A majority of Europeans like the EU but are negative to the Euro and further integration

[Adar]

I thought this was an interesting survey conducted by The German Marshall fund of the United States. Essentially they have asked 12000 citizens in 12 EU countries (1000 in each) what they think on different important issues.

In general it looks like the most popular opinion is that the EU is good but that EU control over national budgets is bad and that the Euro got a negative impact on the economy. Support for the EFSF is however harder to determine since the EU average is driven up by by the fact that most major beneficiaries of the fund are included in the survey (Italy (76 % support), France (70 %), Portugal (67 %) and Spain (66 %).





In more solvent nations the situation is more divided. People in the Netherlands and Sweden (both 63 % support) are generally positive while people in Germany (50 %), UK (43 %) and Slovakia (38 %) are more negative. Especially Slovakias response is interesting considering that they are the only nation where a majority of the population considers the Euro to be economically positive, despite this they are unwilling to support the EFSF. Germany are also interesting since they are the only nation where the population support more EU control over sovereign budgets.

Spoiler Alert, click show to read: 

EU MEMBERSHIP VIEWED AS GOOD FOR ECONOMY,
THE EURO AS BAD
Despite another rough year for most economies inside the
EU, the majority of EU respondents (67%) still considered
that membership in the European Union had been a good
thing for their country’s economy (see chart 16).
With the strongest economy in the EU, Germans (76%)
were the most likely of all to say that membership in the
EU had a positive effect on their economic well-being. This
is particularly noteworthy because of Germany’s role in
helping to bailout other EU economies with debt problems.
Germans’ belief that the EU had been good for their economy
was followed closely by the Poles (74%) and the Dutch
(73%). The Bulgarians (46%) and the British (46%) were the
least likely to say that EU membership had benefited them
economically. In Turkey, a plurality (48%) said that EU
membership would be a good thing for their economy.
Despite these relatively high ratings of the economic benefits
of EU membership, the euro did not enjoy the same
support. Only 40% of EU respondents thought that using
the euro had been (as asked inside the eurozone) or would
be (as asked outside the eurozone) a good thing for their
country’s economy and a majority (53%) thought it had
been a bad thing (see chart 17).
Slovakia (55%) was the only country using the euro where
a majority of respondents said it had been a good thing
for the country’s economy, and respondents were evenly
divided about the benefits of using the euro in Italy (49%),
Germany (48%), and the Netherlands (47%). More than half
of the French (54%) and Portuguese (58%) said the euro
had been a bad thing for their economies (see chart 17).
With the exception of Romania, where a plurality of respondents
(46%) thought that using the euro would be a good
thing, respondents outside the eurozone were the least likely
to think so: U.K. (18%), Sweden (26%), Bulgaria (30%), and
Poland (33%).

EU CONTROL OVER NATIONAL BUDGETS UNPOPULAR
When it came to the EU having more authority over
member states’ economic and budgetary policies — a likely
prerequisite for future bailouts from Brussels — a majority
in every country surveyed, except Germany and Italy,
preferred that each member state retain authority for itself
(see chart 18). People in the U.K. (84%) and Sweden (75%)
were by far the most likely to say that member states should
maintain authority over their own economic and budget
policies. In Italy, respondents were almost evenly divided,
with 47% agreeing that each member state should keep
more control. Germany was the only country in which a
clear majority of respondents preferred that the EU have
more control over member states’ budgets and policies

CONTRIBUTING TO STABILITY FUND SEEN POSITIVELY
When asked whether they approve of their country making
contributions to a fund to assist member states that find
themselves in budgetary difficulty, 60% of EU respondents
thought it acceptable that their countries contribute to this
fund while only 36% disapproved. The majority of respon-
dents approved of this in all countries except for the U.K.
(43%) and Slovakia (38%). In Germany, likely to be the largest
contributor to any such fund, respondents were more
divided, with 50% approving of such a contribution and
47% disapproving (see chart 19).

In general I think the report is very interesting to read and providing a lot of information. Personally I am also glad that most people seem to agree with me regarding the EU/EMU but abit worried that people are very willing to support political interventionism to save the banks. I am not against interventionism per se but I think it is important that we do it in such a way that we do not subsidize the owners of the banks who caused the issues (see thread here). Further down the report you also see that people from economies doing badly are far more likely to see China as a threat rather than an opportunity compared to the nations faring better.

