believe they will join the euro in 2015.

Notably, over seven out of 10 (72%) participants wrongly think their country has a choice when it comes to adopting the euro – the highest number of incorrect responses in the survey’s history.

Lithuania boasted the highest number of correct answers (30%), on the other hand, less than one fifth (19%) of Polish respondents knew their country did not have a choice to ‘opt in’ for the euro. The remaining countries ranged between 20-30%:

  • Hungary 30%
  • Bulgaria 29%
  • Czech Republic 22%
  • Romania 25%
  • Croatia 30%

Again, men (25%) were more likely than women (22%) to answer correctly, with 15-24 year olds showing the least amount of knowledge in this area (19%) compared to older age groups (24-25%).

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