Euro Introduction in Cyprus and Malta Ex-Post Citizen Survey

Gallup Flash Eurobarometer N o 189a EU communication and the citizens Flash Eurobarometer European Commission Euro Introduction in Cyprus and Malta Ex-Post Citizen Survey Summary Fieldwork: February 2008 Report: March 2008 Flash Eurobarometer 222 & 223 The Gallup Organization This survey was requested by Economic and Financial Affairs, R-4 and coordinated by Directorate General Communication This document does not represent the point of view of the European Commission. The interpretations and opinions contained in it are solely those of the authors. Analytical Report, page 1

Flash EB Series #222 & #223 Euro introduction in Cyprus & Malta Ex-Post Citizen Survey Conducted by The Gallup Organization, Hungary upon the request of the DG Economic and Financial Affairs, R-4 Coordinated by Directorate-General Communication This document does not reflect the views of the European Commission. The interpretations and opinions contained in it are solely those of the authors. THE GALLUP ORGANIZATION

The Gallup Organization Flash EB N o 222 / 223 Euro Introduction in Cyprus / Malta, Citizen Survey Table of Contents Table of Contents... 3 1. Introduction... 4 2. Main findings... 5 3. Personal experiences with the euro... 7 4. Knowledge about the euro s security features... 13 5. Fears about the changeover... 15. Sources used to become aware of the euro... 17 page 3

Flash EB N o 222 / 223 Euro Introduction in Cyprus / Malta, Citizen Survey The Gallup Organization 1. Introduction As of January 1, 2008, Cyprus and Malta joined the euro area. In each country a separate survey, Flash Eurobarometer 222 in Cyprus and Flash Eurobarometer 223 in Malta, was conducted for the European Commission, Directorate-General Economic and Financial Affairs. The current report, Euro Introduction in Cyprus and Malta. Ex-Post citizen Survey, presents the results for both these surveys. In addition, it makes comparisons with a survey conducted in Slovenia, in early 2007, immediately after the euro s introduction ( Survey of the general public in Slovenia after the introduction of the euro", Flash Eurobarometer 205). As the questionnaires were similar in all the three surveys (FL222 Cyprus, FL223 Malta and FL205 Slovenia) the presentation of the results in one single report and comparisons between the results are justifiable. The survey covers the following themes: Personal experience o when using euro banknotes and coins, converting from the old national currency to euros, and understanding values in euros; o regarding the dual display of prices: how useful respondents found it, and whether or not it was implemented correctly; o with euro coin starter kits; problems experienced with exchanging old national currency into euros; Awareness of the security features of euro banknotes; Fears regarding correct price conversion and the correct rounding of prices, and fears about increased inflation due to the changeover; Sources and channels of information (regarding the changeover), sense of being informed about the euro; satisfaction with the information received from national authorities; and the usefulness of euro spots, ads and the euro calculator. The charts in the report present the results from Cyprus and Malta, broken down by the following socio-demographic characteristics of respondents: Sex (male; female) Age (15-24; 25-39; 40-54; 55 +) Subjective urbanisation o In Cyprus: in an urban area (Nicosia/Lefkosia, Limassol/Lemesos, Larnaka, Paphos) o In Malta: either in Malta or in Gozo, Comino or Manoel. Occupation (self-employed; employee; manual worker; not working). The telephone interviews were conducted between the February 2 and February, 2008, 1003 interviews were conducted in Cyprus and 1009 in Malta. The national samples were representative of the population aged 15 years and above. Smaller discrepancies stemming from sampling procedure were corrected by a weighting procedure called raking. The sample was weighted for age, sex, region and economic activity to accurately reflect the parameters of the universe. Summary, page 4

