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Expansive Pew Public Opinion Poll on EU (released last Monday, 5-13-13)
Posted on 5/18/13 at 7:15 am
Posted on 5/18/13 at 7:15 am
There have been a lot of little snippets in the news lately mentioning this poll, so I thought I'd link to it here:
Overall, I saw that this is very heartening. It shows that European electorates hate all the "integration" (i.e., increased supra-national regulatory bureaucracy), while at the same time appreciating basic monetary integration with the Euro.
I've always been a supporter of the EMU, and I still am, but it is possible to support the EMU while simultaneously opposing the increasing powers of the EU.
quote:
Released: May 13, 2013
The New Sick Man of Europe: the European Union
French Dispirited; Attitudes Diverge Sharply from Germans
quote:
A Dyspeptic France
No European country is becoming more dispirited and disillusioned faster than France. In just the past year, the public mood has soured dramatically across the board. The French are negative about the economy, with 91% saying it is doing badly, up 10 percentage points since 2012. They are negative about their leadership: 67% think President Francois Hollande is doing a lousy job handling the challenges posed by the economic crisis, a criticism of the president that is 24 points worse than that of his predecessor, Nicolas Sarkozy. The French are also beginning to doubt their commitment to the European project, with 77% believing European economic integration has made things worse for France, an increase of 14 points since last year. And 58% now have a bad impression of the European Union as an institution, up 18 points from 2012.
quote:
Some Good News
Despite rising disillusionment with the European project, the euro, the common currency for 17 of the 27 European Union members, remains in public favor. More than six-in-ten people want to keep the euro as their currency in Greece (69%), Spain (67%), Germany (66%), Italy (64%) and France (63%). And support for the euro has actually increased in Italy and Spain since last year.
Overall, I saw that this is very heartening. It shows that European electorates hate all the "integration" (i.e., increased supra-national regulatory bureaucracy), while at the same time appreciating basic monetary integration with the Euro.
I've always been a supporter of the EMU, and I still am, but it is possible to support the EMU while simultaneously opposing the increasing powers of the EU.
1
Posted on 5/18/13 at 7:25 am to Doc Fenton
I too favor the Euro at a conceptual finance and political standpoint, but looking back its clear that while they achieved monetization in Europe they mishandled the enforcement and policy side with Greece and the like. There is still a lot of drama yet to unfold in the EU. A part of me is a bit surprised that they haven't cut Greece loose yet.
This post was edited on 5/18/13 at 7:26 am
Posted on 5/18/13 at 7:29 am to wiltznucs
quote:
they mishandled the enforcement and policy side with Greece and the like
Ehh. I don't think there should have ever been monetary enforcement measures in the first place.
quote:
A part of me is a bit surprised that they haven't cut Greece loose yet.
It should mostly be up to Greece, in my view.
Now whether the ECB is allowed to make discount loans to banks on the basis of using Greek sovereign debt as collateral is another issue.
Posted on 5/18/13 at 8:43 am to Doc Fenton
quote:
Ehh. I don't think there should have ever been monetary enforcement measures in the first place
Interesting... Your take is different than mine...
You don't believe the SGP was necessary and that countries like Greece could borrow beyond their ability to repay while disguising toxic assets in cleverly crafted Goldman Sachs derivatives? Clearly the SGP was ineffective, but to me there should certainly be a penalty for screwing those countries which have been fiscally responsible by your actions. Let's not be naive and think Greece was unaware of the repercussions of their actions, the fact they went so far to hide it suggests otherwise.
To me, the failure of the Euro in its simplest form was the idealistic notion that you could ever get a country like Greece, Spain or Italy to be transparent and to look beyond their own self interests as Germany and France have now been forced to do.
I have no idea where they go from here, but I can certainly tell as you have noted that the final chapter hasn't been written yet...
Posted on 5/18/13 at 8:54 am to wiltznucs
quote:
to me there should certainly be a penalty for screwing those countries which have been fiscally responsible by your actions
I really don't see what that has to do with the EMU.
The motivation for bailing out Greece had to do with preserving the idea of the EU regulatory apparatus and ever greater bureaucratic "harmonization."
It had nothing at all to do with "saving the euro." Nobody should be fooled by that line.
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