Eurobarometer 77.2 The Crisis and Economic Governance (V) Survey commissioned by the European...

Eurobarometer 77.2 

The Crisis and Economic Governance (V)

Survey commissioned by the European Parliament and co-ordinated byDirectorate-General for Communication (Public Opinion Monitoring Unit).

 EB77.2 – TNS Opinion & Social

A. Methodology

2

Methodology

o Respondents interviewed face to face in their homes

o Field work: 10 to 25 March 2012

o Target population: representative sample of 15+

o Coverage: 27 Member States of the European Union

o Number of interviews: 26,593

Special Eurobarometer

3

B. Structure

4

1. How MS respond to the crisis

• Reduction of public spending, measures to boost the economy or both at the same time?

• In the face of the crisis: coordinated or individual action?

2. Options for emerging from the crisis

• Measures to be taken to emerge from the crisis• Convergence between budgetary policies• Compliance with jointly agreed rules• Pooling of debt• FTT• Eurobonds

3. Rating agencies

B. Structure

5

1. How MS respond to the crisis

6

1.1 Reduction of public spending, measures to boost the economy or

both at the same time?

Nearly half of Europeans support both at the same time

7

1.1 Reduction of public spending, measures to boost the economy or

both at the same time?

Nearly half of Europeans support both at the same time

8

1.2 In the face of the crisis: coordinated or individual action?

A majority of Europeans still in favour of coordinated measures

+3

-3

9

1.2 In the face of the crisis: coordinated or individual action?

A majority of Europeans still in favour of coordinated measures

10

2. Options for emerging from the crisis

11

2.1 Measures to be taken to emerge from the crisis

Priority for support for SMEs

QA2 The European Parliament promotes certain measures to help the European Union emerge from the crisis, by ensuring a return to employment and sustainable growth. In your view, which of the following measures should be a priority ? (MAX. 4 Answers)

12

Countries Pre 2004

Countries Post 2004/2007

Support small and medium-sized businesses (SMEs)

50% 44%

Invest in education, training, and research

51% 33%

Encourage the fight against youth unemployment

42% 52%

2.2 Convergence between budgetary policies

Nearly two-thirds of Europeans still in favour of preliminary consultation

QA8 Specifically regarding the convergence between the budgetary policies of the EU Member States, tell me if you are in favour of or opposed to including a preliminary consultation between European institutions and national political institutions in the drafting process of national budgets.

Total ‘In favour’: 65% (-2)

Total ‘Opposed’: 21% (+3)

13

Total 'In favour'

EURO ZONE

70%

NON EURO

56%

2.2 Convergence between budgetary policies

Nearly two-thirds of Europeans still support preliminary consultation

14

2.3 Compliance with jointly defined rules

A very large majority of Europeans support aid with conditions and

automatic financial penalties

15

80%

72% (+4)

12%

19% (=)

2.3 Compliance with jointly defined rules

An absolute majority in all MS in favour of imposing conditions on financial

aid

16

2.3 Compliance with jointly defined rules

Large majority in favour of penalties for failure to comply with rules

17

QA9.1 And when it comes to enforcing the common rules for public debts and deficits, please tell me if you are in favour of or opposed to each of the following measures.

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'Diff.

March 2012 - Sept 2011

EU27 72% +4

BG 77% +22

MT* 63% +11

ES* 76% +9

LT 78% +9

PL 72% +9

DK 83% +8

LU* 77% +8

SI* 81% +8

IE* 50% +7

LV 55% +7

CZ 76% +6

AT* 78% +6

IT* 78% +4

SK* 89% +4

DE* 76% +3

EE* 60% +3

FI* 89% +3

UK 57% +3

BE* 77% +2

EL* 64% +2

FR* 75% +2

SE 76% +2

RO 60% +1

PT* 69% -2

CY* 75% -4

HU 69% -5

NL* 73% -6

* EURO ZONE

2.4 Pooling of debt: mixed opinions

18

2.5.1 FTT:

Support for an FTT is increasing

19

Total ‘In favour’: 66% (+5) Total ‘Opposed’: 22% (-4)

Total 'In favour'

EURO ZONE

73%

NON EURO

53%

Total 'In favour'Diff.

March 2012 - apr.- may 2011

EU27 66% +5

EL* 81% +20

CY* 73% +19

BG 52% +18

SI* 61% +17

ES* 66% +16

LT 62% +13

IT* 72% +11

FR* 79% +10

SK* 78% +9

LU* 73% +8

DE* 78% +7

PL 52% +7

EE* 53% +6

2.5.1 FTT: majority support in 24 Member States

20

QA4.1 Please tell me to what extent you are in favour or opposed to each of the following statements related to this tax. The principle of a tax on financial transactions

BE* 72% +5

HU 70% +4

CZ 64% +4

SE 70% +3

MT* 33% +3

PT* 68% +2

NL* 60% +2

FI* 64% +1

DK 63% =

LV 53% -3

RO 35% -3

AT* 74% -6

IE* 47% -8

UK 53% -12

* EURO ZONE

2.5.2 FTT:

An even larger majority in favour of introducing a financial transaction tax,

whether at European or global level

21

4.2 & 4.3 Please tell me to what extent you are in favour or opposed to each of the following statements related to this tax. *

