It is universally acknowledged, so goes the Jane Austen famous or infamous line, but for Cyprus this holds true in regard to the need for reforms that will improve the economy, as according to the latest Eurobarometer, 96% of citizens agree that major changes are needed and 86% are holding the view that governments should do more to counter the ageing population by taking necessary measures to protect public finances.
Cypriots do however, as they stand on the doorstep of the country’s second EU presidency, give a firm thumbs up to the Euro as a currency that should be supported, with eight out of ten concurring. Nevertheless, their nod of approval substantially retreats on usefulness. Only 60% think it’s positive for the country, the second lowest percentage in the Eurozone, with Croatia topping that particular list.
According to the European Commission public opinion poll, 46% of citizens asked, strongly believe that the currency is a European identity marker, ranking slightly lower than the eurozone average. Half of Cypriots want to do away with the one and two cent coins, third from bottom in member states using the currency.
There is a practical opinion it seems amongst Cypriots as to how the euro has worked in changing daily lives. The country does stand behind it as an identity raising tool, facilitating financial transactions, notwithstanding that most, call on governments, currency or not, to push through with additional economic reforms.
54% of Eurozone citizens believe that the euro has facilitated travel, while nearly half has see their banking charges reduced, during movement in other member states. An overwhelming 81% believe that the currency has supported the consumer in price comparisons and 79% is of the view that it has helped businesses across the EU.
National financial policy
Most Cypriots stand firmly behind the unified financial coordination as expressed by the Eurozone structures, with just 3% thinking there should be less clarity between the group’s governments when it comes to policy.
Half of Eurozone residents expect inflation to rise further this year, but Cypriots are 8% lower in such an opinion, compared with October 2024.
What’s up with sector reforms
92% of Cypriots consider health reforms as significant and the slightly higher, also overwhelming percentage of 93% being of the same opinion, when it comes to the educational system, the employment market and pension schemes. Social security system reform is important for 91% of Cypriots asked, with taxation at 81%.
Locals are pan-European it seems, as 80% believe the 650-billion-euro Recovery Plan is a positive development in supporting all member-states.
SOURCE-European Commission