Business Irish

Tuesday 23 January 2018

67pc want to keep euro despite economic crisis

Mark Keenan

Mark Keenan

A strong majority of Irish people remain in favour of the euro currency despite the economic crisis.

A new Europe-wide survey by eurobarometer, which is based on research conducted here last month, shows that 67pc of Irish people are in favour of keeping the single currency – significantly higher than the European average of 53pc.

However, the figure represents a 12 percentage point drop on previous research conducted six months ago.

Unemployment remains our biggest single economic concern, with 65pc citing it as our most pressing issue, compared with the 48pc EU average who rate it as their top concern.

This is followed by the general economic situation at 43pc (the EU average was 37pc), while government debt was the biggest worry for 21pc (17pc).

The eurobarometer research also shows that we've become even more pessimistic on the state of our economy since the last survey in spring, with just 20pc believing things will improve in the coming year. One-quarter believed things would get worse over the next 12 months – a rise of 12 percentage points since the last survey.


The largest group – half of those polled – believed the economy would continue to tread water.

While 91pc described our economy as "totally" bad, placing us in the most pessimistic tranche of Europeans, this was only slightly more pessimistic than the French (89pc) and more optimistic than the Spanish (98pc) and the Italians (93pc) who have an even grimmer view on their own economic outlook than the Irish.

Irish trust in the EU has dropped by 3pc since May, with less than one-third (29pc) considering its institutions trustworthy, compared with 57pc who do not trust them.

Despite this, it seems that we trust the EU considerably more than our own Government, with just 18pc now trusting the Fine Gael/Labour coalition (down 6pc), while 76pc do not trust the Government.

Irish Independent

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