Link to the report

[ShockBlast]

All i see is rambling about the currency not further integration and as said by all pro-EU people if you don't like it vote UKIP and drop it,UK can't impose it's will on the rest of us without pissing off Deutschland and we all know who is big daddy and who is the unserious neighbour with one leg inside and one outside.

Above all people want stability and they think that the Euro currency is the root of all the problems well it's not, the Euro propagated the crisis from unhealthy countries to health ones it didn't create it.A EU institution with federal powers to regulate the currency will be needed,one currency one economic plan no more 17 national economic plans.

German Chancellor Angela Merkel on Thursday called for tougher global financial regulations, including strengthening world financial regulations by taxing banks globally.

Merkel also called for the establishment of a new European rating agency and the coordination of exits from stimulus measures during a conference of finance ministers from a number of G-20 nations.

The aim of the conference is to discuss new financial regulations the group will consider at a June G-20 summit in Toronto, Canada.

Merkel said international taxation would not ruin financial markets and Germany would push its partners to introduce taxes on banks at the Canada summit.

She stressed the importance of set up a European rating agency, saying, "the relationship between policymaking and rating agencies is a very tricky one and an interesting subject that needs to be addressed.

She said a European rating agency could act as “an alternative or a competitor” to the large private agencies.

Merkel also hoped to have an international agreement on exit strategies.

"The issue of exit strategies is of great importance to us," she said. "I am very concerned that we will be able to agree on a similarly coordinated — as we did stimulus measures — international agreement on exit strategies."

http://english.peopledaily.com.cn/90...3/6993791.html

Deutschland's will be done.

[General Brittanicus]

LOL! Before i even saw any reply posts i was going to predict that this would somehow be related to the UK and how everything is all our fault, but ShockBlast beat me to it. Why exactly are you targeting the UK in relation to this thread SB? Did you not actually read what it is about?

[ShockBlast]

LOL! Before i even saw any reply posts i was going to predict that this would somehow be related to the UK and how everything is all our fault, but ShockBlast beat me to it. Why exactly are you targeting the UK in relation to this thread SB? Did you not actually read what it is about?

A Eurosceptic British attacking the Eurozone and twisting a study about the currency to reflect his view,it can't be more simple then that.

First of all the Euro is not to be blamed for Greece's inability to self govern.As i've said the Euro propagated the crisis it didn't create it but the average citizen sees the Euro as a negative factor for this without thinking a bit back when the common currency helped the entire Eurozone to develop.
The masses are right in thinking that the crisis wouldn't have been so hard if they had their own national currencies but at the same time they wouldn't have enjoyed the same prosperity they had until now because of the Euro,it's double edged sword.
In 1 or 2 years the masses will pe pleased with the currency if Deutschland plays it's hand well in bringing a badly needed body to regulate the currency at the Eurozone level.
As of late Deutschland likes when it's will is done.

We fall back to our own national currencies or we regulate the one we have so future crisis wouldn't hit so hard?


Maidel i'll give you 3 choices :
a)UK
b)UK
C)Uk

Hit , it's UK.

[Maidel]

A Eurosceptic British attacking the Eurozone and twisting a study about the currency to reflect his view,it can't be more simple then that.

So the euro is failing because britian criticizes it or because britains not part of it?

First of all the Euro is not to be blamed for Greece's inability to self govern

No, but the european bank is to blame for looking at greeces ratings and then changing the entry requirements to shoe-horn them in, ignoring everyone who said they werent economically stable enough.

As i've said the Euro propagated the crisis it didn't create it but the average citizen sees the Euro as a negative factor for this without thinking a bit back when the common currency helped the entire Eurozone to develop.

That was the UK? right?

Maidel i'll give you 3 choices :
a)UK
b)UK
C)Uk

Hit , it's UK.

Right... The UK is to blame for not being in the euro - just so I have it right?

[ShockBlast]

So the euro is failing because britian criticizes it or because britains not part of it?

Nope,the Euro is having problems because there are 17 different national policies used with a single currency.I am just noting the British habit of ''trolling'' the EU and everything it tries to achieve.

No, but the european bank is to blame for looking at greeces ratings and then changing the entry requirements to shoe-horn them in, ignoring everyone who said they werent economically stable enough.

