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(11/24/06) -

Euro Adoption Splits Views in New Members

- Adults in Hungary believe it will take a long time before they are ready to use the single European currency, according to a 10-country Eurobarometer conducted by The Gallup Organization. 63 per cent of respondents do not expect the Euro to be introduced in Hungary until 2011 or later.

- Adults in Hungary believe it will take a long time before they are ready to use the single European currency, according to a 10-country Eurobarometer conducted by The Gallup Organization. 63 per cent of respondents do not expect the Euro to be introduced in Hungary until 2011 or later.

The Euro has been used in 12 of 15 European Union (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.

In June, Hungarian prime minister Ferenc Gyurcsany introduced a fiscal “austerity package” of state subsidy reductions and tax increases, aimed at lowering the country’s fiscal deficit from a projected 10.1 per cent this year, to 3.2 per cent in 2009. The prime minister has said Hungary might adopt the single European currency between 2010 and 2012.

In May 2004, ten countries—Cyprus, the Czech Republic, Estonia, Hungary, Latvia, Lithuania, Malta, Poland, Slovakia and Slovenia—joined the EU. Slovenia has been authorized to start using the euro on Jan. 1, 2007.

Yesterday, Slovenian prime minister Janez Jansa sacked labour minister Janez Drobnic, who caused a controversy after suggesting financial restrictions on abortion as a measure to increase the country’s birth rate. Jansa explained his decision, saying, “Too often he acted without harmonizing his activities, he had too many proposals that were not considered carefully and caused useless conflicts.”

Polling Data

When, in which year do you think the euro will be introduced in your country?

Before 2008

2009-2010

2011-2012

2013-later

Never

Slovenia

99%

Malta

91%

3%

Cyprus

83%

7%

1%

1%

1%

Estonia

44%

35%

3%

2%

2%

Latvia

36%

38%

7%

4%

1%

Lithuania

36%

40%

5%

1%

2%

Slovakia

13%

71%

7%

1%

Poland

13%

35%

19%

12%

2%

Czech Republic

8%

46%

21%

13%

1%

Hungary

4%

22%

31%

32%

1%

Source: The Gallup Organization / Eurobarometer
Methodology: Interviews with 10,092 people ages 15 and over in Cyprus, the Czech Republic, Estonia, Hungary, Latvia, Lithuania, Malta, Poland, Slovakia and Slovenia, conducted from Aug. 4 to Sept. 8, 2006. Margin of error is 3.1 per cent.

Complete Poll (PDF)