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Citizens’ attitudes towards the ECB, the euro and Economic and Monetary Union

Author

Listed:
  • Bergbauer, Stephanie
  • Hernborg, Nils
  • Jamet, Jean-Francois
  • Persson, Eric
  • Schölermann, Hanni

Abstract

Building on the literature on trust in institutions, this article looks at the state, evolution and sociodemographic breakdown of citizens’ trust in the ECB and support for the euro. Drawing on a novel typology of attitudes towards Economic and Monetary Union (EMU) and using microdata from Eurobarometer surveys since the introduction of the single currency, the analysis tracks the prevalence of supporters and sceptics of EMU over time and across euro area countries. It further explores the sociodemographic characteristics, economic perceptions and, more broadly, European sentiments within these groups. In this way, it provides insights into the factors shaping citizens’ attitudes towards the ECB, the euro and EMU, and helps identify possible avenues for enhancing trust. The analysis indicates that popular support for EMU – in particular, trust in the ECB – hinges to a large extent on citizens’ perceptions of their personal situation and the overall economic context, as well as their broader attitudes towards the European Union, while other sociodemographic indicators seem to be less relevant. JEL Classification: E58, G53, R10, Z13

Suggested Citation

  • Bergbauer, Stephanie & Hernborg, Nils & Jamet, Jean-Francois & Persson, Eric & Schölermann, Hanni, 2020. "Citizens’ attitudes towards the ECB, the euro and Economic and Monetary Union," Economic Bulletin Articles, European Central Bank, vol. 4.
    • Handle: RePEc:ecb:ecbart:2020:0004:1
    Note: 2411794
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    Citations

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    Cited by:

    1. Niţoi, Mihai & Pochea, Maria-Miruna, 2024. "Trust in the central bank, financial literacy, and personal beliefs," Journal of International Money and Finance, Elsevier, vol. 143(C).
    2. Michael Ehrmann & Sarah Holton & Danielle Kedan & Gillian Phelan, 2024. "Monetary Policy Communication: Perspectives from Former Policymakers at the ECB," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 56(4), pages 837-864, June.
    3. Assenmacher, Katrin & Glöckler, Gabriel & Holton, Sarah & Trautmann, Peter & Ioannou, Demosthenes & Mee, Simon & Alonso, Conception & Argiri, Eleni & Arigoni, Filippo & Bakk-Simon, Klára & Bergbauer, , 2021. "Clear, consistent and engaging: ECB monetary policy communication in a changing world," Occasional Paper Series 274, European Central Bank.
    4. Mochhoury, Sarah, 2023. "Central bank communication and trust: an experimental study on the European Central Bank and the general public," Working Paper Series 2824, European Central Bank.
    5. Philip R. Lane, 2021. "The Resilience of the Euro," Journal of Economic Perspectives, American Economic Association, vol. 35(2), pages 3-22, Spring.

    More about this item

    Keywords

    attitudes towards Economic and Monetary Union; Economic and Monetary Union; EU public opinion; political economy; support for the euro; Trust in the ECB;
    All these keywords.

    JEL classification:

    • E58 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Central Banks and Their Policies
    • G53 - Financial Economics - - Household Finance - - - Financial Literacy
    • R10 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - General Regional Economics - - - General
    • Z13 - Other Special Topics - - Cultural Economics - - - Economic Sociology; Economic Anthropology; Language; Social and Economic Stratification

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