Dual circulation period in Slovakia

Flash Eurobarometer 255 The Gallup Organization Analytical Report Flash Eurobarometer European Commission Dual circulation period in Slovakia Analytical report Fieldwork: uary 2009 Report: March 2009 This survey was requested by DG ECFIN-R-4: External Communication 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. page 1

Analytical Report Flash EB Series #255 Dual circulation period in Slovakia Conducted by The Gallup Organization, Hungary upon the request of the DG ECFIN-R-4: External Communication 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. THE GALLUP ORGANIZATION page 2

Analytical Report Table of contents Table of contents... 3 Introduction... 4 1. Prior to Slovakia s -day... 6 2. Slovakia s -day and beyond... 7 2.1 Euros in circulation how it evolved... 7 2.2 National euro coins vs. those from other Member States... 9 2.3 Cash payments euros vs. korunas... 10 2.4 Monetary change received in the changeover period... 11 2.5 Experience at the banks and at cash dispensers... 12 3. tables... 14 4. Survey details... 24 5. Survey questionnaire... 26 5.1 On 29 December 2008... 26 5.2 1 uary 2009 and onwards:... 28 page 3

Analytical Report Introduction The European Commission requested a Flash Eurobarometer study to monitor the progress of Slovakia s changeover to the euro during the 16-day dual circulation period. Nine waves of measurements were conducted from 29 December 2008 until 15 uary 2009, with the following questions being presented: Questions asked on 29 December 2008: Q1. What is the approximate duration of the period during which both the Slovak koruna and the euro will be accepted for cash payments in the shops? less than a week / 1 week / 2 weeks / 3 weeks / 4 weeks / More than 4 weeks Q2. Do you currently have euro banknotes? Yes / No / [DK/NA] IF THE ANSWER IS YES Q3. Where did you get them from? a) From a trip abroad b) From an exchange in a bank in Slovakia c) From a cash transaction done in Slovakia d) Other Yes / No / [DK/NA] Q4. Do you currently have euro coins? Yes / No / [DK/NA] IF THE ANSWER IS YES Q5. Where did you get them from? a) From a trip abroad b) From an exchange in a bank in Slovakia c) From a cash transaction done in Slovakia d) From a starter kit e) Other Yes / No / [DK/NA] Q6. If you have bought a euro starter kit, what do you intend to do with it? I intend to open it and start using the coins on 1 uary / I intend to keep it / I have bought several kits: I will use some and keep the other(s) / I have not bought a mini kit page 4

Analytical Report Questions asked from 1 uary 2009 through 15 uary 2009: Q1. What kind of banknotes do you have with you today (in your wallet, in your pocket etc...)? only koruna / mostly koruna / mostly euro / only euro? / [DK/NA] Q2. What kind of coins do you have with you today (in your wallet, in your pocket etc...)? only Slovak coins / mostly Slovak coins / mostly euro coins / only euro coins? / [DK/NA] [IF HAS EURO COINS:] Q3. Regarding the euro coins you have, are they? only Slovak euro coins / mostly Slovak euro coins / mostly other euro coins / only other euro coins? / [DK/NA] Q4. Which currency did you use for your last cash payment today? korunas / a mix of korunas and euro / euro / [I paid with a card] / [I did not buy anything today] [DK/NA] Q5. If you made a purchase in cash, in which currency did you receive change in this transaction? in korunas / in a mix of korunas and euro / in euro / [did not receive change] / [DK/NA] Q6. Have you experienced any problem when exchanging / withdrawing money in a bank today? Yes, I had to wait longer than usual / Yes, I had to visit several branches to avoid long waiting lines / I experienced a problem of another kind (e.g. the staff was not able to reply to my questions) / No, I did not experience any problem / I did not go to a bank today The dates of the fieldwork and the respective sample sizes were as follows (the target was 333 interviews per day): Date N = 29 December 336 01 uary 341 02 uary 336 03 uary 336 05 uary 336 07 uary 336 10 uary 338 13 uary 336 15 uary 336 Interviews were conducted via fixed-line and mobile telephones. The daily results were weighted to control socio-demographic composition of the samples for age, sex, region, and economic activity. The survey was coordinated by Gallup and carried out by FOCUS Slovakia. page 5

