Europeans and the Crisis IV

07 October 2011

Methodology

Methodology

o Face-to-face interviews in the home of respondents

o Fieldwork: 3-18 September 2011

o Population: representative sample of people aged 15+

o Coverage: 27 European Union Member States

o Number of interviews: 26.856

Special Eurobarometer

3

Structure

Structure

A. Credit rating agencies

B. Convergence of budget policies

C. Pooling debt

D. Eurobonds

E. Europeans in the face of the crisis

• The current impact of the crisis

• The consequences of the crisis on working life

• Return to growth: when?

• The euro: has it acted as a “shock absorber”?

• Coordinated or individual action to deal with the crisis?

F. Solidarity between Member States

5

A. Credit rating agencies

7

A.1 CRA – One in two Europeans has heard of them

Total ‘Yes’: 50%

(1%)

*

4%

8

A.2 The influence of credit rating agencies: useful but controversial in the eyes of Europeans

Total “Agree”: 65% Total “Agree”: 64%

Total “Disagree” : 21%

*Basis: Questions asked to the 50% of people polled who have heard of CRA

Total “Disagree” : 18%

9

A.3 CRA– their role and the usefulness of the information provided by them: Europeans divided

* Basis: Questions asked to the 50% of people polled who have heard of credit rating agencies

Total 'Agree'

EU27 64%

NL 81%

SE 81%

FI 80%

CY 79%

DK 78%

… …

DE 58%

PT 55%

IE 54%

EL 54%

ES 54%

RO 48%

QA15.3 Information provided by credit rating agencies is useful to economic actors as support for

their financial decision-making *

Total 'Agree'

EU27 65%

LU 78%

CY 77%

BE 73%

DE 72%

IT 72%

…

CZ 53%

EE 51%

BG 50%

LT 49%

RO 48%

QA15.1Credit rating agencies have played a significant role in the development of the financial

crisis*

*

10

A.4 CRA– A majority of Europeans are in favour of the creation of an independent European credit rating agency

Total “Agree”: 65%

Total “Disagree” : 17%

* Basis: Question asked to the 50% of people polled who have heard of CRA

B. Convergence of budget policies

12

B.1 Europeans are in favour of budget convergence and escalating financial penalties

Total ‘In favour’: 67%

Total ‘Opposed’ : 18%

Total ‘In favour’: 68%

Total ‘Opposed’ : 19%

Total 'In favour' Total 'Opposed'Don't know

EU27 68% 19% 13%

EURO ZONE

72% 18% 10%

NON EURO

61% 21% 18%

QA10.2 Automatic application of escalating financial penalties for EU Member States which fail to comply with

jointly defined rules on debt and public deficit

Total 'In favour' Total 'Opposed'Don't know

EU27 67% 18% 15%

EURO ZONE

72% 15% 13%

NON EURO

58% 23% 19%

QA10.1 Including a preliminary consultation between European institutions and national political institutions in

the drafting process of national budgets

13

B.1 Budget convergence – eurozone/Non-eurozone

QA10 Specifically regarding the convergence between the budgetary policies of the EU Member States, tell me if you are in favour of oropposed to each of the following measures.

C. Pooling debt

15

C.1 A majority of Europeans support the idea of pooling part of the debt

66%

62%

61%

57%

50%

16

C.2 What consequences for the Member States having the least difficulties?

17

C.3 What consequences for the Member States having the most difficulties ?

D. Eurobonds

19

D.1 Two out of five Europeans have heard of Eurobonds

Total ‘Yes’: 42%

(1%)

20

D.2 Eurobonds– eurozone/non-eurozone

Total ‘Yes’: 46%

EUROZONE NON EUROZONE

Total ‘Yes’: 35%

(1%)

21

D.3 A majority of the Europeans in the eurozone who have heard of them are in favour of their creation

Total ‘In favour’: 38%

Total ‘Opposed’ : 33%

EUROZONE*Basis: Question asked to the 7510 respondents in the eurozone who have heard of eurobonds

*

E. Europeans in the face of the crisis

The current impact of the crisis

24

E.1 Europeans are increasingly concerned about their personal situation

Total 'Impact' Diff. EB76.1 -EB74.1

EU27 59% +7

PT 87% +17

DK 40% +16

IT 78% +13

NL 42% +13

MT 64% +12

UK 66% +12

IE 81% +11

SK 69% +11

EL 92% +9

FR 59% +9

CY 84% +9

LU 38% +9

PL 54% +9

25

E.2 Negative perceptions have increased

AT 34% +7

BG 83% +6

ES 67% +6

LT 73% +6

SE 23% +4

CZ 58% +3

EE 75% +3

HU 89% +3

BE 49% +2

DE 29% +2

SI 62% -4

FI 24% -4

RO 79% -6

LV 69% -9

QA1.4 To what extent do you consider that the current crisis is or is not having an impact on each of the following?