The Gallup Organization Flash EB N o 222 / 223 Euro Introduction in Cyprus / Malta, Citizen Survey 2. Main findings Personal experiences with the euro Ability to distinguish euro coins and euro banknotes: At least three-quarters of the respondents from Cyprus, (81% found it easy), and Malta (75%) said that they could easily distinguish both euro coins and euro banknotes. The Slovenian post-euro figure was 9%. Currency used when making calculations while shopping: A relative majority (40%) of Cypriots said they mainly calculated in their old national currency for high-value purchases and in euros for everyday shopping (44%). This was similar to the post-euro situation in Slovenia (47% and 50% respectively). A relative majority of Maltese calculated in euros for special purchases (40%) and a majority (52%) in euros for everyday shopping. o The oldest Cypriots (55 years or older) were more likely than the younger ones (aged 15 to 54 years-of-age) to use euros as a mental benchmark for special purchases. Converting from national currencies to euros: In both Cyprus (83%) and Malta (73%), the majority of respondents said it was easy for them to convert from their old national currencies to euros. Almost eight out of 10 Slovenians (79%) said the same thing immediately after the euro s introduction. Recognising values in euros: Eight out of 10 Cypriots (82%, 10 percentage points more than the Maltese) said they easily understood the values displayed in euro. Immediately following the changeover in Slovenia, three-quarters of Slovenians (75%) said a similar thing. Usefulness of dual displays of prices: Three-quarters of Maltese (77%) and two-thirds of Cypriots (8%) found the dual displays of prices to be very useful. A considerably lower proportion of Slovenians found the dual display of prices to be very useful (47%). Euro coin starter kits: Almost half of Malta s citizens (48%) bought euro coins starter kits. In Cyprus, only a third of respondents (32%) bought euro coins starter kits, figures identical to those recorded in Slovenia a year ago. Problems experienced at the time of the changeover: A large majority of Cypriots (88%) and Maltese (85%) did not experience any problems. By comparison, a year ago, 9% of Slovenians did not have any problems. Over three-quarters of the citizens who experienced problems mentioned long queues at counters both in Cyprus (77%) and Malta (89%). The second most frequent problem was long queues at ATMs (17% in Cyprus and 15% in Malta). Knowledge about the euro s security features Awareness: The Maltese were the most unfamiliar with the security features of euro banknotes compared to the Cypriots and Slovenians (one year ago). A quarter of the Maltese (25%) could not specify such features, while only 15% of the Cypriots were in this situation. The corresponding Slovenian figure was 12%. Overall, we noticed that in Cyprus, the oldest citizens (55 or older) were less aware of the security features of euro banknotes than the youngest ones (15-24 years-of-age). Fears about the changeover Price rounding and price conversions to euros: Price rounding brought relatively more worries to Cypriots and Maltese citizens than price conversions to euros. We noticed the same page 5

Flash EB N o 222 / 223 Euro Introduction in Cyprus / Malta, Citizen Survey The Gallup Organization thing in Slovenia in early 2007. In general, Cypriots were much more worried than the Maltese about both price conversions to euros and price rounding during and after the changeover to euros. Fear of inflation: While two-thirds of Cypriots (%) believed that the euro would increase inflation, just one-third of Maltese (37%) held this opinion. Half of Slovenian respondents (52%) held a similar opinion immediately after the euro s introduction in their country. Awareness of the euro itself Main information sources about the euro: When information sources mentioned in the first and second places were combined, we saw that 80% of Cypriots and 85% of Maltese citizens obtained information from the media. This compared to 89% of Slovenian citizens who obtained information from the media. The second most frequently used source of information in Cyprus and Malta were the commercial banks. Channels of information: Television was the most efficient source of information during the changeover period in both Cyprus (57% of citizens) and Malta (49%). The figures in Cyprus were similar to the ones we found in Slovenia, one year ago. In both Cyprus and Malta, the second most efficient source was that of publications &brochures, but it was mentioned in far lower proportions than television. Feeling informed about the euro: The vast majority of Cypriots (92%) and Maltese (91%) felt that they were well informed about the euro. A similar percentage was recorded in Slovenia: 92% of Slovenian citizens felt well informed about the euro in early 2007. Topics where more information was required: Two-fifths of Maltese respondents (44%) and almost one-fifth of Cypriots (18%) could not name any euro-related issue where they wanted more information. o Where information was required, both Cypriots (41%) and Maltese citizens (23%) would like to have more information (first and second choices combined) about fair price rounding. The second most important issue that the Cypriots would like more information about was how to avoid being cheated in euro currency conversions. Information from national authorities: Altogether, an overwhelming majority: nine out of 10 citizens in both countries (91%) were satisfied with the information provided by national authorities about the euro. Euro spots on TV: Roughly nine out of 10 Cypriots (90%) and Maltese (87%) had seen euro spots on TV. That made the euro spots awareness level much higher in Cyprus and Malta than it was in Slovenia (3%). Euro ads in national magazines and newspapers. Seven out of 10 Cypriots (72%) and Maltese citizens (9%) saw euro advertisements in national magazines and newspapers. In early 2007, just under two-thirds (2%) of Slovenians said they had seen similar ads. o The respondents from Cyprus aged 25-39 were the ones most likely to have seen the ads (79% vs. 72% average), while the oldest ones (55+) were the ones the least aware (0%). Use of the euro calculator: Nine out of 10 citizens in Malta (90%) and eight out of 10 in Cyprus (82%) said they had received the euro calculator. A year ago, 95% of Slovenians said they had received this tool. Over three-quarters of Cypriots (79%) and over two-thirds of Maltese (8%) who received such a euro calculator agreed that it was very useful. Summary, page