Who said they weren't stable enough?The numbers they provided were deemed acceptable.No one knew that they falsified the data,the ECB simply doesn't have the power to check those numbers.They can take a part of the blame but the Greeks are the ones who must answer in the first place.

That was the UK? right?

Oh brother , i've just made a remark about the British habbit of bashing the EU.UK is not to be blamed for the Euro but it can be blamed for pissing against the wind everytime we tried to go for further integration.

Right... The UK is to blame for not being in the euro - just so I have it right?

You missed the hole point of it,i'm talking about how deregulation and lack of a Eurozone wide regulatory body made the situation worse.

Your countryman just tries to capitulize on the current fear the mobs have to make a point against EU,that was my remark other then that i've explained that it's the fault of factors that UK has a small influence upon.

[Rolling Thunder]

First of all the Euro is not to be blamed for Greece's inability to self govern.

But it is to be blamed for financiers lending to Greece at the same rate they lend to Germany.
Then again, so are those financiers... Imbeciles.

Nope,the Euro is having problems because there are 17 different national policies used with a single currency.I am just noting the British habit of ''trolling'' the EU and everything it tries to achieve.

Mostly because we desire free trade and political sovereignty, and so resent the various things Europe attempts to force on us and the large sum of money that it takes from us for really no benefit to ourselves, and we see that the EU as in need of stripping down to a free trade group and possibly a single currency and single central bank.

[Maidel]

and who is the unserious neighbour with one leg inside and one outside.

Hang on, which one?

United Kingdom
Bulgaria
Czech Rep.
Denmark
Hungary
Latvia
Lithuania
Poland
Romania
Sweden

All of them are in the EU, but dont use the euro.

[Thorn777]

Armenia?

Why UK is so different, is because its social and economic culture isnt very mainland. They dont fit the shoe.

[Maidel]

Armenia?.

Evidentally its an 'associate' member.

Either way, my point is made with or without it.


(that will teach me to cut and paste from google!!!)

[Condottiere 40K]

All of which would be breathing a sigh of relief, if it wasn't for the fact they're all in it together regardless of their dithering. Armenia?

[Sphere]

The problem in a sentence is that all the Eurozone nations can borrow in Euro's but the debt is not backed by the "full faith and credit" of the ECB/EU.

In good times when there was no hint of sovereign default this allowed for fantastically cheap credit for many Eurozone countries as the Euro was rock solid, and bond holders didn't have to worry about currency devaluation which was the only foreseeable way the bonds might lose their value.

However, once the notion of actual sovereign default was let lose, currency devaluation took a back seat to worries about the bonds actually becoming worthless. This led to serious runs on the financially weaker parts of the Eurozone.

The only solutions are to a.) allow the sovereign default and see what happens or b.) use the borrowing power of the big-dogs to fund the PIGS.

The EU leaders chose to go with option B, but in a rather ad hoc and politically drawn out way with all sorts of rumors about hair-cuts, penalty regimes etc. which did little to sooth the markets.

The logical conclusion of this path is to simply say all national government bonds sold in Euro's are equal, as they are backed by the "full faith and credit" of the Eurozone as a whole, not individual countries. This is currently politically unpalatable, but it would likely solve the problem overnight if done convincingly.

[ShockBlast]

The problem in a sentence is that all the Eurozone nations can borrow in Euro's but the debt is not backed by the "full faith and credit" of the ECB/EU.

In good times when there was no hint of soveriegn default this allowed for fantastically cheap credit for many Eurozone countries as the Euro was rock solid, and bond holders didn't have to worry about currency devaluation which was the only foreseeable way the bonds might lose their value.

However, once the notion of actual soveriegn default was let lose, currency devaluation took a back seat to worrries about the bonds actually becoming worthless. This led to serious runs on the financially weaker parts of the Eurozone.

The only solutions are to a.) allow the soveriegn default and see what happens or b.) use the borrowing power of the big-dogs to fund the PIGS.

The EU leaders chose to go with option B, but in a rather ad hoc and politically drawn out way with all sorts of rumors about hair-cuts, penalty regimes etc. which did little to sooth the markets.

The logical conclusion of this path is to simply say all government bonds sold in Euro's are equal, as they are backed by the "full faith and credit" of the Eurozone as a whole, not individual countires. This is currently politically unpalatable, but it would likely solve the problem overnight if done convincingly.

A constructive post.