Analytical Report 1. Prior to Slovakia s -day Based on the results of the first measurement, it appeared that the overwhelming majority, three quarters counted on two weeks (or even less) of dual circulation in which to spend their korunas. Nevertheless, relatively high proportion of Slovaks were not aware that the dual circulation period would only last for about two weeks*: 14% believed they had three weeks to conclude the changeover, 7% simply did not know, and 4% expected a dual circulation period lasting even more than three weeks. Assumed duration of the dual circulation (%, among the 15+ population) 1 week 3 2 weeks 71 3 weeks 14 4 weeks More than 4 weeks 2 2 DK/NA 7 C About half of the citizens already had some euro banknotes in their possession, typically from trips abroad, but many (about four in 10 of those who indicated they had banknotes) had exchanged money in commercial banks, too. Possession of banknotes No; 51 (%, among the 15+ population) Yes; 49 Possession of coins More respondents, about (%, among the 15+ population) six in 10, had some euro coins. Four in 10 Slovaks indicated that they purchased a starter No; 40 kit, mainly for practical Yes; 60 purpose -- 53% of those who said they had some coins confirmed that (at least partly) they came from a starter kit. One in 16 (6%) of the people surveyed purchased (some) starter kit(s) as a collector s item, and half of them even bought several kits, some of which they intended to open. Origin of euro banknotes From a trip abroad From an exchange in a bank in Slovakia From a cash transaction done in Slovakia Other Origin of euro coins From a trip abroad From an exchange in a bank in Slovakia From a cash transaction From a starter kit Other Euro starter kits 7 5 Have not bought a mini kit Have bought a mini kit (%, among those who possess euro banknotes) 12 17 17 39 (%, among those who possess euro coins) 42 40 56 53 (%, among the 15+ population) 58 *In fact, the dual circulation period started on the 1 st of uary and concluded on the 16 th. I intend to open it and start using the coins on 1 uary I intend to keep it Several kits: I will use some and keep the other(s) 3 3 34 page 6

Analytical Report 2. Slovakia s -day and beyond 2.1 Euros in circulation how it evolved At the start of the dual circulation period, about six to seven in ten (depending if we speak about coins or banknotes) had some euro cash in their possession, and about a quarter of those interviewed indicated that they were mostly or only carrying euros. Cash in possession BANKNOTES 100 2 6 19 22 25 75 26 45 25 70 73 36 31 89 50 36 33 31 25 28 35 21 28 19 16 22 12 6 2 6 9 0 31 1 uary 1 uary 2 uary 3 uary 5 uary 7 uary 10 uary 13 uary 15 DK/NA only euro mostly euro mostly korunas only korunas COINS 100 3 5 14 27 75 26 31 45 34 64 75 36 86 50 32 34 28 37 25 27 24 32 26 21 21 11 7 7 12 0 4 4 31 1 uary 1 uary 2 uary 3 uary 5 uary 7 uary 10 uary 13 uary 15 DK/NA only euro coins mostly euro coins mostly Slovak coins only Slovak coins Q1. What kind of banknotes do you have with you today (in your wallet, in your pocket etc.)? Q2. What kind of coins do you have with you today (in your wallet, in your pocket etc.)? % by day However, just one week after the euro was introduced (uary 7) the euro had really started to be the citizens primary currency (45% only had euro banknotes and coins); three days later (on the 10 th ), a decisive majority only carried euro cash. The proportion of those having only or mostly koruna cash dropped continuously throughout uary; on the tenth day of dual circulation, the changeover was practically complete. The results were more polarised as far as banknotes were concerned: at the beginning koruna notes were over-represented in Slovak wallets compared to coins and the opposite was seen towards the end of the process: more people only had euro banknotes, in comparison to the situation with euro coins. However, just 24 hours before the end of the dual circulation period, about one in 10 Slovaks still carried coins and banknotes of their outgoing currency. The tables below give some background to the slight differences as to how fast the various sociodemographic segments adapted to the change. Obviously, the relatively low daily sample sizes make these analyses susceptible to sampling error, but the data still provides some interesting indications. page 7