The Gallup Organization Flash EB N o 222 / 223 Euro Introduction in Cyprus / Malta, Citizen Survey 3. Personal experiences with the euro Ability to distinguish euro coins and euro banknotes: The respondents from Cyprus and Malta were asked how easy or difficult it was to distinguish and to handle euro banknotes and coins. At least three-quarters of the respondents from Cyprus and Malta said that they could easily distinguish both euro coins and euro banknotes. Eight out of 10 Cypriots (81%) found it easy to handle euro coins and three-quarters (75%) of the Maltese said the same. In early 2007, immediately after the introduction of the euro in Slovenia, twothirds (9%) of Slovenians were saying that it was easy for them to handle euro coins. Nearly all Cypriots (95%) said it was easy to distinguish euro banknotes, and 88% of the Maltese agreed. In early 2007, 91% of Slovenians said that it was easy for them to differentiate between the various banknotes. Accordingly, the Cypriots also had the least amount of trouble with banknotes, but this time followed by the Slovenians and then the Maltese. How easy or difficult is it to distinguish and manipulate euro cash Cyprus 13 Coins 4 0 Banknotes 1 3 01 1 24 51 30 71 Very easy Rather easy Neither easy nor difficult, normal Rather difficult Very difficult Q1. / Q2. When you pay cash, would you say that it is: very easy, rather easy, rather difficult or very difficult to distinguish and to manipulate euro coins / banknotes? page 7

Flash EB N o 222 / 223 Euro Introduction in Cyprus / Malta, Citizen Survey The Gallup Organization How easy or difficult is it to distinguish and manipulate euro cash Malta 18 Coins 3 0 2 Banknotes 20 9 3 3 51 37 39 Very easy Rather easy Neither easy nor difficult, normal Rather difficult Very difficult Q1. / Q2. When you pay cash, would you say that it is: very easy, rather easy, rather difficult or very difficult to distinguish and to manipulate euro coins / banknotes? Slovenia Coins 0 25 2 Banknotes 5 21 20 5 41 50 44 Very easy Rather easy Neither easy nor difficult, normal Rather difficult Very difficult Source: FLASH EB 205 January February 2007 Q1. / Q2. When you pay cash, would you say that it is: very easy, rather easy, rather difficult or very difficult to distinguish and to manipulate coins / banknotes? Looking at socio-demographic groupings, we saw in Cyprus that those who had the most difficulty in distinguishing and handling euro coins were more likely to be those aged 55 or over. Men and the youngest Cypriots were most comfortable with euro coins. In Malta, those aged over 55 were the least comfortable with euro coins. Currency used when making calculations while shopping The next question asked which currency the citizens of Cyprus and Malta used as a mental benchmark when: a) purchasing special products of greater value, i.e. cars or property; and b) making everyday purchases. A relative majority of Cypriots said they calculated, most frequently, in their old national currency for special purchases (40%) and in euros when it came to everyday shopping (44%). The same situation was found in Slovenia. Immediately after the euro s introduction, a majority of 47% of Slovenians were most frequently using the old national currency as a mental benchmark when buying products of a higher value, and a majority (50%) were calculating in euros for their day-to-day shopping. Summary, page 8

The Gallup Organization Flash EB N o 222 / 223 Euro Introduction in Cyprus / Malta, Citizen Survey Unlike Cypriots, and Slovenians in early 2007, the majority of Maltese most frequently counted and calculated in euros for special high-value purchases (40%, +7 percentage points compared to those who used their old national currency as a benchmark for this purpose) and for everyday shopping (52%, twice the number that used the old national currency when it came to day-to-day shopping). In both Cyprus and Malta, approximately a quarter of respondents (between 21% and 25%) used both euros and the old national currency as a mental benchmark for special purchases, as well as for day-today shopping. The most frequently used currency when counting and calculating... Most often in euros Most often in pounds As often in euros as in pounds... special purchases such as the purchase of goods with greater value 33 40 25 1 Cyprus... everyday purchases such as day-to-day shopping 44 31 24 0 Most often in euro Most often in lira As often in euro as in lira... special purchases such as the purchase of goods with greater value 40 33 24 3 Malta... everyday purchases such as day-to-day shopping 52 2 21 1 Q3. In which currency do you count or calculate most often when you do... Looking at socio-demographic groupings, we noticed some differences with regard to the currency used as a mental benchmark for special high value purchases. Among the age segments in Cyprus, we observed some unexpected results. The oldest Cypriots (55 years or older) were more likely than younger ones (aged 15 to 54 years-of-age) to use euros as a mental benchmark for special purchases, e.g. cars or property. In Malta, women compared to men, those aged 25-39 compared to the oldest were less likely to calculate in euros as a mental benchmark for special high-value purchases. A higher proportion of Maltese aged 15-39 years-of-age compared to oldest ones (55 years-of-age or older) said they used the old national currency as a mental benchmark for special high-value purchases. Converting from national currencies to euros In both Cyprus (83%) and Malta (73%), the majority of respondents said it was rather easy or very easy for them to convert from their old national currencies to euros. Almost eight out of 10 Slovenians (79%) said the same thing in early 2007, immediately after the euro s introduction. Almost twice as many Cypriots (51%) as Maltese (2%) found it very easy to convert from the old national currency to euros. Nearly a third of Slovenians (31%) said the same thing in early 2007. In Malta, we saw the highest percentage of respondents (20%) that said it was difficult for them to convert from their old national currency to euros. Fourteen percent of Cypriots said they had similar page 9

