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Residents of Italy and France are particularly disappointed with the common European currency, according to a poll by Harris Interactive published in the Financial Times. 77 per cent of Italian respondents and 76 per cent of French respondents say the introduction of the Euro has had a negative impact in their economies.
Spain is third on the list with 68 per cent, followed by Germany with 55 per cent. In Britain, where the euro is not in use, 66 per cent of respondents say the new currency has made no difference.
The euro has been used in 12 of 15 European Union (EU) countries since January 2002. At the time, Sweden, Denmark and Britain were the only EU members that did not adopt the currency. The European Central Bank has set a fiscal deficit limit of 3.0 per cent to allow other member nations to adopt the euro. Slovenia began using the currency last month.
Last month, German chancellor Angel Merkel said she is "worried" about the fact that the main presidential candidates in France are demanding more political control of the European Central Bank (ECB), adding, "The existence of the euro is linked to a common decision which we took: to have an independent Central Bank. We have to be careful that our difficulties are not unfairly blamed on the euro. It is a very tough currency for it shows up in a very clear-cut way where a country is competitive and where it might have problems."