The Euro as More than a Currency: How Salient is the European Single Currency to Europeans
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This study moves past traditional studies of euro approval based on demographics and examines the euro within a two dimensional identity framework. Using Eurobarometer survey data from both 2003 and 2008, this study establishes that an intrinsic relationship between nominal identity toward the euro and nominal identity toward the EU exists in the minds of Europeans. The second identity dimension examines the relative-oriented identity of Europeans toward the euro and EU. It establishes that relative-oriented identity toward the euro and EU, reflected by a cognitive assessment of an individual?s perception of the EU, is firmly imbedded within one?s nominal identity toward the EU and euro. In addition, this relative-oriented identity is so firmly rooted in this nominal identity correlation that it remains unaffected by national issues. Because the euro is so inextricably bound to EU identity, politicians and governments must be very purposeful in their treatment of the euro. It becomes more than a utilitarian tool. It is an integral aspect of the European Union and the identity associated with it. Harming the euro could have drastic repercussions for the development of a European identity.
Hayes, Laura J. (2010). The Euro as More than a Currency: How Salient is the European Single Currency to Europeans. Texas A&M University. Available electronically from