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Hanni Schölermann

15 June 2020
Economic Bulletin Issue 4, 2020
Building on the literature on trust in institutions, this article looks at the state, evolution and sociodemographic breakdown of citizens’ trust in the ECB and support for the euro. Drawing on a novel typology of attitudes towards Economic and Monetary Union (EMU) and using microdata from Eurobarometer surveys since the introduction of the single currency, the analysis tracks the prevalence of supporters and sceptics of EMU over time and across euro area countries. It further explores the sociodemographic characteristics, economic perceptions and, more broadly, European sentiments within these groups. In this way, it provides insights into the factors shaping citizens’ attitudes towards the ECB, the euro and EMU, and helps identify possible avenues for enhancing trust. The analysis indicates that popular support for EMU – in particular, trust in the ECB – hinges to a large extent on citizens’ perceptions of their personal situation and the overall economic context, as well as their broader attitudes towards the European Union, while other sociodemographic indicators seem to be less relevant.
JEL Code
E58 : Macroeconomics and Monetary Economics→Monetary Policy, Central Banking, and the Supply of Money and Credit→Central Banks and Their Policies
G53 : Financial Economics
R10 : Urban, Rural, Regional, Real Estate, and Transportation Economics→General Regional Economics→General
Z13 : Other Special Topics→Cultural Economics, Economic Sociology, Economic Anthropology→Economic Sociology, Economic Anthropology, Social and Economic Stratification