Posted on 12/28/2006 7:37:06 AM PST by ricks_place
A majority of French people believe the switch to the euro five years ago was bad for their country, according to a recent poll, which suggests the French blame the common European currency for damaging economic growth and causing price hikes.
The TNS-Sofres survey published on Wednesday (27 December) by Le Pelerin magazine showed 52 percent of respondents said giving up the franc for the euro has been "quite bad" or "very bad" for France, up from 45 percent three years ago in a similar survey.
Fifty-one percent of the 1000 participants in the telephone poll said the single currency has been mainly harmful for economic prospects while 94 percent were convinced the euro has fuelled inflation.
These views come hand in hand with recent criticism expressed by French political leaders.
The presidential front-runners for next April's elections, Nicolas Sarkozy and Segolene Royal, have both criticised the European Central Bank for harming economic growth with a series of interest rates increases.
Opinion trends similar across eurozone
Meanwhile, some opinions held by the French resemble those of their counterparts in other eurozone countries, five years after the euro coins and notes were introduced.
While a quarter of all French still think in francs "the whole time" when shopping - the TNT-Sofres poll showed - national currencies are used for calculations in major purchases most often by the Belgians (65%), by the Dutch (57%) and by Austrians (55%), according to a Eurobarometer poll published ahead of the 5th anniversary.
In Portugal, Germany and Italy about half or less use the euro as a mental benchmark for small shopping such as in grocery stores - on the other hand, 91 percent of the Irish use the euro only for such calculations.
The special Eurobarometer poll also suggested that the single currency is still influencing consumer habits across the eurozone with a third of citizens saying they buy less because of a fear of spending too much - but this number has dropped by 6 percent since 2005.
Altogether, the special survey found the lowest rate of approval for the euro since its introduction.
"While in 2002, 59% of the respondents in the eurozone thought that the new currency was overall advantageous for their country, currently only less than half of respondents hold such a favourable opinion," it concluded.
The euro is currently used in 12 EU countries and Slovenia will become the 13th eurozone member on 1 January.
Nah, blame the Euro.
Perhaps this attitude toward the Euro is a symptom of a revival of nationalism - patriotism for one's country rather than the socialist conglomeration of the EU.
That would be good.
A majority of French people believe the switch to the euro five years ago was bad for their country, according to a recent poll,...up from 45 percent three years ago in a similar survey.....currently only less than half of respondents hold such a favourable opinion,"
Sounds like to me another mish-mash of meaningless stats from DIFFERENT studies.
The new study group wiggled their numbers until they managed >50% against the Euro and sent a press release out comparing their study to something else.
I -know- the British are laughing up their sleeves at the Continent's "Yo-Yo/aka Euro" up and down currency, and are smug (rightly) about their decision to keep the Pound...but I'm not sure you'd find a single Frenchman admit that "the British were right"....certainly not 51%!
Meanwhile, I think the abuse done to statistics in this article are criminal!
Supposedly the wealthy and educated have left and more are leaving France. Their country will soon be dominated by Muslims bent on France's destruction. No problems there.
US products become less expensive as the Euro becomes the reserve Currency. Euro denominated imports become more expensive. Is this bad for the US?
-
Should we continue this process, until our prevailing wages reach those of China?
Once they do, will we even remember how to build anything anymore?
Yes, because the current U.S. economy is built on the twin multi-hundred-billion dollar deficits that in turn must be supported by the dollar's status as a reserve currency.
Could you please elaborate? I am not questioning your opinion just trying to understand. It's been a while since I have been in an economic class..
Thanks
Francastan
It's fairly basic. In order to service the national debt (the budget & trade deficits) we require that foreign nations (right now mainly China & Japan) purchase American securities. In short, China cycles our trade deficit into U.S. Treasury bonds that they then hold in large part as their currency reserves.
But if dollars are being dumped shouldn’t that make US goods cheaper relative to other currencies? Also If the US uses most of the world’s oil and we pay for that oil in dollars that means a lot of dollars will be floating around and they eventually will have to find a home and somewhere and the market will reach an equilibrium point based on supply and demand..
If china decides they do not want to buy our debt anymore then our interest rates will rise and won't that will eventually strengthen the dollar?
If china wants a market for its goods will they have as much faith in the Euro as the dollar and buy European debt? What about all the money they will lose from depreciating US bonds?
It's bad for US inflation, probably good otherwise.
France in 'vigilance' plea on falling dollar
The Financial Times | 27 Nov 2006 | Martin Arnold, George Parker, Ralph Atkins
Posted on 11/28/2006 11:20:27 PM EST by FLOutdoorsman
http://www.freerepublic.com/focus/f-news/1745561/posts
French mutiny brewing against the euro
The Daily Telegraph | December 13, 2006 | Ambrose Evans-Pritchard
Posted on 12/12/2006 7:23:49 PM EST by MadIvan
http://www.freerepublic.com/focus/f-news/1752528/posts
French mutiny brewing against the euro
The Telegraph | 12/13/06 | Ambrose Evans-Pritchard
Posted on 12/13/2006 8:44:43 PM EST by bruinbirdman
http://www.freerepublic.com/focus/f-news/1753150/posts
Poll Shows French Turning Against Euro
Business Week | Dec 30, 2006 | Lucia Kubosova
Posted on 12/30/2006 1:50:48 AM EST by jdm
http://www.freerepublic.com/focus/f-news/1760195/posts
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