Euro – teen with uncertain prospects – Göteborgs-Posten

the Euro is turning 15 years old on new year’s day. Arkivbild. Photo: Claudio Bresciani, TT

Economy the Euro is celebrating 15 years on new year’s day. Like many teenagers, the currency has a few shaky years behind, and uncertain prospects. The support is stable, however, in the 19 euro area countries.

today it is almost 340 million people who have the euro as their country’s currency. But it was not love at first sight for all.

Many experienced the change as an unwelcome price increase. In Germany, the new currency nicknamed the “teuro”, a play on words with the German word “teuer” (expensive).

But attitudes softened with the years, when the benefits for travel and trade between the countries were detected. Today, 56 percent to the euro is good for their country, according to a EUROPEAN commission study made among 17 500 inhabitants in the eurozone, reports the AFP.

Generation euro

Among those between 15 and 24 years, the generation that has grown up with the euro, the support is even higher, at 68 per cent like the currency.

- the average citizen sees the euro as a source of political stability, but also a source of low inflation, ” says Maria Demertzis, deputy director at the think tank Bruegel, to the AFP.

the Eurozone has during the 15 years has endured two major crises that nearly cracked the monetary union. The problems began in Greece in the wake of the financial crisis in 2008 and spread to other EU countries such as Portugal and Ireland. The crisis led to a range of international rescue packages and put european solidarity to the test.

But for Greece, where the crisis is not over. Despite two bail-outs ended up the country once again on the brink of state bankruptcy and risked being thrown out of the eurozone in 2015. A third bailout did to the greeks still have left the euro.

Uncertain future

the Future of the common currency shadowed by some cloud on the horizon. Approaching important elections, and the leaders in the eurozone with concern the risk that populist and eurosceptic parties, the strengthening of the british decision to leave the EUROPEAN union.

In France, Marine Le Pen, leader of the National front, promised to abandon the euro and hold a referendum on EU membership if she wins the presidential election. The högerextreme leader Geert Wilders has also brought forward the idea of an EU vote.

- Economically, so I think we have less to worry about, because the eurozone is recovering. But the political uncertainty is there, we’ll keep our eyes on, ” says Maria Demertzis AFP.