Analytical Report The demography of change I.- Slovakia % possessing mostly or only euro banknotes 1 2 Age 15-29 26 30 47 59 76 92 97 99 3 5 7 10 13 15 30-49 20 32 50 53 81 92 94 96 50+ 26 35 37 56 70 88 94 97 Urbanisation in an urban area 25 37 52 64 81 93 98 97 in the rest of the country 23 26 35 47 70 89 92 97 The demography of change II.- Slovakia % possessing mostly or only euro coins 1 2 Age 15-29 31 26 55 68 87 90 96 98 3 5 7 10 13 15 30-49 21 41 50 57 83 90 97 97 50+ 36 41 41 64 78 85 94 98 Urbanisation in an urban area 34 40 51 67 85 89 98 98 in the rest of the country 22 33 45 58 80 87 94 97 Regarding the major age groups, the trend was mixed. A slight pattern that could be determined from the data above is that the youngest age group (aged 15-29) adapted the quickest while the older people seemed to take more time to spend their Slovak koruna cash. It took about 10 days for the various age segments to come together so that they all consistently possessed a similar level of euros: both banknotes and coins. On the other hand, urbanisation was a key factor in the speed of the changeover: those living outside the larger urban centres were less likely to have euro cash (especially coins) on the day of the changeover, and this consistent difference compared to urban dwellers - remained throughout the measurement period, until the last day of the study. The initial gap between urban and non-urban residents possession of euro banknotes even increased during the first week of dual circulation page 8

Analytical Report 2.2 National euro coins vs. those from other Member States The vast majority of the euro coins carried by the people interviewed during the changeover period were bearing Slovak national sides; about eight in 10 citizens indicated that all or most of their coins were Slovak ones. However, almost a third of those who had euro coins possessed some with a non- Slovak national design: most of them probably acquired them abroad or at a national bank prior to the changeover date. The proportion of those with Slovak euro coins peaked on the first regular business days of the year i.e. uary 5 and uary 7, hinting that - in this period: a) many people could have started using freshly obtained coins (e.g. by opening a starter kit, or by exchanging money at banks) and b) starting this week, most businesses were already providing their customers with euro change (see more about this aspect later). At the end of the study (one day prior to the end of the dual circulation period) the absolute majority of Slovak respondents were in the Slovak-dominated mixed coin category, indicating that they primarily possessed euro coins with Slovak national sides, but that they also had some coins from other Member States. Interestingly, even at that time, we found one in eight (13%) of respondents who indicated that they only had non-slovak euro coins in their possession. National euro coins 100 75 50 25 0 7 6 5 4 5 2 5 8 10 13 8 13 16 9 2 24 43 37 53 44 41 47 49 43 47 49 37 27 20 36 39 37 uary 1 uary 2 uary 3 uary 5 uary 7 uary 10 uary 13 uary 15 DK/NA only other euro coins mostly other euro coins mostly Slovak euro coins only Slovak euro coins Q3. Regarding the euro coins you have, are they...? % by day page 9

Analytical Report 2.3 Cash payments euros vs. korunas New Year s Day was, of course, a holiday in Slovakia, and many citizens only returned to work on uary 5. The first day of dual circulation did not, therefore, pose a significant challenge to the retail sector as most Slovaks did not spend any money. The fact that the vast majority of those who had expenditures, almost exclusively used korunas. From the perspective of the euro, therefore, this day belonged to 2008 rather than to 2009. Starting from uary 2, we found that between 60% and 70% of respondents bought something on the day of the interview (hereafter called shoppers ). Cash payments ALL RESPONDENTS 100 30 27 43 37 32 30 75 42 79 50 10 17 30 3 45 5 4 58 43 63 25 1 0 43 39 5 32 20 20 3 9 2 7 2 1 0 uary 1 uary 2 uary 3 uary 5 uary 7 uary 10 uary 13 uary 15 DK/NA I did not buy anything today I paid with a card euro a mix of korunas and euro korunas WHO PAID IN CASH 100 1 5 18 27 6 75 46 8 64 50 78 6 93 87 96 77 64 8 25 48 5 28 16 3 10 2 2 0 uary 1 uary 2 uary 3 uary 5 uary 7 uary 10 uary 13 uary 15 DK/NA euro a mix of korunas and euro korunas Q4. Which currency did you use for your last cash payment today? % by day The proportion of shoppers paying in cash with korunas decreased progressively during the changeover period. The survey first recorded a larger share of euro-only cash payments on uary 7 and one day before the end of the changeover period only a few Slovaks were using korunas to pay for goods and services. Payments in mixed currencies (korunas and euros combined) were infrequent throughout the changeover period. No more than 8% of all purchases were made with a mixture of currencies on any given day throughout the entire dual circulation period. These figures were in line with the previous changeovers in Slovenia, Cyprus and Malta. page 10