Flash EB N o 222 / 223 Euro Introduction in Cyprus / Malta, Citizen Survey The Gallup Organization problems. In Slovenia, in early 2007, 14% also said it was difficult to convert from the old national currency to euros. How easy or difficult is it to convert from tolar/pounds/lira to euros Cyprus Malta 2 12 20 Very easy Rather easy 17 3 1 2 51 Neither easy nor difficult, normal Rather difficult 32 Very difficult 47 Slovenia Q4. How easy or difficult is for you to convert from pounds/lira to euro? 12 2 1 31 Very easy Rather easy Neither easy nor difficult, normal Rather difficult Very difficult 48 Source: FLASH EB 205 January February 2007 Q4. How easy or difficult is for you to convert from Tolar to Euro? Recognising values in euros Eight out of 10 Cypriots (82%, 10 percentage points more than the Maltese) said they easily understood the values displayed in euro. Immediately following the changeover in Slovenia, threequarters of Slovenians (75%) said a similar thing. Using dual displays Three-quarters of Maltese (77%) and two-thirds of Cypriots (8%) found the dual displays of prices to be very useful. A considerably lower proportion of Slovenians, in early 2007, thought that the dual display of prices was very useful (47%). Overall, nine out of 10 respondents from Malta (91%) and eight out of 10 Cypriots (87%) found the dual display of prices to be very useful or rather useful. On the other hand, 8% of Maltese citizens and 12% of Cypriots found the dual display of prices to be rather not useful or not useful at all. Immediately after the euro s introduction in Slovenia, 82% of Slovenians found - in early 2007 - the dual display of prices to be useful, and 18% not useful. Euro coin starter kits Summary, page 10

The Gallup Organization Flash EB N o 222 / 223 Euro Introduction in Cyprus / Malta, Citizen Survey Almost half of Malta s citizens (48%) bought euro coins starter kits before January 1, 2008, while half (51%) did not. In Cyprus, only a third of respondents (32%) bought euro coins starter kits and twothirds (8%) did not. The proportions recorded in Cyprus were identical with those in Slovenia a year ago: a third of Slovenians (32%) bought euro coins starter kits before the introduction of the euro in their country on the January 1, 2007, while two-thirds did not (8%). Problems experienced at the time of the changeover Eight percent of respondents in Cyprus and 13% of Maltese respondents experienced difficulties in the first week of January when they wanted to exchange national currency (pounds/lira) into euros or wanted to withdraw euros at a bank. The large majority of the Cypriots (88%) and Maltese (85%) did not experience any problems. By comparison, a year ago, only 3% of Slovenian citizens experienced difficulties in the first week after the introduction of the euro in their country, and 9% of them did not have any problems. The Cypriot and Maltese respondents who reported problems were asked for further details and they could choose between several pre-coded answers. Over three-quarters of the citizens who experienced problems mentioned long queues at counters both in Cyprus (77%) and Malta (89%). The second most frequent problem was long queues at ATMs, mentioned by roughly one in five people who encountered difficulties (17% in Cyprus and 15% in Malta). Both in Cyprus and Malta, one in 10 people who experienced difficulties (11%) mentioned that there were not enough euros at bank counters. page 11

