Survey November 2010

Updated: 30.12.2010

Survey: Support to Euro has increased to 54%

According to a survey conducted in November, 89% of the residents of Estonia consider their knowledge of practical issues related to the changeover to the euro as either good or sufficient. 13% of the respondents said that they would like to get or they need additional information.

In comparison to the previous survey, conducted in October, the level of self-determination of knowledge has increased by 5 percentage points.

The knowledge of certain changeover-related basic facts has continued slight improvement. In October, 78% of those surveyed were able to state the exact or almost the exact exchange rate; 90% were aware that the amount of kroons to be exchanged for euros is unlimited, 91% that kroons in cash will still be used for two weeks after the changeover and 90% that banks will not charge fees for exchanging the currencies one month before and six months after the changeover. The knowledge of the fact that the Bank of Estonia will continue to exchange kroons for euros for an unlimited period remains statistically unchanged (55%) and is continuously the least known fact.

Information about the changeover to the euro has mainly been obtained from the media – television (90%), print media (73%) and radio (71%) – followed by friends and relatives (34%) and the Internet (26%). In November the role of information brochures has grown significantly from 18% to 33%, which can be explained with conducting the first wave of mass mailing in November. 

The euro.eesti.ee website is known to 42% of the respondents – 5% of whom have already used it, while 37% know about it but have not used it. 14% of the respondents claim that they do not use the Internet. Although the knowledge about euroveeb has increased, the amount of euroveeb users has decreased.

The information campaign „The €-News“, commissioned by the Ministry of Finance, has been visible to 67%. The main channel has overwhelmingly been TV (94%).

Support for the adoption of the euro has increased. In November, the changeover was supported by 54% and opposed by 36%. (compared to 49%:40% in October, 51%:43% in September and 52%:44% in July). The support was above average among Estonians, as well as among residents with higher education and higher income.

Increase in support to euro can be explained by practical aspects becoming visible and causing the acceptance with the changeover taking really place as the banknotes and coins have been transported to Estonia and front-loaded to banks, euro calculator has been posted to every household etc.

Support for the adoption of the euro is primarily associated with travelling, simpler conducting of monetary affairs abroad. Increasingly, it is perceived that it is good for a member of the EU to have a common currency. Opposition to the changeover is mainly associated with the fear for the increase in prices and the cost of living, and the loss of the kroon as a symbol of identity. In November, the euro-related general price increase was of concern for 72% of the respondents.

The survey was conducted on November 8-15 by the polling company Faktum&Ariko. 502 respondents were interviewed by phone. The survey was commissioned by the State Chancellery and Ministry of Finance.