Survey Shows Knowledge Of Euro Coins And Banknotes Is Weak

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18th June 2014 16:18 - Business Support

According to recent figures, just over half (51%) of people living in EU member states outside of the euro area (the “NMS7”) are aware that euro banknotes are exactly the same in all countries that use it.

The research, which was done by Eurobarometer, quizzed participants from Bulgaria, Croatia, Czech Republic, Hungary, Lithuania, Poland and Romania, to identify participants’ perception of the euro.

Of those asked, just over half (51%) correctly answered that euro banknotes look exactly the same across all countries using the currency – 3% less than the 2013 figure. Just over one third (32%) incorrectly thought notes partly varied from country to country, and less than one fifth (17%) were unsure.

Romania had the highest number of correct responses (69%), followed by Croatia (68%) and Czech Republic (51%), with Poland trailing at the bottom with 40%.

Overall, women (54%) were more likely to know the right answer than men (47%), with younger generations seen to be more knowledgeable too:

  • 60% of 15-24 year olds answered correctly
  • 54% of 25-39 year olds answered correctly
  • 51% of 40-54 year olds answered correctly
  • 44% of 55+ year olds answered correctly

Over half (55%) of employed respondents were aware that banknotes remained the same compared to 45% of self-employed participants. Manual workers (48%) and the unemployed (51%) sat in between the two.

Those who had used euro banknotes were 7% more likely to know they looked the same country-wide than those who had not used them before – 53%:46%.

When it came to euro coins overall knowledge dropped quite significantly, with just 35% of all respondents aware that they have partly different designs from country to country – this figure has remained the same since 2012.

Just under one half (46%) thought that coins looked the same and around one fifth (19%) didn’t know.

Lithuania returned the highest number of correct answers (58%), with the remaining six countries scoring less than 50%:

  • Czech Republic 44%
  • Hungary 43%
  • Poland 40%
  • Bulgaria 33%
  • Croatia 25%
  • Romania 19%

This time men (44%) were more likely than women (27%) to give the right answer, and 25-39 year olds came out as most educated with over two fifths answering correctly (41%), compared to 55+ year olds (30%) who were least knowledgeable.

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