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euro
(11/30/07) -

Many Danes Willing to Switch to Euro

(Angus Reid Global Monitor) – Most people in Denmark want their country to adopt the common European Union (EU) currency, according to a poll by Vilstrup Synovate published in Politiken. 52 per cent of respondents would lift the current exemption preventing Denmark from using the euro.

(Angus Reid Global Monitor) – Most people in Denmark want their country to adopt the common European Union (EU) currency, according to a poll by Vilstrup Synovate published in Politiken. 52 per cent of respondents would lift the current exemption preventing Denmark from using the euro.

The euro has been used in 12 of 15 EU countries since January 2002. At the time, Sweden, Denmark and Britain were the only EU members that did not adopt the currency. The European Central Bank has set a fiscal deficit limit of 3.0 per cent to allow other member nations to adopt the euro. Slovenia began using the currency this year.

In May 1993, Denmark adopted the EU Maastricht Treaty with four exemptions: the adoption of a single European currency, joint defence, judiciary cooperation—which allows Denmark to have its own immigration and asylum policy—and European citizenship. 46 per cent of respondents would lift the exemption on joint defence, and only 32 per cent feel the same way about judiciary cooperation.

Prime minister Anders Fogh Rasmussen of the Left, Liberal Party of Denmark (V)—who was just re-elected this month—has said he wants to put the four EU exemptions to a nationwide vote in 2009. Danish voters rejected the Euro in a September 2000 plebiscite.

On Nov. 23, Steen Bocian, chief economist at Danske Bank, said adopting the common European currency would not bring much economic gains—since the Danish crown is practically pegged to the euro already—declaring, "It will change nothing. The Danish economy is acting as if it were a full member of the union."

Polling Data

In May 1993, Denmark adopted the European Union (EU) Maastricht Treaty with four exemptions: the adoption of a single European currency, joint defence, judiciary cooperation (which allows Denmark to have its own immigration and asylum policy), and European citizenship. Do you think Denmark should lift these exemptions?

 

Single
Currency

Joint
Defence

Judiciary
Cooperation

Yes

52%

46%

32%

No

39%

38%

51%

Not sure

9%

16%

17%

Source: Vilstrup Synovate / Politiken
Methodology: Interviews with 1,016 Dane adults, conducted on Nov. 26, 2007. No margin of error was provided.