The euro debates continue

From Mixed-up emotions 'bad for the euro' by Bruno Waterfield (Telegraph.co.uk, Jan. 30, 2007):

European Union officials yesterday blamed "mixed up" people for letting emotions get in the way of a proper appreciation of the euro.

The remark came in response to a new FT-Harris poll which shows that most of the eurozone's citizens would like to have their old, comfortable national currencies back.

Feelings are particularly strong in Germany, the present holder of the EU's rotating presidency and Europe's largest economy.

Two thirds of Germans now prefer the Deutschmark to the euro and more than half believe that the European single currency has damaged their country's economy.

But the European Commission insists that ordinary people are simply failing to grasp the benefits of the single currency...

Rest the rest of the Waterfield article. It's got some comments from Derek Scott, Tony Blair's economic adviser between 1997 and 2003, who argues against the euro.

I found that article via Brussels Blames the People for Euro’s Unpopularity, The Brussels Journal, January 30, 2007 -- which also links to Europeans still take a dim view of the euro, by Ralph Atkins, Financial Times (FT.com), January 28, 2007. Atkins' article appears to be a bit more rounded, shall we say, and has the poll particulars. A taste:

"[The survey] results will disturb the European Central Bank, which has faced stiff criticism in recent weeks from both Ségolène Royal and Nicolas Sarkozy, the main candidates in April’s French presidential elections, who accuse the central bank of hampering growth. The ECB regards its public credibility, and that of the euro, as essential to its battle against inflation, which is sees as the prerequisite for growth.

The survey also shows that most adults in the largest European countries think migration has reduced wages and only a quarter have a positive view of the entry into the European Union this year of Bulgaria and Romania.

However, eurozone citizens generally see wider benefits of the euro. More Germans, Italians and Spanish see a positive impact on the EU economy than a negative effect, according to the survey. That suggests they see others benefiting rather than themselves. The exceptions are the French, more of whom see a negative rather than positive impact.

The results come at a time when eurozone growth prospects have brightened, thanks largely to a pick-up in Germany, the largest of the region’s 13 member countries. The ECB is expected next week to prepare financial markets for another interest rate increase in March.

Read the full Financial Times article.

P.S. Just so you have a point of reference:

This FT/Harris Poll was conducted online by Harris Interactive among a total of 5,292 adults, within France, Germany, Great Britain, Italy and Spain. The survey was conducted between January 10 and January 22 2007.