Working Papers, Department of Economics, Lund University
Public Support for the Single European Currency, the Euro, 1990 to 2011. Does the Financial Crisis Matter?
(), Lars Jonung
() and Felicitas Nowak-Lehmann D.
Abstract: This paper analyses the evolution of public support for
the single European currency, the euro, from 1990 to 2011, focusing on the
most recent period of financial and sovereign debt crisis. Exploring a huge
database of more than half a million observations covering the 12 original
euro area member countries, we find that the ongoing crisis has only
marginally reduced citizens’ support for the euro. This result is in stark
contrast to a sharp fall in public trust in the European Central Bank. We
conclude that the crisis – at least so far - has hardly dented popular
support for the euro while the central bank supplying the single currency
has lost sharply in public trust. Thus, the euro appears to have
established a credibility of its own – separate from the institutional
framework behind the euro.
Keywords: Support for the euro; European Monetary Union; euro area crisis; (follow links to similar papers)
JEL-Codes: C23; E31; E42; E65; (follow links to similar papers)
23 pages, July 18, 2012
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- This paper is published as:
Roth, Felix, Lars Jonung and Felicitas Nowak-Lehmann D., (2016), 'Crisis and Public Support for the Euro, 1990-2014', Journal of Common Market Studies, Vol. 54, July, No. 4, pages 944-960
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