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CURRENCY

Swedes don’t want to join the euro – now or ever

A large majority of Swedes don’t want to join the eurozone and most predict the country will never adopt the EU’s common currency‚ according to a new survey.

Swedes don't want to join the euro – now or ever
Euros? Nej tack! Photo: Jens Meyer/AP

Sixty-eight percent of Swedes are opposed to replacing the krona with the euro, a new Eurobarometer poll shows. 

The survey was carried out in the seven countries that are not yet part of the single currency but have pledged to join at some point. These are: Czech Republic, Bulgaria, Poland, Croatia, Hungary, Romania and Sweden. 

The two other countries outside the eurozone, Denmark and the UK, have each secured exemptions and are not obliged to join, as Europaportalen reports

Thirty percent of respondents in Sweden were “strongly against” adopting the euro. A further 38 percent were “rather against”. Only four percent were strongly in favour of introducing the euro. 

Czechs were even more strongly opposed than Swedes, with 70 percent keen to give the euro a wide berth. 

Poles also want to stay out, whereas Bulgarians, Croats, Hungarians and Romanians would prefer to scrap their domestic currencies. Support for the euro was strongest in Romania, where 66 percent of respondents favour the euro over the leu. 

Despite their overall opposition, a majority of respondents in the seven countries polled said the euro had made a positive impact in the countries that had adopted it. 

Even thought these countries are formally required to join, in practice the decision remains in national hands. And 55 percent of Swedes don’t think the euro will ever become their currency.

For members

CURRENCY

Spanish town brings back the peseta in bid to boost spending

They haven't been legal currency in Spain since 2002 but residents in one town in Valencia can now spend any old pesetas they have hidden away thanks to a scheme aimed at boosting spending during the coronavirus crisis.

Spanish town brings back the peseta in bid to boost spending
Old peseta notes and coins can be exchanged until the end of 2020. Photo: AFP

The Multipaterna Commerce and Services Association has launched a campaign that allows payment to be made with pesetas in certain establishments in Paterna, a town in the Valencian Community.

The campaign, which includes hardware stores, opticians, computer and electronics stores, real estate, florists, lingerie stores and parcel kiosks, will run until December 15th. 

For the rest of Spain those who still have the old currency there is still a few months left to convert them into euros, although they can’t spend them in shops.

Spaniards have been told that they have until December 31st 2020  to exchange their pesetas for euros and that applies for both bank notes and coins.

Any notes produced during the Franco era, which ran from the end of the Civil War in 1939 until the dictator's death in 1975 can be automatically changed by the Bank of Spain.

Those issued during the conflict can also be exchanged but the process will involve them being analysed by experts to confirm their authenticity.

And any coins still in circulation at the time that euros were brought in on New Year's Day in 2002 can also be exchanged at Bank of Spain headquarters in Madrid.

The exchange rate offered  by the Bank of Spain is 1 euro = 166,386 pesetas but the bank advised that commemorative coins and notes may be worth more as collectors' items than for their face value, which is all that will be offered in the exchange scheme.

The Bank of Spain estimates that pesetas worth some €1.61 billion are squirreled away in Spanish homes, cluttering up the drawers of old desks and trunks in dusty old attics.

Many will never see the light of the day and others have become collectors' items now worth more than their exchangeable value.

Spain adopted the Euro at the start of 2002 but pesetas were still legal currency during a transition period that lasted the first three months of that year.

Exchanges can be made in person at the Banco España building on Madrid's Calle Alcala or via a postal or online service, even available to those abroad.  For more information check out the official webpage of the Banco España HERE. 

By Conor Patrick Faulkner in Valencia

 

 

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