FRANKFURT - THE euro could surpass the dollar in global importance within the next five years, most Europeans feel, according to a survey Monday by the Financial Times and Harris polling agency a few days ahead of the single currency's 10th birthday.

The poll also showed that eurozone residents supported further expansion but were pessimistic about the economy and felt the European Central Bank (ECB) has not done enough to control inflation in the eurozone area.

The eurozone will count 16 members and roughly 330 million residents when Slovakia joins on Thursday.

Since its launch on Jan 1, 1999, the euro's position as a reserve foreign currency has grown from 18 per cent to 27 per cent, and the value of euros in circulation has surpassed that of dollars.

The FT/Harris poll did not give an overall figure but a breakdown of the results showed that around 70 per cent of Spaniards and two-thirds of the French people agreed 'strongly' or 'somewhat' with the statement that the euro could overtake the dollar in global importance.

In Germany, the figure was 58 per cent and in Italy 62 per cent.

Even around 48 per cent of US residents polled agreed with the statement.

Europeans were downbeat with respect to the economic outlook, however, and a majority said the ECB's performance in fighting inflation was 'bad' or 'terrible.'

That was the case even though the central bank has generally managed to keep inflation from climbing much above its target of just below two per cent.

Some prices rose sharply with the formal introduction of euro notes and coins seven years ago, three years after the currency's launch as a virtual currency used in accounting and financial transactions.

Finally, a quarter of those polled felt the recession would last a year or less while the British expect at least two years of economic contraction and one third of Germans said Europe's biggest economy would not return to growth 'in the foreseeable future.' -- AFP