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  • Households in Greece and in the remaining countries of the Eurozone are pessimistic about inflationarydevelopments, particularly after the introduction of euro coins and banknotes. On the contrary, households in Denmark, the UK and Sweden, the three EU-15 countries that have not adopted theeuro, do not share the same pessimism.
  • Prior to the introduction of the Euro in scriptural form, household perceptions of past inflation werepositively related to actual past inflation. However,following the introduction of euro coins andbanknotes on 01/01/2002, the positive correlationbroke down in the Eurozone countries. It did notbreak down in the three countries outside theEurozone.