Euro & Equal Opportunities, Greek Public Relations Company.

There is no doubt that the successful introduction of the new currency, the euro, marks the culmination of a long and arduous process. However, this fact does not signify and should not signify the end of this process. Rather, it heralds the beginning of a new and more dynamic era in the process of European integration.

At the very least, the successful launch of the euro reminds us that great plans succeed only when there is political will, courage, and imagination. Europeans, as is the case everywhere, had identified with their national currency, some a bit more, as in the case of Britain, Denmark, and Sweden. Nonetheless, it is surprising that the new currency has been widely accepted after the initial strong resistance it faced. Citizens in each member state now share their common identity not through the national currency, but through their common linguistic, cultural, and historical ties.

Undoubtedly, the transition from one currency to another creates difficulties at the individual level: we must get used to new monetary values and incorporate them into all aspects of our daily lives.

In order to achieve consumer familiarity with the euro, an extensive information and communication campaign was required. The display of prices in both currencies was deemed mandatory, and the use of converters proved necessary. The dual pricing for a reasonable period of time was particularly beneficial in helping consumers think and calculate in euros, thereby gaining comfort in their transactions.

Women, in particular, are more affected by the consequences, as they must incorporate the new currency into their daily obligations, often managing the family budget alongside their professional activities and everyday life.

Research has shown that women approached the euro with greater caution compared to men. However, it is undeniable that women are more aware of the practical aspects of the transition to the new currency.

It would be useful to examine women’s behavior regarding the euro before January 1, 2002. For several years, Eurobarometer surveys showed that women were generally more cautious than men. However, more women were in favor of the euro than opposed to it. Thus, the percentage of women in favor of the new currency was 73% in Italy, 63% in Ireland, 57% in Luxembourg, 56% in Spain, 53% in the Netherlands, 52% in France, 51% in Belgium, and 50% in Greece. At the same time, only 25% of British women supported the establishment of a single currency.

The question arises, however, as to whether they were well-informed. European women reported feeling less well-informed than men. In the fall of 1997, 21% of women stated they felt very well-informed, compared to 34% of men.

The introduction of the euro in Greece marked the successful conclusion of a strict economic policy, sometimes particularly painful, aimed at securing Greece’s entry into the European Monetary Union. The acceptance of the new currency was warm among the entire population. The transition from the drachma to the euro was seen as a significant step forward directly linked to the establishment of our new national self-confidence.

Thus, the reception given to the euro was enthusiastic. The European Commission’s report on the fourth day of the euro’s circulation ranked Greece alongside the Netherlands at the top in transactions with the new currency, with a percentage exceeding 80%.

The introduction of the euro will have the most significant impact on citizens’ identification with the EU. However, there remains a pressing and urgent need for European citizens to connect with each other on a non-economic basis.

The euro is a currency without a state. Europe needs to develop an economic union to protect its currency from speculators and to advance its political unification.

The fact that some countries do not participate in the Eurozone certainly weakens the power of the euro. However, research has shown that there will soon be a need for integration for these countries as well.

It is interesting to examine the effects of the introduction of the euro as a single currency on employment issues. We should assess the potential for upgrading the level of labor relations, particularly for women workers.

It is generally accepted that the introduction of the new European currency entails profound changes—economic, political, and social—across the spectrum of member states’ choices regarding labor and employment issues. Furthermore, one of the convergence criteria set by the Maastricht Treaty was the alignment of national policies with the common European path.

Gender differences in employment, unemployment, and pay remain unacceptably large, while the representation rates of women and men in various sectors and professions show significant discrepancies. Additionally, the infrastructure for the care of children and other dependent family members is not sufficiently developed in most countries.

At the European level, women earn about 83% of the hourly wages of men. The gap is larger in the private sector compared to the public sector (76% and 89%, respectively), in the agricultural and industrial sectors compared to the services sector, and so on.

In Greece, wage differences between genders are significant and vary by sector. In industry, the average wages of male employees exceed those of female employees by 43% (1998, data from the Greek Statistical Authority), while in retail, the corresponding percentage is 14%, in wholesale 20%, in banks 30%, and in insurance companies 58%. Among workers in the manufacturing sector, the difference is 28%.

In professions that require greater specialization, the wage gap between the two genders is smaller. If we were to account for the estimated half a million women working in “informal employment,” the actual figures would be even larger. Notably, no contracts (national, sectoral, or business) include specific provisions or affirmative actions aimed at preventing, reducing, or eliminating wage discrimination against women.

Given that the overarching goal of the Economic and Monetary Union is to create conditions for economic stability and long-term growth, workers will benefit from the prospect of job security, the ability to work anywhere within the “zone,” as well as the fact that their wages will be protected against inflation due to the European Central Bank’s commitment to ensuring price stability.

With the introduction of the euro as a single currency, the revelation of income inequalities, and the need to link wage policies and daily wages to productivity increases, a more effective and unavoidable choice emerges: moving away from wage policies focused on increased national competitiveness and returning to socially just solutions that connect wage policies to increases in labor productivity.

The proposed amendments to the guidelines of the fourth pillar submitted by the European Commission aim to take into account the new priorities agreed upon at the Lisbon Summit two years ago. Specifically, the goal is to increase the employment rate of women from the current average level of 51% to 60% or higher by 2010. It is noted that the current employment rate for men stands at 70%, which is at least 20% higher than the corresponding rate for women. The EU’s objective is to raise the employment rate of women to 60% or higher by 2010 and to achieve an overall employment rate of 70%.

Actions to promote equal pay for equal work or for work of equal value must aim to eliminate pay inequality between women and men. Such actions should include analyses and agreed definitions of the concept of “work of equal value” across different sectors of the economy and in various professions. Additionally, EUROSTAT should regularly compile and publish statistics on wages classified by gender and by sector and profession.

In conclusion, we could say that a fundamental prerequisite for creating conditions of equal opportunities for all remains the optimal utilization of all human resources, as well as the fair distribution of responsibilities and obligations between the two genders, both in the private and public spheres.