Analytical Report 2.4 Monetary change received in the changeover period While businesses were expected to give change in euros immediately after the start of the dual circulation period, many Slovak companies were apparently not ready to do this. In addition to businesses that remained closed throughout the dual circulation period and therefore did not play a part in supplying the population with the new currency, those shops that were open for business were also slower than those in the previous examples of post-2002 changeovers to become fully operational in euros (such comparisons are available in the Executive Summary of this study). Change received ALL RESPONDENTS 100 75 50 25 0 12 13 8 8 3 2 2 1 34 70 86 88 95 94 97 99 55 4 14 61 31 12 21 1 uary 1 uary 2 uary 3 uary 5 uary 7 uary 10 uary 13 uary 15 DK/NA Did not receive change In euro In a mix of korunas and euro In korunas WHO RECEIVED CHANGE 100 75 50 25 0 38 80 93 96 97 96 99 100 62 4 16 61 31 12 21 1 uary 1 uary 2 uary 3 uary 5 uary 7 uary 10 uary 13 uary 15 DK/NA In euro In a mix of korunas and euro In korunas Q5. If you made a purchase in cash, in which currency did you receive change in this transaction? % by day It is probably no surprise that businesses were not yet prepared on New Year s Day to provide change in euros. On the 2 nd of uary in 16% of purchases where change was given, it was provided in korunas only. The proportion of cash transactions with change given in Slovak koruna fell to 3% on the 5 th and it equalled zero on the 13 th of uary. page 11

Analytical Report 2.5 Experience at the banks and at cash dispensers Throughout the measurement period, a very small fraction of respondents in the daily samples used bank or ATM services. The number of people, therefore, who confirmed that they used such services remained very low in the survey sample. This ruled out the possibility of meaningful statistical analysis. In general, the chart below shows that the problems with banks and ATMs were not widespread. The survey designed to follow up the changeover (Flash Eurobarometer 259) will provide more information on this topic. Change received 100 DK/NA 75 Did not go to a bank today 50 25 0 85 85 86 84 83 98 94 90 13 15 11 13 15 2 5 9 uary 1 uary 2 uary 3 uary 5 uary 7 uary 10 uary 13 uary 15 Experienced a problem of another kind Yes, had to visit several branches to avoid long Yes, had to wait longer than usual No, did not experience any problem Q6. Have you experienced any problem when exchanging / withdrawing money in a bank today? % by day page 12

Flash EB Series #255 Dual circulation period in Slovakia Tables & Survey Details page 13

3. tables Table 1. Duration of the dual circulation (29 December 2008)... 15 Table 2. Possession of banknotes (29 December 2008)... 15 Table 3. Origin of euro banknotes (29 December 2008)... 16 Table 4. Possession of coins (29 December 2008)... 16 Table 5. Origin of euro coins (29 December 2008)... 17 Table 6. Euro starter kit (29 December 2008)... 17 Table 7. Banknotes in possession (01-15 uary 2009)... 18 Table 8. Coins in possession (01-15 uary 2009)... 18 Table 9. Euro coins (01-15 uary 2009)... 19 Table 10. Currency of cash payments (01-15 uary 2009)... 19 Table 11. Currency of change received payments (01-15 uary 2009)... 20 Table 12. Experienced problems when exchanging / withdrawing money (01-15 uary 2009)... 20 Table 13. Age of respondent (29 December 2008-15 uary 2009)... 22 Table 14. Level of urbanisation (29 December 2008-15 uary 2009)... 22 Table 15. Activity of respondents (29 December 2008-15 uary 2009)... 23 Table 16. Sex of respondent (29 December 2008-15 uary 2009)... 23 page 14

