Crisis and Public Support for the Euro, 1990–2014

17 Pages Posted: 6 Jun 2016

See all articles by Felix Roth

Felix Roth

University of Goettingen (Gottingen)

Lars Jonung

Lund University - Dept. of Economics

Felicitas Nowak-Lehmann

University of Goettingen (Gottingen) - Department of Economics

Date Written: July 2016

Abstract

This article analyses the evolution of public support for the single European currency, the euro, from 1990 to 2014 for a 12‐country sample of the euro area (EA‐12), focusing on the most recent period of the financial and sovereign debt crisis, starting in 2008. We find that citizens' support for the euro on average was marginally reduced during the first six years of the crisis, and that support has remained at high levels. While the pronounced increase in unemployment in the EA‐12 throughout the crisis has led to a marked decline in trust in the European Central Bank (ECB), it is only weakly related to support for the euro.

Keywords: support for the Euro, euro area crisis, unemployment, Economic and Monetary Union (EMU), trust in the ECB, panel time series estimation

Suggested Citation

Roth, Felix and Jonung, Lars and Nowak-Lehmann, Felicitas, Crisis and Public Support for the Euro, 1990–2014 (July 2016). JCMS: Journal of Common Market Studies, Vol. 54, Issue 4, pp. 944-960, 2016. Available at SSRN: https://ssrn.com/abstract=2789910 or http://dx.doi.org/10.1111/jcms.12338

Felix Roth (Contact Author)

University of Goettingen (Gottingen) ( email )

Wilhelmsplatz 1
Göttingen, 37073
Germany

Lars Jonung

Lund University - Dept. of Economics ( email )

Box 7080
Lund, 22007
Sweden

Felicitas Nowak-Lehmann

University of Goettingen (Gottingen) - Department of Economics ( email )

Platz der Goettinger Sieben 3
Goettingen, 37073
Germany

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