54 per cent support the euro

Support for the adoption of the euro in Malta is steadily on the rise, according to a new Eurobarometer survey published by the European Commission in Brussels yesterday.

According to the survey, conducted by MISCO last April, 54 per cent of respondents said that they are happy with the euro replacing the Maltese lira - a 12 per cent increase over April 2006, when only 42 per cent were satisfied.

This positivity was also reflected when the 1,001 respondents in the survey were asked how the euro would affect them.

Fifty-four per cent said they think it would affect them positively, while only 27 per cent remarked it would hit them negatively. The remainder did not express their opinion.

In April 2006 the mood was also different on a personal level.

In fact, only 45 per cent (-9 per cent) had said that the euro would affect them in a positive way, while those saying it would affect them negatively was eight per cent higher (35 per cent).

The telephone survey in Malta took place prior to the positive decision given to Malta by the European Commission earlier this month, when Brussels recommended that the island was prepared to adopt the euro and enter the Eurozone on January 1, 2008.

The significant increase in public support towards the adoption of the euro could be attributed to the strong information campaign mounted by Government, through the National Euro Changeover Committee (NECC). According to the recent public opinion survey, the Maltese are feeling much more informed about the changeover process than a year ago.

Asked whether they felt they knew enough about the euro, 71 per cent said they felt well informed or very well informed. Those responding positively to a similar question in April 2006 were only 33 per cent.

At the same time, the survey shows that the Maltese are still convinced that the euro changeover will bring about an increase in prices. Sixty-five per cent said the euro would bring about inflation, while only 1.5 per cent think the euro will have a adverse effect. On the other hand, 24.4 per cent said that the euro changeover should have no impact on prices, while 9.2 per cent did not respond.

Malta's final green light to adopt the euro at the beginning of next year is expected to be taken up by EU Finance Ministers in July.