Table 1. Duration of the dual circulation (29 December 2008) Question Q1. What is the approximate duration of the period during which both the Slovak koruna and the euro will be accepted for cash payments in the shops? DAY OF INTERVIEW SLOVAKIA Dec 29 N= 336 Less than a week 0 1 week 2,8 2 weeks 71,2 3 weeks 14,5 4 weeks 2,1 More than 4 weeks 2,2 DK/NA 7,2 Table 2. Possession of banknotes (29 December 2008) Question Q2. Do you currently have euro banknotes? DAY OF INTERVIEW SLOVAKIA Dec 29 N= 336 Yes 48,7 No 51,3 DK/NA 0 page 15

Table 3. Origin of euro banknotes (29 December 2008) Question Q3. Where did you get them from? Basis: those who had euro banknotes % Yes shown DAY OF INTERVIEW SLOVAKIA Dec 29 N= 164 From a trip abroad 55,6 From an exchange in a bank in Slovakia 38,8 From a cash transaction done in Slovakia 7,2 Other 17 Table 4. Possession of coins (29 December 2008) Question Q4. Do you currently have euro coins? DAY OF INTERVIEW SLOVAKIA Dec 29 N= 336 Yes 59,8 No 39,9 DK/NA 0,3 page 16

Table 5. Origin of euro coins (29 December 2008) Question Q5. Where did you get them from? Basis: those who had euro coins % Yes shown DAY OF INTERVIEW SLOVAKIA Dec 29 N= 201 From a trip abroad 42,4 From an exchange in a bank in Slovakia 16,6 From a cash transaction done in Slovakia 4,9 From a starter kit 52,9 Other 11,6 Table 6. Euro starter kit (29 December 2008) Question Q6. If you have bought a euro starter kit, what do you intend to do with it? DAY OF INTERVIEW SLOVAKIA Dec 29 N= 336 I intend to open it and start using the coins on 1 uary 33,7 I intend to keep it 3,1 I have bought several kits: I will use some and keep the other(s) 2,6 I have not bought a mini kit 58,0 DK/NA 2,5 page 17

Table 7. Banknotes in possession (01-15 uary 2009) Question Q1. What kind of banknotes do you have with you today (in your wallet, in your pocket etc.)? DAY OF INTERVIEW SLOVAKIA 1 2 3 5 7 10 13 15 N= 341 336 336 336 336 338 336 336 only korunas 35,2 28,0 19,2 11,9 5,5 2,2 0,5 0,9 mostly korunas 36,0 36,4 33,4 28,2 15,6 6,0 3,2 1,3 mostly euro 21,7 26,1 25,1 30,5 30,9 21,1 22,0 8,5 only euro 2,3 6,0 19,1 25,3 44,8 69,5 72,9 88,5 DK/NA 4,7 3,5 3,2 4,2 3,2 1,2 1,4 0,8 Table 8. Coins in possession (01-15 uary 2009) Question Q2. What kind of coins do you have with you today (in your wallet, in your pocket etc.)? DAY OF INTERVIEW SLOVAKIA 1 2 3 5 7 10 13 15 N= 341 336 336 336 336 338 336 336 only Slovak coins 32,4 26,3 21,4 7,4 4,1 4,3 0,5 1,1 mostly Slovak coins 31,8 34,0 27,5 26,9 10,9 6,5 2,9 0,5 mostly euro coins 25,9 31,3 33,9 36,4 37,4 24,2 21,1 11,6 only euro coins 3,4 5,2 14,2 26,7 45,1 64,1 74,7 86,2 DK/NA 6,4 3,3 3,1 2,6 2,3 1,0 0,8 0,7 page 18

