Crisis and Public Support for the Euro, 1990–2014*. (8th December 2015)

• Record Type: Journal Article
• Authors: Roth, Felix; Jonung, Lars; Nowak‐Lehmann D., Felicitas
• Is Part Of: Journal of common market studies. Volume 54:Number 4(2016)
• Page Start: 944
• Page End: 960
• Publication Date: 2015-12-08
• Subjects: support for the Euro -- euro area crisis -- unemployment -- Economic and Monetary Union (EMU) -- trust in the ECB -- panel time series estimation; European Economic Community countries -- Periodicals; European Union countries -- Periodicals; Periodicals; 382.9142
• DOI: 10.1111/jcms.12338
• Languages: English
• ISSNs: 0021-9886

Abstract

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.