Your personal situation

The consequences of the crisis on working life

27

E.3 Levels more or less unchanged but still high

QA2 Here are some situations that could have arisen recently in your working life or in the working life of those around you. For each of them, please tell me if this has happened as a direct consequence of the crisis, if it has happened but was not a direct

consequence of the crisis, or if it has not happened at all. You have lost your job\ your partner (husband or wife, partner, etc.) has lost his\ her job

- Yes, as a direct consequence of the crisis -

One of your relatives has lost his\ her job

Diff. EB76.1 -EB74.1

EU27 23% =

CY 44% +13

EL 40% +11

BG 43% +8

PT 28% +8

IE 55% +5

… …

FR 12% -5

FI 6% -5

LT 42% -8

SE 5% -9

LV 45% -12

You have lost your job\ your partner (husband or wife,

partner, etc.) has lost his\ her job

Diff. EB76.1 -EB74.1

EU27 12% +1

EL 16% +6

CY 15% +6

PT 18% +6

IT 13% +5

MT 8% +5

… …

FI 5% -1

EE 20% -2

SE 4% -2

LV 28% -6

28

E.4 Working life consequences: The situation has deteriorated in the countries the most affected by the crisis

Return to growth: when?

30

E.5 The crisis is expected to last for many years: negative perceptions of the situation have worsened

+5

+3

-6

-3

EB75 Spring 2011

31

E.6 Gloomy outlook

We are already returning to growth

Diff. EB76.1 -EB75.2

EU27 8% -6

LV 9% +5

PL 9% +1

BG 2% +1

LT 8% =

… …

AT 16% -13

NL 6% -23

FI 5% -29

SE 16% -42

The crisis is going to last for many years

Diff. EB76.1 -EB75.2

EU27 41% +5

CY 46% +17

IT 41% +12

HU 54% +12

SI 52% +10

… …

IE 49% -1

MT 27% -2

PL 31% -4

LV 42% -11

32

E.7 The deterioration is particularly sharp and extends to northern EU countries

QA4 When it comes to a return to growth in (OUR COUNTRY), which one of the following opinions is closest to your own?

We are already returning to

growth

A return to growth will start in the coming months

A return to growth will start in the coming years

The crisis is going to last for many

yearsDon't know

EU27 8% 10% 36% 41% 5%

15-24 10% 14% 38% 32% 6%

25-39 9% 11% 38% 38% 4%

40-54 7% 10% 36% 44% 3%

55 + 7% 8% 33% 47% 5%

15- 7% 8% 29% 51% 5%

16-19 8% 10% 35% 43% 4%

20+ 9% 11% 41% 36% 3%

Still studying 11% 15% 40% 28% 6%

Self- employed 7% 12% 40% 38% 3%

Managers 11% 12% 42% 32% 3%

Other white collars 9% 12% 40% 37% 2%

Manual workers 8% 10% 35% 43% 4%

House persons 6% 8% 32% 48% 6%

Unemployed 4% 7% 31% 52% 6%

Retired 7% 8% 32% 47% 6%

Students 11% 15% 40% 28% 6%

Total 'Mitigated negative effects' 10% 15% 39% 34% 2%

Total 'Not mitigated negative effects' 7% 8% 35% 47% 3%

QA4 When it comes to a return to growth in (OUR COUNTRY), which one of the following opinions is closest to your own?

Age

Education (End of)

Respondent occupation scale

Euro during the crisis

33

E.8 The crisis is expected to last for many years: The most vulnerable categories at the heart of the storm

The euro: has it acted as a “shock absorber”?

E.9 Opinions of Europeans on whether or not the euro has mitigated the negative effects of the crisis are stable …

35

E.10 … even if views of Europeans are slightly less polarised

Total “Agree” : 34%

Total “Disagree” : 54%

36

Inner Pie: EB75 Spring 2011Outer Pie: EB76.1 Sept. 2011

QA3 Could you tell me to what extent you agree or disagree with the following statement: Overall the euro has mitigated the negative effects of the crisis.

