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Greek ricochet? What drove Poles' attitudes to the euro in 2009-2010

Author

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  • Torój, Andrzej

    (Ministry of Finance in Poland)

  • Osińska, Joanna

    (Ministry of Finance in Poland)

Abstract

We investigate the determinants of support for the euro adoption in Poland in 2009 and 2010. Using two unique survey datasets, collected in December 2009 and June 2010, we estimate ordered and unordered logit models explaining the respondents' attitude to the introduction of the common currency. Whereas the public support has generally declined over this period, probably against the background of sovereign debt crises in the euro area, this decline was concentrated along some dimensions. We find that the declared level of information about the euro is a key driver of this support, both in 2009 and - even more so - in 2010, as well-informed respondents tend to be significantly more supportive of the common currency than badly-informed ones. We also find some evidence that political views influence the attitude towards the euro, but they are by no means its main determinant. During the crisis, the conviction of euro being a "strong, stable currency" has faded; instead, a negative attitude started to result from low income, high age and low economic knowledge. Surprisingly, in 2010 a more negative attitude was represented by students, white-collar workers and big city residents. All in all, the public perception of the euro does not seem to be fixed, but evolves with economic and political developments, so that new concerns appear.

Suggested Citation

  • Torój, Andrzej & Osińska, Joanna, 2011. "Greek ricochet? What drove Poles' attitudes to the euro in 2009-2010," MF Working Papers 10, Ministry of Finance in Poland, revised 17 Aug 2011.
    • Handle: RePEc:ris:mfplwp:0010
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    References listed on IDEAS

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    1. Petra Cisková & Emília Zimková & Colin Lawson, 2021. "Visegrad trust in the European Central Bank: common and country specific determinants 2005–2018," Bank i Kredyt, Narodowy Bank Polski, vol. 52(6), pages 495-516.

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    More about this item

    Keywords

    EMU; attitudes towards the euro; public opinion; ordered logit; unordered logit;
    All these keywords.

    JEL classification:

    • C25 - Mathematical and Quantitative Methods - - Single Equation Models; Single Variables - - - Discrete Regression and Qualitative Choice Models; Discrete Regressors; Proportions; Probabilities
    • F33 - International Economics - - International Finance - - - International Monetary Arrangements and Institutions

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