Table 9. Euro coins (01-15 uary 2009) Question Q3. Regarding the euro coins you have, are they.? Basis: those who had euro coins DAY OF INTERVIEW SLOVAKIA 1 2 3 5 7 10 13 15 N= 209 237 254 302 314 320 332 330 only Slovak euro coins 19,9 26,7 36,8 47,2 48,7 36,1 39,1 36,5 mostly Slovak euro coins 42,8 48,9 44,4 42,8 37,1 53,1 41,3 46,7 mostly other euro coins 24,1 16,1 13,0 4,9 7,6 7,5 8,9 2,4 only other euro coins 6,9 6,0 4,9 4,1 4,9 1,9 9,7 12,5 DK/NA 6,3 2,2 0,9 1,1 1,8 1,3 0,9 2,0 Table 10. Currency of cash payments (01-15 uary 2009) Question Q4. Which currency did you use for your last cash payment today? DAY OF INTERVIEW SLOVAKIA 1 2 3 5 7 10 13 15 N= 341 336 336 336 336 338 336 336 korunas 19,5 42,6 39,0 32,0 19,9 8,6 6,8 1,5 a mix of korunas and euro 1,0 3,2 5,0 3,8 5,4 2,5 1,7 1,1 euro 0,3 9,9 16,6 30,4 45,4 42,5 58,0 62,5 I paid with a card 0,6 1,6 1,6 3,8 1,8 3,3 1,2 4,8 I did not buy anything today 78,5 42,7 36,9 29,5 27,1 42,4 32,3 30,1 page 19

DK/NA 0,2 0 0,9 0,5 0,5 0,6 0 0 Table 11. Currency of change received payments (01-15 uary 2009) Question Q5. If you made a purchase in cash, in which currency did you receive change in this transaction? Basis: those who made a purchase in cash DAY OF INTERVIEW SLOVAKIA 1 2 3 5 7 10 13 15 N= 71 187 204 223 237 181 224 219 in korunas 54,6 13,9 5,7 2,7 0,7 2,3 0 0 in a mix of korunas and euro 0 3,5 0,5 1,3 1,8 1,3 0,7 0 in euro 33,5 69,8 85,8 88,0 94,8 94,3 96,6 99,1 did not receive change 11,9 12,8 7,7 8,1 2,7 2,1 2,3 0,9 DK/NA 0 0 0,4 0 0 0 0,4 0 Table 12. Experienced problems when exchanging / withdrawing money (01-15 uary 2009) Question Q6. Have you experienced any problem when exchanging / withdrawing money in a bank today? DAY OF INTERVIEW SLOVAKIA 1 2 3 5 7 10 13 15 N= 341 336 336 336 336 338 336 336 Yes, I had to wait longer than usual 0 1,6 0,7 3,1 2,5 0,2 1,9 0,8 Yes, I had to visit several branches to avoid long waiting lines 0,2 0 0 0 0,3 0,2 0 0 I experienced a problem of another kind (e.g. the staff was not able to reply to my questions) 0 0,3 0 0,3 0,8 0 0 0,3 No, I did not experience any problem 2,2 12,7 14,6 10,6 12,6 5,3 15,1 8,7 page 20

I did not go to a bank today 97,6 85,4 84,7 85,8 83,8 93,8 82,7 89,8 DK/NA 0 0 0 0,2 0 0,6 0,3 0,3 page 21

Table 13. Age of respondent (29 December 2008-15 uary 2009) Question D1. How old are you? DAY OF INTERVIEW SLOVAKIA Dec 29 1 2 3 5 7 10 13 15 N= 336 341 336 336 336 336 338 336 336 16-29 years old 29,0 29,0 29,0 29,0 29,0 29,0 29,0 29,0 29,0 30-49 years old 35,0 35,0 35,0 35,0 35,0 35,0 35,0 35,0 35,0 50-64 years old 21,9 21,7 21,4 21,4 21,2 21,0 21,7 21,6 21,5 over 65 years 14,1 14,1 14,1 14,1 14,1 14,1 14,1 14,1 14,1 DK/NA 0 0,2 0,5 0,5 0,7 0,9 0,2 0,3 0,4 Table 14. Level of urbanisation (29 December 2008-15 uary 2009) Question D2. Where do you live? DAY OF INTERVIEW SLOVAKIA Dec 29 1 2 3 5 7 10 13 15 N= 336 341 336 336 336 336 338 336 336 in an urban area 57,3 57,9 56,6 55,1 52,9 53,8 55,6 51,4 53,8 in the rest of the country 42,5 42,1 43,2 44,6 45,4 45,4 43,3 48,6 45,5 DK/NA 0,3 0,2 0,4 1,7 0,7 1,0 0,6 page 22