Total 'Agree'Diff.

EB76.1 -EB75.2

EU27 34% =

UK 43% +17

ES 32% +5

EL 40% +4

CY 30% +4

BG 22% +1

FR 28% +1

RO 36% +1

PL 27% =

PT 33% =

DK 34% -1

IE 46% -1

LV 23% -1

LT 21% -1

E.12 Significant differences between Member States

37

HU 32% -3

SI 23% -3

EE 28% -4

CZ 21% -5

LU 40% -5

BE 38% -6

IT 47% -6

MT 36% -6

DE 28% -8

SK 47% -8

NL 33% -11

FI 39% -11

SE 20% -11

AT 41% -12

Coordinated or individual action to deal with the crisis?

E.13 Support for coordinated action to deal with the crisis is stable

39

EB75 Spring 2011

E.14 Europeans perceive closer coordination between Member States

40

- 3

+10

- 7

Tended to act in a coordinated way with the other EU

countries

Diff. EB76.1 -EB74.1

EU27 48% +10

DE 61% +20

BG 56% +19

PT 55% +18

FR 43% +14

BE 54% +13

LV 48% +13

RO 39% +12

SE 50% +12

UK 34% +12

SK 52% +11

LT 43% +9

LU 48% +9

IE 41% +8

E.15 Europeans perceive closer coordination between Member States

41

IT 53% +8

MT 61% +8

PL 47% +8

DK 32% +7

EE 54% +7

EL 55% +6

AT 50% +6

CY 56% +5

HU 50% +3

SI 47% +3

FI 70% +2

ES 46% +1

NL 35% -1

CZ 44% -8

QA6 Would you say that up until now, to face the crisis, the various EU Member States have…?

F. Solidarity between Member States

F.1 Financial solidarity vis-à-vis MS in difficulty – Polarisation of European opinion

43

- 1

+ 4

- 6

+ 1

+2

Polarisation of opinion

QA7 To what extent do you agree or disagree with the following statement: In times of crisis, it is desirable for (OUR COUNTRY) to give financial help to another EU Member State facing severe

economic and financial difficulties.

Total 'Agree'Diff. EB76.1 -

EB74.1

EU27 50% +1

LU 72% +13

DK 71% +2

SE 67% =

NL 65% +9

BE 60% - 1

PL 57% +6

DE 54% +8

IT 53% =

IE 53% - 2

PT 53% - 3

EL 52% +4

ES 52% +3

FR 52% +1

F.2 Financial solidarity – Europeans who agreeSignificant differences between Member States

44

FI 52% - 6

MT 51% +4

CY 51% - 19

AT 50% - 5

UK 45% - 1

EE 44% - 12

LT 40% - 2

CZ 37% +2

HU 36% +1

LV 36% - 2

RO 34% +2

SK 32% - 3

BG 27% +3

SI 25% - 4

Total 'Disagree'

Diff. EB76.1 -EB74.1

EU27 44% +5

SI 74% +6

SK 65% +6

LV 62% +5

BG 62% +11

HU 61% +3

CZ 60% =

LT 56% +10

RO 56% +11

EE 53% +15

UK 50% +8

FI 47% +9

AT 46% +8

CY 46% +23

QA7 To what extent do you agree or disagree with the following statement: In times of crisis, it is desirable for (OUR COUNTRY) to give financial help to another EU Member State facing severe

economic and financial difficulties.

F.3 Financial solidarity – Europeans who disagreeSignificant differences between Member States

45

EL 46% =

FR 45% +3

DE 44% -1

MT 42% +2

ES 40% +4

BE 39% +2

PT 39% +10

IT 38% +9

IE 37% +8

NL 34% -6

PL 33% +1

SE 32% +5

DK 28% =

LU 25% -7

*

F.4 Reasons for providing financial help – European solidarity prevails and has gained significant ground

46

+ 4

- 3

*Basis: Question asked to the 50% of respondents who ‘agree’ with financial solidarity

F.5 The scores for the reasons for not providing financial help are stable

47* Basis: Question asked to the 44% of respondents who ‘disagree’ with financial solidarity

*

Thank you for your

attention