FRANCE/FILE: Despite crises and mayhem on the markets the French still love their euro

Record ID: 1542843

  • Title: FRANCE/FILE: Despite crises and mayhem on the markets the French still love their euro
  • Date: 15th September 2011
  • Summary: PARIS, FRANCE (SEPTEMBER 14, 2011) (REUTERS) VARIOUS OF FREDERIC DABI, HEAD OF IFOP POLLING INSTITUTE, READING NOTES (SOUNDBITE) (French) FREDERIC DABI, IFOP OPINION POLL INSTITUTE, SAYING: "Today, despite the crisis, despite the worries on the financial markets, despite the fact the public opinion knows that was is happening in Greece could happen in France, for a large majority the public opinion supports the Euro." DABI LOOKING AT NOTES (SOUNDBITE) (French) FREDERIC DABI, IFOP OPINION POLL INSTITUTE, SAYING: "People fear the return to the Franc. Is it because of fears that debts would explode or that France would end up isolated in Europe? But for the moment the euro is not linked to people's worries about debt, to their worries about what is happening in Greece. For public opinion, let us say three quarters of the French public, these are two different things." NOTES WOMEN TALKING IN MARKET IN PARIS (SOUNDBITE) (French) EVELYN, A PASSER-BY, COMMENTING ON EURO: "I don't agree at all with the idea of leaving the Euro. Now we have implemented it in Europe, we have to keep on with it. What is happening in Greece is not that dramatic, we should be able to help them to keep the Euro." PEOPLE WALKING (SOUNDBITE) (French) CHRISTIAN, A PASSER-BY, COMMENTING ON EURO: "The idea of changing the Euro's orientation would be a good idea, to make it more democratic towards the ECB (European Central Bank). But return to the Franc, I don't' think so. It would be an economic mistake." PEOPLE WALKING (SOUNDBITE) (French) MARIA , AN ITALIAN WOMAN LIVING IN FRANCE AND PASSER-BY, COMMENTING ON EURO: "Come back to the era of the Franc, I don't know... It 's good to have a united Europe, no ?" PEOPLE WALKING MARSEILLE, FRANCE (SEPTEMBER 9, 2011) (REUTERS) WORLD FINANCE MINISTERS GATHERING FOR FAMILY PHOTO AT G7 SUMMIT
  • Embargoed: 30th September 2011 00:38
  • Keywords:
  • Location: France
  • Country: France
  • Topics: Finance,Politics
  • Reuters ID: LVAARQPYTYRXNVYXN31QFUWINPJN
  • Aspect Ratio: 4:3
  • Story Text: Greece may be mired in debt, markets may be crashing and the banks may not be looking as safe as they once did -- but none of that has dampened French enthusiasm for Europe's single currency -- legal tender in 17 countries and hard cash for more than 300 million people.
    The crisis surrounding the currency may have stoked euroscepticism in countries such as Finland, the Netherlands and Germany. But if you ask the French whether they would be better off with their old-fashioned franc, the answer is an unequivocal 'non'.
    Frederic Dabi, who monitors public opinion for a range of issues at the IFOP polling institute, said on Wednesday (September 14) the French might not be overjoyed at the prospect of bailing out Greece, but they fear the alternatives.
    "Today, despite the crisis, despite the worries on the financial markets, despite the fact the public opinion knows that was is happening in Greece could happen in France, for a large majority the public opinion supports the Euro," he says.
    Polls taken over the summer when the crisis was bubbling away showed three quarters of the French did not want the Franc back.
    "People fear the return to the Franc. Is it because of fears that debts would explode or that France would end up isolated in Europe? But for the moment the euro is not linked to people's worries about debt, to their worries about what is happening in Greece. For public opinion, let us say three quarters of the French public, these are two different things," he says.
    Last weekend's gathering of the Group of Seven (G7) finance ministers on French soil offered much in terms of verbal support for the monetary union, but did little to stem the falls on equity markets -- or stop the currency itself coming under pressure.
    And on the streets of Paris, global policy-makers' various attempts to solve the crisis and restore confidence in the euro have been viewed with bemusement.
    "I don't agree at all with the idea of leaving the Euro. Now we have implemented it in Europe, we have to keep on with it. What is happening in Greece is not that dramatic, we should be able to help them to keep the Euro," said one passer-by at a market.
    Many felt the time was ripe for change in the euro zone and said there was a clear argument for better co-ordination of fiscal and economic policies. But no question of dumping the currency itself.
    "The idea of changing the Euro's orientation would be a good idea, to make it more democratic towards the ECB (European Central Bank). But return to the Franc, I don't' think so. It would be an economic mistake," said Christian, a shopper at the market.
    President Nicolas Sarkozy frequently hammers home his message that the Euro is the very foundation of a more integrated Europe, Italy's prime minister, Silvio Berlusconi this week called it the very flag of Europe -- a message many seem to accept.
    "Come back to the era of the Franc, I don't know... It 's good to have a united Europe, no?," said Maria, another shopper.
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