Is the euro unpopular?

A

ajapale

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Listening to local radio reports last night I was struck by the assertion that the one of the reasons why the Dutch rejected the EU contstitution was because of the "unpopularity of the euro".

Is this true? Is the euro unpopular in Holland? How popular is the euro in Ireland?

Travelling around Europe over the last few years I got the impression that people across the eurozone were broadly happy with the currency.

ajapale
 
Personally I think the Euro is a great thing. I love being able to go on hols and not worry about exchange rates, banks fleecing me, being ripped off due to unfamilarity with local currency etc. etc. I also love the lower interest rates that came with joining EMU. If only the UK would join it would be even handier for going up North.

BB
 
Its unpopular in Italy where 1,000,000 has suddenly become a lot of money and not everyone is a millionaire any more
 
The Italians illogically blame the euro for all their woes at the moment - and not the government. I'd like to see what would have happened to Italy if they had kept the lira. I think they would be much much worse off - and things are very bad here at the moment!
 
Italy has been running vast budget deficits for years and is chronically indebted , according to 'the rules' it should never have been let into the Eurozone in the first place .

In 2002 for example !

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Over the Years

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and cumulatively, (HINT, We Irish managed to hit 125% around 1987-1990 )

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Funnily enough - wasn't Ireland the only (?) country in which nominal prices went up immediately when the € was introduced? For example, something sold for IR£1 became €1.27 while in most or all other € zone countries the nominal price went down?
 
As soon as the Euro came in in Italy, the cost of products costing Lire 1,000 commonly began costing Euro 1 (almost doubling). Food went up terribly, but prices seem to be going down at the moment in most places - only because of the crisis.

Clothing is cheap because most of them are imported (legally or illegally) from China It is almost impossible to find genuine Italian made clothes in the shops. I don't think the Italian factories could compete with the prices anyway - so I suppose that will mean more and more unemployed Italians.
 
The euro has also caused a wage inflation in Ireland esp for American companies based in Ireland .....

Could it contribute to Ireland being an expensive place to locate hire ????
 
CoffeeBrew said:
Euro seems to be increasing unpopular in Germany. Some 56% of Germans want to go back to the deutschmark.
Click to expand...

From the BBC article...

According to Stern, some 56% of Germans want to go back to the deutschmark.
Click to expand...


I wonder if this poll was conducted scientifically or was it yet another rubbish, populist telepoll or something like that?
 
zardebt said:
The euro has also caused a wage inflation in Ireland esp for American companies based in Ireland .....
Click to expand...

How can you attribute wage inflation solely or mainly to the currency in use!? Surely more pertinent factors are supply and demand, inflation/cost of living etc.?
 
What I am saying is that the cost of hiring in Ireland due to the euro esp for American companies has increased.

what I am concerned about is that it may be a contributing factor for American companies to hire else where hmmmmm


Zardebt
 
I'm not suprised the Germans are hankering for the DM, they'd have 1% base rates now if they still had control of monetry policy.
 
Are you sure about that? I thought that rates were only as low as they are now because of the situation in the likes of Germany and France? Don't forget that the quid pro quo for this would be that if we our Central Bank had control of interest rates here then ours would be much higher!
 


I think if the ECB was to just monitor France and Germany there would have been a rate cut in the last year .... Due to inflation pressure from countries like Ireland Spain the ECB is force to walk a tight rope and stay neutral ....

and that's why like Duplex says Germans are hankering for the DM,

they'd would have a 1% base rates now if they still had control of monetry policy to try and stimulate some growth !!
 
€1.30 to the $ was as crazy as €0.80 to the dollar a few years back.

I would say €1-€1.10 is fair value , it will drop to €1.10 by July if there is a possibility of a rate cut in Europe and if the ECB dont either do it or rule it out completely .

$ Chief Alan Greenspan observed a trend towards low long term interest ratesin a speech a few days back.

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"But he added that there was no fully satisfying explanation for such low long-term rates, which are a worldwide phenomenon and which have been insensitive to signs of strength in the global economy.

Foreign central bank purchases of US Treasuries was part of the explanation, but the overall impact had probably been "modest", and could not explain the drop in long-term rates over the past year around the world, he said."

Must keep overpaying that mortgage
 
do we have any comments to make ourselves Roy , I have the BBC on my RSS feed already ta very much ?
 
the brits are laughing. albert reynolds once stated that if someone travelled through all 15 eu countries and started with £100 and without spending any money whatsoever just changed money in each country then by country 15 he would have little or nothing left. So now we have a common currency in the eurozone which personally I think is brilliant but looking at it from the brits point of view, they have control over their own interest rates and they only have to purchase ONE currency to trade or travel in all eurozone countries. Not that much more difficult than ourselves when it comes to it.
 
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