Table 15. Activity of respondents (29 December 2008-15 uary 2009) Question D3. Regarding your current occupation, are you... DAY OF INTERVIEW SLOVAKIA Dec 29 1 2 3 5 7 10 13 15 N= 336 341 336 336 336 336 338 336 336 self-employed 7,8 10,8 6,3 7,3 6,3 8,9 7,4 9,5 5,0 employee 37,6 35,6 39,0 37,2 38,2 37,5 37,0 38,7 40,2 manual worker 3,8 2,6 3,5 4,4 3,6 2,4 3,9 1,0 3,1 without a professional activity (looking after the home, student, seeking a job, retired etc) 50,8 50,8 50,8 50,8 50,8 50,8 50,8 50,8 50,8 DK/NA 0 0,2 0,4 0,2 1,1 0,5 0,9 0 0,8 Table 16. Sex of respondent (29 December 2008-15 uary 2009) Question D4. RECORD RESPONDENT'S SEX DAY OF INTERVIEW SLOVAKIA Dec 29 1 2 3 5 7 10 13 15 N= 336 341 336 336 336 336 338 336 336 male 48,0 48,0 48,0 48,0 48,0 48,0 48,0 48,0 48,0 female 52,0 52,0 52,0 52,0 52,0 52,0 52,0 52,0 52,0 page 23

4. Survey details The survey "Dual circulation period in Slovakia Daily monitoring of the cash changeover process among the general public" was conducted for the European Commission, Directorate-General Economic and Financial Affairs. Telephone interviews on landline and mobile telephones were conducted between the 29/12/2008 and the 15/01/2009 by the Slovakian Focus Agency. The three waves of fieldwork were conducted as follows: 1st wave of fieldwork 29th of Dec 2008/ 1st 2009/ 2nd of 2009 2nd wave of fieldwork 3/5/7 2009 3rd wave of fieldwork 10/13/15 2009 Representativeness of the results Each daily subsample was representative of the Slovak population aged 15 years and above. Sizes of the sample The sample sizes amount to approximately 1000 respondents in each wave, and 333 interviews per day. A weighting factor justifies the national demographic results to the known population demographic distributions. The table presents the number of interviews actually carried out on each day. Slovakia Total interviews Conducted % of daily total % of Total Days 3031 300 100 29 December 336 33.2 11.1 1 uary 341 33.7 11.3 2 uary 336 33.2 11.1 Wave 1 1013 100 3 uary 336 33.3 11.1 5 uary 336 33.3 11.1 7 uary 336 33.3 11.1 Wave 2 1008 100 10 uary 338 33.5 11.2 13 uary 336 33.3 11.1 15 uary 336 33.3 11.1 Wave 3 1010 100 page 24

Questionnaires 1. The questionnaire prepared for this survey is reproduced at the end of this results volume, in English (see hereafter). 2. The partner companies translated the questionnaire in their national language. Tables of results The VOLUME table presents the results day by day. Statistical significance of the results The results in a survey are valid only between the limits of a statistical margin caused by the sampling process. This margin varies with three factors: 1. The sample size (or the size of the analysed part in the sample): the greater the number of respondents is, the smaller the statistical margin will be; 2. The result in itself: the closer the result approaches 50%, the wider the statistical margin will be; 3. The desired degree of confidence: the more "strict" we are, the wider the statistical margin will be. STATISTICAL MARGINS DUE TO THE SAMPLING PROCESS (AT THE 95 % LEVEL OF CONFIDENCE) FOR THE TOTAL SAMPLE SIZE OF 333 Various observed results are in columns (rounded to one decimal): 5% 10% 15% 20% 25% 30% 35% 40% 45% 50% N=333 2,3 3,2 3,8 4,3 4,7 4,9 5,1 5,3 5,3 5,4 page 25

