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Thursday, 28 February, 2002, 00:38 GMT

Germans lament Deutschmark

Two months after the introduction of euro notes and coins, almost half of Germans say they regret the loss of the deutschmark.

According to the poll by the German Society for Consumer Research, almost 48% of Germans would like to turn back the clock and keep the mark.

Roughly the same number say they are satisfied with the euro.

This balance is little changed from polls taken before the euro cash launch.

Of the just over 1,000 people polled, women were more negative than men.

The findings suggest the euro cash launch has not softened Germany's long-standing scepticism towards the single currency, and will disappoint many of Germany's political and business leaders.

'Untested successor'

They had hoped familiarity with the notes and coins would build confidence in the euro. So far that has not happened.

Many Germans still regard the euro as an untested successor to the mark, which they associate with economic strength and stability.

What is more, despite the technically smooth changeover, Germans blame the euro for price rises in shops and restaurants.

Economists' assurances that the inflationary impact has been marginal have not impressed.

The German Retailers' Association has reported a sharp fall in sales since the new year, as worried shoppers have stayed away.

The survey is published the day before the mark and other national currencies are withdrawn from circulation, with the euro becoming the sole legal tender in the 12-nation eurozone.


Related to this story:
Tschuss Deutschmark! (26 Feb 02 | Europe) Germans 'unhappy over euro' (16 Jul 01 | Business) Death of the Deutschmark (31 Oct 01 | Europe)


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