Political and Social Effects of the Introduction of the Euro in France and Germany

Abstract

The article presents the experience gained by Germany and France in
connection with the introduction of the common currency and its implications
for Poland. The author briefly describes the route of Germany and France
to the euro. Next, she discusses political and social results of the substitution
of the mark and the franc by the euro, i.e. on the one hand an issue of
national sovereignty, democratic legitimization and deficit, Europeanization
of policies, elites and political institutions and the increase in the role of
the European Union in the world, on the other hand modification of the
European social model, sense of collective deprivation, mental and behavioral
change, strengthening of the European identity and practical adjustments.
The author comments on the issue of real inflation and that perceived by
the German and French societies and she presents the results of the research
into the social attitudes towards the euro at that time. She proves that the
pessimistic predictions that the Germans and French would have great
problems with the substitution of their national currencies by a common one
failed to materialize. The article ends with an assessment of the use of the
common currency so far and gives recommendations for Poland.