Introducing a tax on financial transactions, but only at a global level, if international agreement is reached

Introducing a tax on financial transactions in the EU at first, if international agreement is not reached

Total ‘In favour’: 81% (-4)

Total ‘Opposed’: 14% (+3) Total ‘Opposed’: 13% (-1)

Total ‘In favour’: 83% (+2)

*Base: Questions put to the 66% of respondents who are in favour of an FTT

2.5.3 Reasons for support for an FTT:

Firstly, to combat excessive speculation

22*Base: Questions put to the 66% of respondents who are in favour of an FTT

*

2.5.4 Reasons for opposition to an FTT in the EU:

Europeans still very divided

23*Base: Questions put to the 13% of respondents who are opposed to an FTT in the EU

*

2.6.1 Eurobonds:

Sharp increase in visibility

24

(+7)

(-7)

(=)

(=)

Total ‘Yes’: 49% (+7)

Total 'Yes'

EURO ZONE

53%

NON EURO

42%

RO 27% +8

IE* 64% +7

ES* 48% +6

PT* 30% +6

SI* 55% +6

DE* 67% +5

SE 36% +5

FR* 31% +4

MT* 46% +4

UK 42% +4

DK 22% +2

LV 31% -1

NL* 61% -3

LU* 46% -4

* EURO ZONE

Total 'Yes'Diff.

March 2012 - Sept 2011

EU27 49% +7

BG 59% +21

AT* 60% +17

SK* 60% +16

CZ 67% +14

IT* 55% +12

CY* 52% +11

BE* 48% +10

FI* 58% +10

EL* 81% +9

LT 41% +9

HU 42% +9

EE* 51% +8

PL 44% +8

2.6.1 Eurobonds:

Increased visibility in 24 MS

25

2.6.2 Opinion on the creation of eurobonds:

Question put to respondents in the euro zone who have heard of

eurobonds (53% of euro zone respondents)

26*Base: Question put to respondents in the euro zone who have heard of eurobonds (53% of euro zone respondents)

*

Total ‘In favour’: 44% (+6)

Total ‘Opposed’: 25% (-8)

3. Rating agencies

27

3.1 CRAs:

Sharp increase in visibility of credit rating agencies (CRAs)

28

(+6)

(-11)

(+5)

(=)

Total ‘Yes’: 61% (+11)

SK* 19% +3

FI* 40% +3

PL 15% +2

CZ 17% +1

DK 37% +1

EE* 10% +1

NL* 54% +1

SE 37% +1

PT* 19% =

UK 54% =

LV 11% -1

LT 6% -1

ES* 21% -2

IE* 32% -7

* EURO ZONE

Yes, and you know what

they are

Diff. EB77.2 - EB76.1

EU27 32% +5

AT* 38% +15

CY* 31% +12

DE* 50% +11

IT* 23% +11

HU 28% +10

EL* 30% +9

MT* 22% +9

SI* 27% +9

BE* 31% +7

FR* 25% +7

BG 14% +5

LU* 33% +3

RO 10% +3

3.1 CRAs – Visibility:

Sharpest rises in Austria, Cyprus, Germany and Italy

29

3.2 Role of CRAs:

CRAs are seen to have played a role in the development of the crisis, but

their usefulness is recognised

30*Base: Questions put to the 61% of respondents who have heard of CRAs

*

67% (+2)

62% (-2)

17% (-1)

23% (+2)

3.3 CRAs:

A MS receiving financial help from other MS should not be rated

31*Base: Questions put to the 61% of respondents who have heard of CRAs

*

Total ‘Agree’: 54%

Total ‘Disagree’: 29%

3.3 CRAs:

In 24 MS, a majority oppose credit rating MS receiving financial help

32*Base: Questions put to the 61% of respondents who have heard of CRAs

*

FI* 77% +4

HU 76% +3

EL* 71% +2

PL 67% +2

SE 68% +2

EE* 56% +1

IT* 69% =

FR* 66% -1

NL* 76% -1

ES* 64% -2

SI* 70% -2

LV 52% -3

UK 46% -3

SK* 68% -5

* EURO ZONE

Total 'Agree'Diff.

March 2012 - Sept 2011

EU27 67% +2

MT* 66% +15

LT 63% +12

RO 51% +11

BG 65% +10

CY* 88% +9

PT* 72% +9

BE* 85% +7

CZ 64% +7

DK 75% +7

LU* 78% +7

DE* 79% +4

IE* 58% +4

AT* 78% +4

QA13.2 Please tell me to what extent you agree or disagree with each of the following statements on credit rating agencies, on the basis of what you know about them. The creation of an independent European credit rating agency would counterbalance the power of the existing agencies

3.4 CRAs – Creation of an independent European CRA:

Increased approval in 19 MS

33*Base: Questions put to the 61% of respondents who have heard of CRAs

*

3.4 CRAs – Creation of an independent European CRA:

More than two-thirds of Europeans in favour of an independent European

CRA

34*Base: Questions put to the 61% of respondents who have heard of CRAs

*

Total ‘Agree’: 67% (+2)

Total ‘Disagree’: 17% (=)

Thank you for your

attention