Crisis: The scars remain

Crisis: The scars remain

2009. 12. 15.

Compared to spring 2009 many more Europeans now express the view that the crisis has reached its peak. Even if the feeling that the worst is still to come continues to dominate public opinion, the survey
reveals signs of optimism among Europeans.

The economic ‘feel-bad’ factor appears to be fading: for the first time since autumn 2007, short-term expectations about the economic situation are moving in a positive direction. However, the expectation that the national employment situation will worsen continues to dominate public opinion.

Now that the G20 and the IMF have given the impetus for economic recovery, national governments and the European Union are called to the task of fighting the crisis.

Europeans believe that the EU offers adequate support to address the effects of globalisation. However, the view that the European Union has sufficient power and tools to defend its economic interests in the global economy has declined somewhat, though it is still held by a clear majority.

There is no clear consensus about how the financial system in the European Union should be reformed. Having a stronger European system of supervision, more transparency in the financial markets and more
accountability of financial managers, including bonuses are cited by comparable proportions of Europeans on average.

Views are almost equally split on the priority to give to the protection or the environment or to growth. This relative indecision of European public opinion can be explained by the fact that a large proportion consider that economic growth and the environment are not necessarily mutually exclusive.