Following last month’s second bailout deal for Greece, sentiment in Britain, Germany and France is united in opposition to using bailouts again in the future, even if they were deemed necessary to keep the Eurozone intact, our poll on behalf of Bloomberg has revealed. Almost two thirds of British people are strongly opposed, while Germans and French are also fervently against the idea.
The poll also revealed that over half of the German public and nearly half of the French, British and Danish public want to expel Greece from the Eurozone altogether.
Relatedly, outside the Eurozone, Britons and Danes are opposed to joining the currency – and Britons especially so, with less than one in ten approving adopting the currency.
Bailouts
Asked whether bailouts should again be used – even if they are necessary to keep the Eurozone intact – sentiment is united in opposition:
- Germans (20% saying yes; 59% saying no)
- Britons (13% yes; 65% no)
- French (27% yes; 47% no)
- Danes (32% yes; 42% no)
Greece in the Eurozone
Over half of the German public and nearly half of the French, British and Danish public want to boot Greece out of the Eurozone:
- 58% of Germans want Greece to go
- As do 45% of the French
- Like 45% of Britons
- And 43% of Danes
- When asked about other EU countries, respondents were much more supportive; Portugal, Ireland, Italy, and Spain received at least 75% support to remain in the Eurozone across all 4 populations questioned
Support for the euro
- Only 31% of French people would support their country’s withdrawal from the Eurozone (while 53% supporting staying in)
- In Germany, 44% supported dropping the single currency, while 48% supported keeping it
- Outside the Eurozone, Britons are strongly opposed to joining the Eurozone (only 9% of Britons approve compared 85% who disapprove of the idea)
- While Danes too remain against joining the Eurozone (37% of Danes want to join compared to 61% disapproving)
Government support
- Germans are particularly harsh on their government's performance regards the crisis, giving low marks for the actions of the Merkel Government (15% approve; 75% disapprove)
- Germans were also disappointed with the information given about the crisis (19% approve; 75% disapprove)
- In the 3 other countries polled, only Denmark supported its Government's actions (39% approve; 36% disapprove)
- France was similarly disapproving (35% approve; 47% disapprove)
- And Britain was not supportive either (33% approve; 41% disapprove)
As the results from this Bloomberg/YouGov pan-European poll of Eurozone members show, the European public reports dissatisfaction with government action in the crisis and many want to eject Greece from the Eurozone.
Anger at Greece
Michael Nardis, Head of YouGov Investment Products said: ‘The worry for investors is the uncertainty around whether the ECB will support further bailouts. Public sentiment is overwhelmingly against any more bailouts, particularly given the rest of Europe's anger directed at Greece, making this an increasingly combustible situation.’
Support for the common currency
‘Despite the sentiment about bailouts, French and German citizens are still supportive of remaining in the common currency,’ he added. ‘While this crisis has done nothing to attract British or Danish support for the euro, investors should have confidence in the short-run that a complete breakdown of the Eurozone appears unlikely.’