Option a can be seen as the right thing to do but sovereign defaults could create chain reactions.Greece , Italy , Portugal , Spain .... .All the Eurozone countries could have have two digit inflation.

Option b as pointed out by you can solve many of the problems but as i pointed out there isn't consensus.One currency one (true) Central Bank , one economic policy.
If i'm not mistaken the individual states in USA have more problems yet they aren't having the same problems because the Fed says yey or ney.

There are many cards that are yet to be played.A entity with federal-like powers is on the way and Deutschland is thinking about making some treaty changes.

This crisis could be seen as a baptizing for the EU and the Eurozone in special,it sure gave the politicians a kick in the backside regarding the European project.

And here the debate ends, because there is no room for debate when you have already preconceived that the other side is fundamentally wrong.

Sorry but i can't take any Eurosceptic seriously, i mean the hole idea of EU is to bring prosperity and it does that well.

Your problem is with the political powers that are given to the EU yet you,Eurosceptics,try to find economic weak points.Those do exist but compared to the gains those are small.Don't like it get out sign a FTA,you get the free trade you want we have the political union we want.

Stop playing with economic data or hiding hurt nationalist feelings behind so called mistakes of EU.

The current crisis started in USA not in the Eurozone,it was the different national policies that made things harder not the Eurozone yet you ask us to roll back on something that brought prosperity?

I can understand nationalist feelings and the fact that you want your country to rule itself but taking ceap shots at the European Project does you no justice.

Don't agree vote UKIP.

[bushbush]

Option b as pointed out by you can solve many of the problems but as i pointed out there isn't consensus.One currency one (true) Central Bank , one economic policy.
If i'm not mistaken the individual states in USA have more problems yet they aren't having the same problems because the Fed says yey or ney.

There are many cards that are yet to be played.A entity with federal-like powers is on the way and Deutschland is thinking about making some treaty changes.

This crisis could be seen as a baptizing for the EU and the Eurozone in special,it sure gave the politicians a kick in the backside regarding the European project.

The problem with B is that politicians (anti-EU ones at least) will say it is basically "we hardworking rich folks guarantee the poor lazy people's debts." That is not going to be popular in most countries.

[ShockBlast]

The problem with B is that politicians (anti-EU ones at least) will say it is basically "we hardworking rich folks guarantee the poor lazy people's debts." That is not going to be popular in most countries.

And they are right is saying that and the population of the States that keep the EU alive have every right to feel angry.
The Eurozone countries need to play by the same rules and asnwer before one institution not to their political interests.
Intergovernmentalism is not the way,even Germany and France are arguing,we need an institution to set the rules and see to it that all member states respect them orrrr Deutschland to rule the rest.

This is a rather predictable result. People are not ready for the level of integration that EU seems to be heading towards. As I said before you cannot force some pieces into a coherent puzzle and expect good results. The incoherent nature will show itself.

And way can't they just say that instead inventing stpuid thing about the EU.
Also we have the right to vote,if someone doesn't like it they can vote against it but if the majority is pro then there is little else that can be done to please those.

[bushbush]

And they are right is saying that and the population of the States that keep the EU alive have every right to feel angry.
The Eurozone countries need to play by the same rules and asnwer before one institution not to their political interests.
Intergovernmentalism is not the way,even Germany and France are arguing,we need an institution to set the rules and see to it that all member states respect them orrrr Deutschland to rule the rest.

Germany to "rule the rest"? you mean Germany bailing out everyone else right? I don't think Germans want that.

[Maidel]

I don't care what Eurosceptics have to say,]

And here the debate ends, because there is no room for debate when you have already preconceived that the other side is fundamentally wrong.

[Armenum]

This is a rather predictable result. People are not ready for the level of integration that EU seems to be heading towards. As I said before you cannot force some pieces into a coherent puzzle and expect good results. The incoherent nature will show itself.

[Maidel]

If France stopped taking so much European money from the CAP there might be a little more to go round and Germany might have to put a little less in...

[ShockBlast]

If France stopped taking so much European money from the CAP there might be a little more to go round and Germany might have to put a little less in...

I was thinking about their banks.They are trying to access the new fund yet the Germans want to keep it for countries that are really in need.The CAP could be useful here in the east to develop the agriculture.
Knowing how France has no problem promoting it's interests at the expense other countries,the CAP is a big plus for them.

All things in due time.