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Sunday, December 13, 1998 Published at 08:08 GMT
Euro cash confusion ![]() Curious: Guesses at the euro's name included Curo Most people in the UK say they do not know the name of the European single currency.
Guesses at the euro's name including Equarder, Ecru, Etu, Eu and Curo. Estimates of its value against the pound ranged from one penny to £8, with just 10% of those questioned knowing it would be worth about 70p.
The system is being introduced for 11 EU countries, excluding the UK, on 1 January. The Labour Government has declared its support in principle for the single currency. But it has said that it will not join until there has been a suitable period to assess the effectiveness of EMU. Three out of five Britons do not want to adopt the euro, according to another report earlier this month. A survey of 1,300 voters showed that just 17% backed a switch from the pound. Research group Social and Community Planning Research said there had been a slide in public support for the European Union in recent years, partly because of opposition to a single currency.
Elsewhere in Europe, on the other hand, other hardened eurosceptics are slowly coming around to the idea of monetary union. Sweden - which is outside the EMU and suffered in the aftermath of the Asian and Russian economic crises - has seen support for the euro grow by 10% since April. Now 36% of Swedes think the euro is a good idea, compared to 26% seven months ago.
In Germany too, support for the euro is creeping up. While in the autumn of 1997 only 40% of Germans backed the single currency, by May this year the figure had reached 51%. German opposition over the same period dropped from 45% to 36%. Europe-wide, women are less likely to support a single currency than men. And support for the scheme diminishes with age - younger people anywhere in Europe are more likely to be in favour of monetary union. |
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