Flash EB N o 222 / 223 Euro Introduction in Cyprus / Malta, Citizen Survey The Gallup Organization Problems experienced when exchanging pounds/lira/tolars or withdrawing euros in the first week of January Cyprus Did you experience any problems? What kinds of problems did you experience? Long queues at counters 77 ; 4 Long queues at ATMs 17 No; 88 Yes; 8 ATMs were (temporarily) out of order Not enough euro cash available at bank counters 12 11 ATMs issued only pounds 7 Other 21 Malta Did you experience any problems? What kinds of problems did you experience? ; 2 Long queues at counters Long queues at ATMs 15 89 No; 85 Yes; 13 Not enough euro cash available at bank counters ATMs were (temporarily) out of order 7 11 ATMs issued only lira 1 Other 19 Q10. When you exchanged Lira cash into euro cash or withdrew euro cash with banks in the first week of January, did you experience any problems? Q11. What kind of problems did you experience? %, base: those who experienced any problem Slovenia Did you experience any problems? What kinds of problems did you experience? Long queues at counters 53 No, 9 DK/ NA, 1 Yes, 3 Not enough euro cash available at bank counters ATMs were (temporarily) out of order Long queues at ATMs 12 10 24 ATMs issued only tolar cash 7 Other 53 Source: FLASH EB 205 January February 2007 Q10. When you exchanged Tolar cash into euro cash or withdrew euro cash with banks in the first week of January, did you experience any problems? Q11. What kind of problems did you experience? %, base: those who experienced any problem Summary, page 12

The Gallup Organization Flash EB N o 222 / 223 Euro Introduction in Cyprus / Malta, Citizen Survey 4. Knowledge about the euro s security features Background Euro banknotes have several security features, which allow people to easily check if they are genuine notes. Due to the special printing procedure, the banknotes have a unique feel Held against the light, the watermark, the security thread and the see-through number become visible. The front and back, of a genuine banknote, feature all three security elements. Awareness of security features When asked to list the security features of the euro banknotes, the Maltese were the most unfamiliar with this issue compared to the Cypriots and Slovenians (one year ago). A quarter of the Maltese (25%) could not specify the security features of the euro banknotes, while only 15% of the Cypriots were in this situation. Immediately after the euro s introduction, 12% of the Slovenians could not name such features. Of the various security elements of the euro banknotes, the Cypriots were the most aware of the security thread (74%). Some way behind, four out of 10 Cypriots mentioned the watermark (45%) and gold-yellow stripe (43%). Looking at the results in Malta we noticed that although the same three security elements were mentioned most frequently, the order was different. The Maltese citizens mentioned the gold-yellow stripe in the highest numbers (40%), followed by the watermark (38%). page 13

Flash EB N o 222 / 223 Euro Introduction in Cyprus / Malta, Citizen Survey The Gallup Organization Familiarity with the security features of euro banknotes Security thread 74 Watermark Gold-yellow stripe Hologram Colour changing number 45 43 39 39 Cyprus See-through number 20 Other 3 15 0 20 40 0 80 100 Gold-yellow stripe Watermark 40 38 Security thread 31 Colour changing number Hologram See-through number 21 19 19 Malta Other 7 25 0 20 40 0 80 100 Q13. Which security features of euro banknotes can you list? Security thread 71 Watermark 0 Gold-yellow stripe 50 Colour changing number 41 See-through number Hologram 31 38 Slovenia Other 23 12 0 20 40 0 80 100 Source: FLASH EB 205 January February 2007 Q13. Which security features of euro banknotes can you list? Summary, page 14

The Gallup Organization Flash EB N o 222 / 223 Euro Introduction in Cyprus / Malta, Citizen Survey 5. Fears about the changeover Price rounding and price conversions to euros: Cypriot and Maltese respondents were asked about their fears related to price conversions to euros and the related price rounding during and after the changeover to the euro. Price rounding brought relatively more worries to the Cypriots and Maltese citizens than the price conversions to euros. We noticed the same thing in Slovenia in early 2007. In general, the Cypriots were much more worried than the Maltese about both price conversions to euros and price rounding during and after the changeover to euros. Four out of 10 Cypriots (42%) believed that during and after the changeover to the euro, unfair price conversions happened often or very often. Only 14% of the Maltese (28 percentage points less than the Cypriots) had a similar opinion. In this respect, the Cypriot respondents had a similar experience to the Slovenians: 41% of Slovenians were concerned in early 2007 (after the euro s introduction in their country) that price conversions would often or very often be unfair. Half (4%) of Cypriots were afraid that price rounding was unfair, whereas only 18% of the Maltese (again 28 percentage points less than the Cypriots) expressed the same worries. Compared to the results from Cyprus and Malta, a higher proportion of Slovenians mentioned that price rounding was often or very often unfair (59%). Fairness of price conversion to euros and price rounding Not at all Sometimes Often Very often Price conversion to euro was not fair 17 34 24 18 7 Cyprus Rounding of prices was not fair 13 35 24 22 Not at all Sometimes Often Very often Price conversion to euro was not fair 42 33 10 4 11 Malta Rounding of prices was not fair 35 39 12 9 Q14. Do you think that during and after changeover to euro it happened very often, often, sometimes or not at all, that... page 15

