August 28, 2010

Europe Divided over Economic Situation

The perceived economic and employment situation in Europe varies enormously. According to the latest Eurobarometer, 77 % of the Europeans consider the economic circumstances in their own country as  being bad. Current employment conditions are regarded as negative by 83 % of the European population. The discrepancies between the various nations are immense though. 

In Spain, Portugal, Latvia and Ireland, 95 % of the population thinks the economic situation in their country is bad. For Hungary this number rises to 96 %, whereas Greece tops the list with a staggering 98% of its citizens that rates the current state of their economy as being negative.

On the opposite, only 26 % of the Swedish population considers the economic situation in their country to be bad. Luxembourg is second with 33 %. Finland completes the Top 3 with 41 % of its citizens judging the current state of their economy as being negative.

Employment Situation

When looking at the results concerning the perceived employment situation, the negative numbers are even higher. Of all the Greek citizens, 99% perceives the current state of the national labor market as bad. Spain and Ireland are runners up with 98 % and 97 % respectively. The overall attitude towards the state of the economy in Eastern Europe is also perceived as very negative.

The European nation with the most positive population with regard to the labor market is The Netherlands, with only 43 % of its citizens judging the employment situation as bad. Luxembourg is second with 45 %. Sweden concludes the top-3 with 53 %.


It appears from the numbers that there is a strong relation between the current economic crisis and the way that Europeansrate their own situation. Greece, Spain and Ireland were hit severely by the present recession, and these numbers are reflected in the negative way their citizens think about their own economic and employment circumstances.

The Scandinavian countries, and for example The Netherlands, the nation with the lowest unemployment rate in Europe, have witnessed less impact from the economical crisis. Consequently, the citizens in these nations perceive the circumstances quite positive compared to their weaker brothers.

Total Impact

Apparently, the countries that have profited the most from the last economic boost before the current crisis, now have to bear the heaviest burden. Greece, Spain, Ireland and many Eastern European nations saw double digit growth numbers before the crisis hit them. Now it appears that the economies backing these numbers were not as solid as the figures suggested. And the effects are reflected in their populations' state of mind.

About three-quarters of the Europeans rate their economic situation as bad. Although these numbers vary enormously, the old continent has a long way ahead on the Road to Recovery.


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