Article date: 14 January 2002
Research by norwichunion.com has identified that most Britonsdon't know what a Euro actually looks like.
norwichunion.com asked people what appeared on the front of the100 Euro note - 90 per cent of those questioned failed to identifythat a bridge-like structure appears on the note1.Amazingly six per cent said the Queen's head is on the note.
Most people guessed that it features a map of Europe (40 percent) - it doesn't.
There is a marked difference between men's and women's attitudesto the Euro - 46 per cent of men were able to correctly identifyhow many Euros there are in a pound, but only 29 per cent of womencould do so.
Despite the introduction of the Euro in a number of Europeancountries from 1 January 2002, a third of those people questionedthought it would make life more difficult when travelling onEuropean holidays.
But different parts of the country showed greater familiaritywith the Euro - two thirds of people in the Midlands admitted tonot knowing what a Euro looked like. While Wales embraced the Eurothe most - just under half of those questioned (four per cent)believed it would make European travel easier.
Rob Davies, brand manager at norwichunion.com, said: "Weshouldn’t be so surprised by the results of the research.Attitudes to money are undoubtedly different in other parts ofEurope when compared to the UK. When it comes to dealing in sharesfor instance, Germany is miles ahead of the UK, with more than amillion and a half Germans trading online - this compares to a mere300,000 people in the UK2.
"This disparity may be due to our fears when it comes to moneymatters. Although the increasing accessibility of the internet hasseen financial confidence grow - 82 per cent of online Britonsclaim they are able to manage their own finances2.
"There are more effective ways of managing your money. More andmore people are discovering there is a wealth of information to befound on the web."
norwichunion.com's online personal finance service aims toappeal to everyone - from novice investors to experienced daytraders - and provides customers with a wealth of information andperformance tools, designed to be jargon-free and make theirfinancial decision-making easier and more personal.
It has just launched:
- Fund Supermarket Isa - with a range of funds all independentlyrated by Standard & Poor's.
- Online share dealing - featuring a virtual portfolio thatenables users to 'try before you buy'.
norwichunion.com's online share dealing service and fundsupermarket Isa can only be found at www.norwichunion.com.
David Ross, Norwich Union Press Office, 08703 66 68 60
1 Source: Proshare “Shares and share ownershipfacts and figures” (5th edition, November 2000).
2 Source: norwichunion.com Wired Wealth Survey, January2001
3 Source: norwichunion.com interviewed 1002 adults aged16 and over between 11th - 13th December 2001, about theirattitudes towards and general knowledge of the Euro.
Notes to editors:
- norwichunion.com was launched in May 2001 and provides acomprehensive range of free, interactive financial planning toolsand impartial money guides, designed to help people make betterfinancial decisions by making complex money matters simple.
- A fund supermarket Isa and share dealing service are the firstin a range of products that will subsequently include a number ofbanking products.
- Norwich Union is the UK’s largest insurer offering acomprehensive range of long-term savings and general insuranceproducts.
- Norwich Union’s news releases are available on thisinternet site
- A selection of images are available from the Norwich UnionNewscast site at www.newscast.co.uk
- An ISDN facility is available for studio quality interviews.Call the press office on 08703 66 68 68
For life and pension media enquiries 08703 66 68 73 For allother media enquiries 08703 66 68 68
Please remember that past performance is no guide to futureperformance. These are risk investments and their value, and anyincome from them can go down as well as up.
The norwichunion.com online share dealing service is provided byPershing Securities Limited (Pershing) who are regulated by theFinancial Services Authority. By using the service, customers willform a contract with Pershing and all share trades effected bycustomers will be with Pershing. To market the service, NorwichUnion Wealth Management Limited is regulated by the FinancialServices Authority for investment business.
It a comprehensive range of free interactive financial planningtools and impartial money guides, including:
- A 60 second wealth check – visitors to the site canstart here for a quick check on the areas of their personalfinances that may need attention
- Wealth maximiser – an in-depth financial planningservice to help people work out what they may need to do to becomebetter off
- My wealth manager – an online income and expendituremanagement system and investment tracking service where users canupdate, monitor and manage their overall financial position andnet worth
- Money news – up-to-the-minute money news fromFT.com
- Knowledge centre – containing a wealth ofstraightforward and impartial information on personal financetopics, with a plain English jargon-buster