Flash EB N o 222 / 223 Euro Introduction in Cyprus / Malta, Citizen Survey The Gallup Organization Looking at socio-demographic groupings in Cyprus, we saw some variations within the age segments. The youngest Cypriots (15-24 years-of-age) more frequently mentioned that both price conversions to euros and price rounding were often or very often unfair during, or after, the changeover compared to the older ones (especially those aged 55 or over). In fact, we saw that the youngest respondents from Cyprus (5%) were more worried than all the other age segments about unfair price conversions to euros. The young Cypriots (aged 15-39) were more afraid (+/-50%) than the oldest (37%) about unfair price rounding. In Malta, we did not see important differences about respondents fears related to price conversions to euros and price rounding during and after the changeover to the euro. Concerned that...... price conversions to euros were unfair... price rounding was unfair Total Gender Male Female Age 18 1 19 42 39 45 % of very often and often % of very often Total Gender Male Female Age 22 22 21 4 45 47 15-24 23 5 15-24 24 54 25-39 40-54 55+ Subjective urbanisation In an urban area In the rest of the country Occupation Self-employed Employees Manual workers Not working 1 19 14 20 13 17 1 19 19 41 40 3 44 39 3 40 40 4 25-39 40-54 55+ Subjective urbanisation In an urban area In the rest of the country Occupation Self-employed Employees Manual workers Not working 25 22 17 23 19 18 22 22 22 50 45 37 4 45 38 47 45 47 Cyprus Fear of inflation: Q14. Do you think that during and after changeover to euro it happened very often, often, sometimes or not at all, that... ; by demography While two-thirds of Cypriots (%) believed that the euro would increase inflation, just one-third of Maltese citizens (37%) held this opinion. Half of Slovenian respondents (52%) held a similar opinion immediately after the euro s introduction in their country. Sixteen percent of Cypriots believed that the euro would help price stability to be maintained, and 28% (12 percentage points more than the Cypriots) of Maltese citizens agreed with that opinion. A higher proportion of Slovenians said, in early 2007, that the introduction of the euro in their country would help price stability to be maintained (35%). Summary, page 1

The Gallup Organization Flash EB N o 222 / 223 Euro Introduction in Cyprus / Malta, Citizen Survey. Sources used to become aware of the euro Respondents in Cyprus and Malta were asked about the information sources that they used most frequently to find out about the euro and its pending introduction. After combining information sources mentioned in the first and second places, we saw that eight out of 10 Cypriot citizens (80%) and 85% of Maltese citizens obtained information related to the introduction of the euro from the media. This compared to 89% of Slovenian citizens. Six out of 10 respondents from Cyprus (0%) and Malta (4%) mentioned the media as their primary source of information; the same was true for 72% of Slovenian citizens early in 2007. The second most frequently used source of information about the euro s introduction in Cyprus and Malta were the commercial banks. Sources of information about the euro s introduction Cyprus Media 0 80 Commercial banks 15 43 National Central Bank 10 21 Government, national or regional authorities 15 Consumer associations Public administration European Institutions 1 5 1 3 1 3 In total Firstly Trade unions, professional organisations, etc... 0 2 Others 3 3 7 0 20 40 0 80 100 Malta Media 4 85 Commercial banks 8 22 Government, national or regional authorities National Central Bank 4 3 12 11 European Institutions Public administration Consumer associations 2 8 2 2 3 In total Firstly Trade unions, professional organisations, etc... 01 Others 5 11 23 0 20 40 0 80 100 Q15. Where do (did) you get information about the introduction? Firstly? And secondly? page 17

Flash EB N o 222 / 223 Euro Introduction in Cyprus / Malta, Citizen Survey The Gallup Organization Slovenia Media 72 89 Commercial banks National Central Bank 9 23 21 Government, national or regional authorities 4 13 Public administration Consumer associations Trade unions, professional organisations, etc European Institutions 2 5 1 5 1 3 1 1 In total Firstly Others 3 1 17 0 20 40 0 80 100 Source: FLASH EB 205 January February 2007 Q15. Where do (did) you get information about the introduction? Firstly? And secondly? Channels of information Television was the most efficient source of information during the changeover period in both Cyprus (selected by 57% of citizens) and Malta (49%). The figures in Cyprus were similar to the ones we found in Slovenia, one year ago: 58% of Slovenians chose television as the most efficient channel of information during the changeover. In both Cyprus and Malta, the second most efficient source was that of publications &brochures, but it was mentioned in far lower proportions than television. Two out of 10 Maltese citizens (22%) and one in 10 Cypriots (11%) selected publications & brochures. In early 2007, 11% of Slovenians chose publications & brochures as their most efficient source of information during the changeover period; - in third place behind print media. Feeling informed about the euro The vast majority of Cypriots (92%) and Maltese (91%) felt that they were well informed about the euro. A similar percentage was recorded in Slovenia: 92% of Slovenian citizens felt well informed about the euro in early 2007. Half of the respondents from Cyprus and Malta (52% each) considered themselves very well informed about the euro. This compared to roughly one-third of Slovenians (3%; 1 percentage points lower than the Cypriots and Maltese) who said in early 2007that they were very well informed about the euro. Summary, page 18