5. Survey questionnaire 5.1 On 29 December 2008 Q1. What is the approximate duration of the period during which both the Slovak koruna and the euro will be accepted for cash payments in the shops? [DO NOT READ OUT ONE ANSWER ONLY] 1 - less than a week 2-1 week 3-2 weeks 4-3 weeks 5-4 weeks 6 - More than 4 weeks Q2. Do you currently have euro banknotes? - Yes 1 - No 2 - [DK/NA] 9 IF THE ANSWER IS 1 IN Q2 Q3. Where did you get them from? READ OUT MULTIPLE ANSWERS POSSIBLE] - Yes 1 - No 2 - [DK/NA] 9 a) From a trip abroad 1 2 9 b) From an exchange in a bank in Slovakia 1 2 9 c) From a cash transaction done in Slovakia 1 2 9 d) Other 1 2 9 Q4. Do you currently have euro coins? - Yes 1 - No 2 - [DK/NA] 9 page 26

IF THE ANSWER IS 1 IN Q4 Q5. Where did you get them from? READ OUT MULTIPLE ANSWERS POSSIBLE] - Yes 1 - No 2 - [DK/NA] 9 a) From a trip abroad 1 2 9 b) From an exchange in a bank in Slovakia 1 2 9 c) From a cash transaction done in Slovakia 1 2 9 d) From a starter kit 1 2 9 e) Other 1 2 9 Q6. If you have bought a euro starter kit, what do you intend to do with it? 1.- I intend to open it and start using the coins on 1 uary 2.- I intend to keep it 3.- I have bought several kits: I will use some and keep the other(s) 4 - I have not bought a mini kit D1. How old are you? - 16-29 years old...1-30-49 years old...2-50-64 years old...3 - over 65 years...4 - [DK/NA]...9 D2. Where do you live? - in an urban area:...1 - in the rest of the country...2 - [DK/NA]...9 D3. Regarding your current occupation, are you - self-employed...1 - employee...2 - manual worker...3 - without a professional activity (looking after the home, student, seeking a job, retired etc)...4 - [DK/NA] D4. RECORD RESPONDENT S SEX - male...1 - female...2 page 27

5.2 1 uary 2009 and onwards: Q1. What kind of banknotes do you have with you today (in your wallet, in your pocket etc.)? [READ OUT ONE ANSWER ONLY] - only koruna...1 - mostly koruna...2 - mostly euro...3 - only euro?...4 - [DK/NA]...9 Q2. What kind of coins do you have with you today (in your wallet, in your pocket etc.)? [READ OUT ONE ANSWER ONLY] - only Slovakcoins...1 - mostly Slovak coins...2 - mostly euro coins...3 - only euro coins?...4 - [DK/NA]...9 [IF HAS EURO COINS: Q2 = 2, 3, OR 4 ] Q3. Regarding the euro coins you have, are they? [READ OUT ONE ANSWER ONLY] - only Slovak euro coins...1 - mostly Slovak euro coins...2 - mostly other euro coins...3 - only other euro coins?...4 - [DK/NA]...9 Q4. Which currency did you use for your last cash payment today? [READ OUT ONE ANSWER ONLY] - korunas... 1 - a mix of korunas and euro...2 - euro...3 - I paid with a card - I did not buy anything today - [DK/NA]...9 page 28

Q5. If you made a purchase in cash, in which currency did you receive change in this transaction? [READ OUT ONE ANSWER ONLY] - In korunas... 1 - in a mix of korunas and euro...2 - in euro...3 - [did not receive change]...4 - [DK/NA]...9 Q6 Have you experienced any problem when exchanging / withdrawing money in a bank today? - Yes, I had to wait longer than usual - Yes, I had to visit several branches to avoid long waiting lines - I experienced a problem of another kind (e.g. the staff was not able to reply to my questions) - No, I did not experience any problem - I did not go to a bank today D1. How old are you? - 16-29 years old...1-30-49 years old...2-50-64 years old...3 - over 65 years...4 - [DK/NA]...9 D2. Where do you live? - in an urban area:...1 - in the rest of the country...2 - [DK/NA]...9 D3. Regarding your current occupation, are you - self-employed...1 - employee...2 - manual worker...3 - without a professional activity (looking after the home, student, seeking a job, retired etc)...4 - [DK/NA]...5 D4. RECORD RESPONDENT S SEX - male...1 - female...2 page 29