Adopting the Euro in Post-Communist Countries: An Analysis of the Attitudes towards the Single Currency
MPIfG Discussion Paper No. 08/01
28 Pages Posted: 17 Jan 2008 Last revised: 16 Jul 2011
Date Written: October 1, 2008
The new EU member states in Central and Eastern Europe underwent an economic and political tour de force on their way to EU accession. Their next challenge is the entry to the Euro-zone. Thus, the dynamics of public opinion towards the Euro become crucial for political leaders. We test three perspectives - economic, political and historical-ideational - with individual-level survey data from eight countries and conclude that the combined model explains best variations in support for the Euro. In an environment of volatility in post-communist Europe, macro-variables of economic and historical-ideational factors have the strongest impact on individual attitudes while micro-variables of economic self-interest do not further our understanding of Euro support. Thus, distributional issues matter less than the aggregate national performance and experience. Political parties that garner support for the Euro should therefore concentrate on economic consolidation and political stability rather than politicising a winner-loser cleavage.
Keywords: Euro, currency, public opinion, European integration, Eastern Europe
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