The Gallup Organization Flash EB N o 222 / 223 Euro Introduction in Cyprus / Malta, Citizen Survey Cyprus Feeling informed about the euro Malta 7 1 0 1 2 Very well informed Rather well informed 40 52 Not very well informed Not at all well informed 39 52 Q17. To what extent do you feel informed about the euro? Do you feel... : Slovenia 7 1 0 Very well informed 3 Rather well informed Not very well informed Not at all well informed 5 Source: FLASH EB 205 January February 2007 Q17. To what extent do you feel informed about the euro? Do you feel... : Analysing the socio-demographic groupings, we noticed some variations in the way that Cypriots felt about being informed about the euro. Overall, half (52%) of the Cypriots felt very well informed about the euro. The most likely to feel very well informed were men and the self-employed (both 2%). Other groups that were very well informed, were those in the middle age categories (55-57%), those living in an urban area (55%) and employees (59%). In Malta, compared to the average of those feeling very well informed (52%), middle-aged Maltese (40-54 years-of-age, 0%) and the self-employed (8%) were the most likely to consider themselves very well informed about the euro. page 19

Flash EB N o 222 / 223 Euro Introduction in Cyprus / Malta, Citizen Survey The Gallup Organization Feeling informed about the euro Very well inform ed Rather well informed Not very & not at all informed Cyprus Total Gender Male Female Age 15-24 25-39 40-54 55+ Subjective urbanisation In a n urban a rea In the rest of the country 43 52 2 43 55 57 48 55 45 47 40 32 52 40 35 37 38 4 8 10 5 7 15 8 9 Occupation Self-employed Employees Manual workers Not working 40 2 59 72 48 32 3 15 5 13 12 h d f li f d b h f l Very well informed Rather well informed Not very & not at all informed Total Gender Male Female Age 15-24 25-39 40-54 55+ Subjective urbanisation In Malta In Gozo, Comino, Manoel Occupation Self-employed Employees Manual workers Not working Malta Topics where more information was required 52 53 52 53 48 0 50 52 55 8 5 50 49 39 39 38 39 45 35 38 39 32 38 41 40 28 7 9 7 5 11 7 12 2 4 9 Q17. To what extent do you feel informed about the euro? Do you feel... :, by demography The survey also asked Cypriot and Maltese citizens about the first and second most important issues related to the euro about which they would like to have more information. As many citizens were confident in there knowledge about the euro, two-fifths of Maltese respondents (44%) and almost onefifth of Cypriots (18%) could not name any euro-related issue where they wanted more information. Where information was required, both Cypriots and Maltese citizens would like to know more (first and second choices combined) about fair price rounding. In total, four out of 10 Cypriots (41%) and two out of 10 Maltese (23%; 18 percentage points less than the Cypriots) said they would like more information about the fair price rounding. Immediately after the euro s introduction in Slovenia, a quarter of Slovenians (2%) held the same opinion. Summary, page 20

The Gallup Organization Flash EB N o 222 / 223 Euro Introduction in Cyprus / Malta, Citizen Survey The second most important issue that the Cypriots would like more information about was how to avoid being cheated in euro currency conversions. A third of Cypriot citizens (33%) mentioned it as the first or second issue where they wanted more information and 14% of them selected it as their primary concern. Most important euro-related issue about which respondents would like more information Cyprus Fair rounding 22 41 How to avoid being cheated in euro currency conversions 14 33 The social, economic or political implications of the euro 12 23 Security features 12 23 The dual display of prices The practical implications of the euro regarding your salary, your bank account... 9 20 13 In total Firstly The value of one euro in pounds 4 12 The design and denominations of euro banknotes and coins 2 5 18 0 20 40 0 80 100 Malta Fair rounding 8 23 How to avoid being cheated in euro currency conversions Security features 9 10 23 21 The value of one euro in Lira The dual display of prices The practical implications of the euro regarding your salary, your bank account... The social, economic or political implications of the euro The design and denominations of euro banknotes and coins 8 17 8 17 5 11 5 10 2 5 44 In total Firstly 0 20 40 0 80 100 Q18. What is the most important issue about the euro that you would like to have more information on? Firstly? And secondly? page 21

