The role of the Euro in strenghtening the European identity

Abstract

In the history of Europe, there are only a few symbols that are common to all 27 EU countries: the Greek and Roman legacy, a common Christian religion, a shared bulk of common values and beliefs. The paper evaluates if Euro as a common currency should be considered as a symbol who may contribute to the European construction process and the role of symbols in the consolidation of a European collective identity. Our hypothesis is that the existence of a bulk of common symbols - among which the Euro currency is one of the most visible, shared widely by EU citizens - will consolidate the process of European construction. The lack of a common identity is often used by extremist parties as an argument in favor of Euro-pessimism and a return to nation state welfare. Our paper highlights the subtle links between money, collective identity and European integration. The results show a link between the rise of awareness concerning a European identity and the adoption of Euro. Fostering European symbols such as a single currency is contributing to create the conditions that allow the emergence of a sense of collective belonging, the European common identity.