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    Abandoning Euro Could Boost Competitiveness of EU – French Lawmaker

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    Returning to national currencies from the euro would make EU member states more competitive, Bernard Monot, a European Parliament member from France, told Sputnik on Tuesday.

    MOSCOW (Sputnik), Yulia Shamporova — An ICM Research survey, conducted exclusively for Sputnik, and released earlier in the day, revealed that about one third of French, German and Greek citizens polled wanted to revive national currencies amid the current euro currency crisis.

    "This will help countries to rediscover their liberty and to enter the competitive level like all the countries with economic power," Monot, the chief economist of the right-wing National Front party, said.

    He said that such a move would be a logical response to the economic crisis in Greece and Europe in general.

    Monot suggested that it was important for individual countries to exercise "intelligent protectionism" by controlling their own capital movement, markets, services and immigration.

    The euro, the single currency for more than 300 million people across Europe, was launched January 1, 1999. At the time it was used only in electronic payments.

    Three years later, in 2002, euro cash replaced banknotes and coins of many member state national currencies.

    Recently, the euro has lost value against the dollar, sinking to a 12-year low in March. The deepening of the Greek monetary crisis is considered to be a factor behind the devaluation.

    Over half of those polled by ICM Research in the three European countries, 53 percent, said they wanted to continue using the euro.

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    competitiveness, euro, National Front, ICM Research, Bernard Monot
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