Croatia: Introducing the Euro – hopes and fears

Croatia: Introducing the Euro – hopes and fears

Croatian citizens see the equalization of the country with the rest of the EU and easier payments as the biggest advantages of introducing the euro, while price increases and the loss of “monetary sovereignty” represent their biggest fears, according to the results of a survey by the MojPosao portal released on Wednesday.

The MojPosao website conducted the opinion poll on the introduction of the euro through the MojaPlaca website, showing that more than a third (35%) of the 3,500 respondents were neither for nor against the introduction of the euro, that is, they did not have a clear attitude so they were excluded from the rest of the survey.

Of the citizens who had an opinion on the subject, 54% stated in support of the introduction of the euro, while 46% opposed it.

Older respondents support the currency change more emphatically, with 65% of respondents over the age of 46 having a positive view on the matter, compared to 49% of those younger than 25.

Broken down by gender, 64% of the male and 43% of the female population supports the introduction of the euro, the MojPosao website announced in a press release.

The study also indicates that those with higher salaries are in favour of the euro — 74% of participants with a net salary over HRK 8,500 support it, compared to 43% of those who earn under HRK 4,500.

Half of the citizens see the equalization of Croatia with the rest of the EU and easier payments as the biggest advantages of the euro introduction.

They also believe that the change will lead to a more stable currency, while some think that it would lead to lower interest rates on loans and a reduction in currency conversion fees for changing kunas into euros.

As for the disadvantages, people mostly fear price increases and the loss of “monetary sovereignty”.

One in three respondents believes the introduction of the euro is too complicated, while one in four says it will no longer be possible to use the exchange rate to increase the economy’s competitiveness.

Most respondents (85%) think that price increases are inevitable.

As for incomes, 40% of the respondents state that there will be no significant changes. One third hopes that incomes will grow moderately, while one fourth thinks they will decline.

According to some estimates and based on the current information, Croatia could introduce the euro as soon as in 2023. The survey carried out by the MojPosao web portal shows that an equal number of people think that that is enough time to adjust and that the planned date is not sufficient for all the preliminary work needed to introduce the euro. /ibna