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Eurobarometer 77.2 The Crisis and Economic G overnance (V)

Eurobarometer 77.2 The Crisis and Economic G overnance (V). Survey commissioned by the European Parliament and co-ordinated by Directorate-General for Communication (Public Opinion Monitoring Unit).  EB77.2 – TNS Opinion & Social. A. Methodology. Methodology. Special Eurobarometer.

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Eurobarometer 77.2 The Crisis and Economic G overnance (V)

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  1. Eurobarometer 77.2The Crisis and EconomicGovernance (V) Survey commissioned by the European Parliament and co-ordinated by Directorate-General for Communication (Public Opinion Monitoring Unit).  EB77.2 – TNS Opinion & Social

  2. A. Methodology

  3. Methodology Special Eurobarometer • Respondents interviewed face to face in their homes • Field work: 10 to 25 March 2012 • Target population: representative sample of 15+ • Coverage: 27 Member States of the European Union • Number of interviews: 26,593

  4. B. Structure

  5. B. Structure • 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? • 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 • Rating agencies

  6. 1. How MS respond to the crisis

  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. 1.1 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

  9. 1.2 In the face of the crisis: coordinated or individual action? A majority of Europeans still in favour of coordinated measures +3 -3

  10. 1.2 In the face of the crisis: coordinated or individual action? A majority of Europeans still in favour of coordinated measures

  11. 2. Options for emerging from the crisis

  12. 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)

  13. 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)

  14. 2.2 Convergence between budgetary policies Nearly two-thirds of Europeans still support preliminary consultation

  15. 2.3 Compliance with jointly defined rules A very large majority of Europeans support aid with conditions and automatic financial penalties 80% 12% 19% (=) 72% (+4)

  16. 2.3 Compliance with jointly defined rules An absolute majority in all MS in favour of imposing conditions on financial aid

  17. 2.3 Compliance with jointly defined rules Large majority in favour of penalties for failure to comply with rules 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

  18. 2.4 Pooling of debt: mixed opinions

  19. 2.5.1 FTT: Support for an FTT is increasing Total ‘Opposed’: 22% (-4) Total ‘In favour’: 66% (+5)

  20. 2.5.1 FTT: majority support in 24 Member States 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

  21. 2.5.2 FTT: An even larger majority in favour of introducing a financial transaction tax, whether at European or global level 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 in the EU at first, if international agreement is not reached Introducing a tax on financial transactions, but only at a global level, if international agreement is reached Total ‘Opposed’: 14% (+3) Total ‘Opposed’: 13% (-1) Total ‘In favour’: 81% (-4) Total ‘In favour’: 83% (+2) *Base: Questions put to the 66% of respondents who are in favour of an FTT

  22. 2.5.3 Reasons for support for an FTT: Firstly, to combat excessive speculation * *Base: Questions put to the 66% of respondents who are in favour of an FTT

  23. 2.5.4 Reasons for opposition to an FTT in the EU: Europeans still very divided * *Base: Questions put to the 13% of respondents who are opposed to an FTT in the EU

  24. 2.6.1 Eurobonds: Sharp increase in visibility (=) (=) Total ‘Yes’: 49% (+7) (-7) (+7)

  25. 2.6.1 Eurobonds: Increased visibility in 24 MS

  26. 2.6.2 Opinion on the creation of eurobonds:Question putto respondents in the euro zone who have heard of eurobonds (53% of euro zone respondents) * Total ‘In favour’: 44% (+6) Total ‘Opposed’: 25% (-8) *Base: Question put to respondents in the euro zone who have heard of eurobonds (53% of euro zone respondents)

  27. 3. Rating agencies

  28. 3.1 CRAs: Sharp increase in visibility of credit rating agencies (CRAs) (=) (+5) (-11) Total ‘Yes’: 61% (+11) (+6)

  29. 3.1 CRAs – Visibility: Sharpest rises in Austria, Cyprus, Germany and Italy

  30. 3.2 Role of CRAs: CRAs are seen to have played a role in the development of the crisis, but their usefulness is recognised * 67% (+2) 17% (-1) 23% (+2) 62% (-2) *Base: Questions put to the 61% of respondents who have heard of CRAs

  31. 3.3 CRAs: A MS receiving financial help from other MS should not be rated * Total ‘Agree’: 54% Total ‘Disagree’: 29% *Base: Questions put to the 61% of respondents who have heard of CRAs

  32. 3.3 CRAs: In 24 MS, a majority oppose credit rating MS receiving financial help * *Base: Questions put to the 61% of respondents who have heard of CRAs

  33. 3.4 CRAs – Creation of an independent European CRA: Increased approval in 19 MS 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 * *Base: Questions put to the 61% of respondents who have heard of CRAs

  34. 3.4 CRAs – Creation of an independent European CRA: More than two-thirds of Europeans in favour of an independent European CRA * Total ‘Disagree’: 17% (=) Total ‘Agree’: 67% (+2) *Base: Questions put to the 61% of respondents who have heard of CRAs

  35. Thank you for your attention

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