Flash EB N o 222 / 223 Euro Introduction in Cyprus / Malta, Citizen Survey The Gallup Organization Fair rounding 14 2 Security features 17 25 The social, economic or political implications of the euro How to avoid being cheated in euro currency conversions 15 23 The dual display of prices The practical implications of the euro regarding your salary, your bank account 10 10 11 18 18 17 In total Firstly The value of one euro in tolars 4 8 The design and denominations of euro banknotes and coins 2 4 17 0 20 40 0 80 100 Source: FLASH EB 205 January February 2007 Q18. What is the most important issue about the euro that you would like to have more information on? Firstly? And secondly? Information from the national authorities Just under two-thirds (0%) of Maltese and half (48%) of Cypriots were very satisfied with the information provided by their national authorities regarding the euro, and a further third (31%) of citizens in Malta and 43% in Cyprus were rather satisfied in this respect. Altogether, an overwhelming majority: nine out of 10 citizens in both countries (91%) were satisfied with the information provided by national authorities about the euro. Only % of citizens in Malta and 8% in Cyprus said that they were very or rather unsatisfied with the information provided on the subject. Compared to the satisfaction levels recorded in Slovenia at the introduction of the euro a year ago, we observed that Maltese and Cypriots were more satisfied with the information they received about the euro compared to the Slovenians. In Slovenia only 21% of the public said they were very satisfied compared to 0% in Malta and 48% in Cyprus. However, a total of 87% of Slovenians were very or rather satisfied with the information about the euro they received from their national authorities, which was close to the overall satisfaction recorded in Malta and Cyprus (91%). Euro spots on TV Roughly nine out of 10 Cypriots (90%) and Maltese (87%) had seen euro spots on TV, and only one in 10 had not seen such spots (9% in Cyprus and 12% in Malta). That made the euro spots awareness level much higher in Cyprus and Malta than it was in Slovenia at the euro s introduction. Just twothirds (3%) of Slovenians had seen euro spots on television, while one-third (33%) had not seen them at the time of the euro s introduction. Euro ads in national magazines and newspapers Seven out of 10 Cypriots (72%) and Maltese citizens (9%) saw euro advertisements in national magazines and newspapers. A quarter of Cypriots (25%) and 29% of Maltese had not seen such ads. In early 2007, just under two-thirds (2%) of Slovenians said they had seen similar ads in Slovenian magazines, and a third (3%) had not. Among those who saw euro ads in magazines/newspapers, two-thirds (9% in Cyprus and 5% in Malta) found them to be very useful. Furthermore, a quarter (24% in Cyprus and 28% in Malta) found Summary, page 22

The Gallup Organization Flash EB N o 222 / 223 Euro Introduction in Cyprus / Malta, Citizen Survey them to be rather useful. Overall, both in Cyprus and Malta nine out of 10 citizens who had seen such ads in magazines (93%) considered them to be useful. Use of the euro calculator Nine out of 10 citizens in Malta (90%) and eight out of 10 in Cyprus (82%) said they had received the euro calculator, while 9% of Maltese and 18% of Cypriots said they did not get one. A year ago, 95% of Slovenians said they had received the euro calculator tool. Over three-quarters of Cypriots (79%) and over two-thirds of Maltese (8%) who received such a euro calculator agreed that it was very useful. Furthermore, 12% of Cypriots and 11% of Maltese citizens said that the received euro calculator was rather useful. Overall, nine out of 10 Cypriots who received a euro calculator (91%) and eight of 10 Maltese (79%) considered the calculator to be useful. The usefulness of the euro calculator Cyprus Have you received the the euro calculator? How useful did you find it? 12 253 Not useful at all No; 18 Yes; 82 79 Rather not useful Rather useful Very useful Malta DK/ NA; 1 No; 9 Have you received the the euro calculator? Yes; 90 How useful did you find it? 7 9 5 11 Not useful at all 8 Rather not useful Rather useful Very useful Q22. Have you received the euro calculator? Q22a. How useful did you find it? %, base: those who received the euro calculator page 23

Flash EB N o 222 / 223 Euro Introduction in Cyprus / Malta, Citizen Survey The Gallup Organization Have you received it? Slovenia How useful did you find it? 3 14 11 Not useful at all No; 5 Yes; 95 31 Rather not useful 41 Rather useful Very useful Source: FLASH EB 205 January February 2007 Q22. Have you received the euro calculator? Q22a. How useful did you find them? %, base: those who received the euro calculator Summary, page 24