Eurobarometer: Not a single answer about what the Banking Union will cost to citizens

Press conference by Cecilia Malmström, Member of the European Commission, presenting a Eurobarometer survey. Raising her hands, she seems helpless with the findings. (EC Audiovisual Services).

Press conference by Cecilia Malmström, Member of the European Commission, presenting a Eurobarometer survey. Raising her hands, she seems helpless with the findings. (EC Audiovisual Services).

At a critical time for the future of Eurozone, with the Banking Union still pending – the most important project since the euro – and the Eurobarometer survey failed to ask the citizens of the 18 euro area member states about that. Of course this is not a grave omission of the people who drafted the questionnaire, but of their political bosses, who have so far failed to inform the euro area citizens about the importance of the Banking Union project and what it means for them.

Understandably, this latest Eurobarometer public opinion survey is focused on the European elections of 2014, which constitute now the first priority for the EU parliamentarians. It’s about their jobs! The main questions asked in this survey are centred on the dynamism of the common future feeling. Citizens were asked “Are we better off economically when we act together? Should member states work in conjunction with others or are they better off on their own?”.

Like answers, like questions

Unfortunately the survey failed to explain the meaning of the common future. Not a question about what, the under construction Banking Union, will mean for hundreds of millions of citizens in the 18 euro area countries. Nothing mentioned about the future things to come, or about the financial liabilities which will be more or less shared by all.

Nobody in the EU speaks loud about all that. In this respect, the critical point which still remains unanswered and has blocked the creation of the Single Resolution Mechanism is the sharing of costs in resolving failing Eurozone banks. Will the taxpayers of all euro area countries be burdened by the cost of resolving banks in other member states? To what extent will central tackling of resolutions burden the Single Resolution Fund? How will this Fund be financed? No questions, no answers about those hot issues. The Eurobarometer didn’t want to bother citizens with difficult questions.

Answering those questions involves a much more advanced sense of a common future, than asking the citizens about ‘acting together’ in a completely abstract manner. EU politicians didn’t take any trouble to explain to their voters what does this ‘acting together’ involves. Consequently, the survey had nothing important to tell.

Meaningless survey

According to the findings of the Eurobarometer, “One in two Europeans reckons they would be better protected against the current economic crisis if their country worked together with another Member State on appropriate measures. This is in stark contrast to two-thirds of Brits who feel the UK should act on its own. At the same time the survey shows respondents in Eurozone countries in particular are more positive about coordinated action”.

This kind of response is meaningless because the questions asked have no concrete content at all. That’s why the answers given were quite predictable. The British have always been negative about the EU and Eurozone citizens are by definition more sensitive to joint action, because the euro now constitutes the base of their economic existence, or so they believe.

However, there is one more important drawback of the Parliament Press release communicating this Eurobarometer. Quite shamelessly, it restricts the information about what the citizens think about the single currency, to non-Eurozone citizens’ responses. It goes like this: “For a majority of respondents from outside the Eurozone the future of the single currency looks bright. 7 of 11 non-Eurozone countries are positive about their country introducing the euro by 2025.”

Unacceptable omission

It’s completely unacceptable to restrict the reference to citizens’ opinion about the euro, to non-Eurozone responders. In this way, it is evident what some Parliamentarians want to hide. It’s the disillusionment of the majority of citizens in the south about the euro.

In any case, this Eurobarometer survey is one of the most biased ever conducted and communicated. Of course this is the upper part of the iceberg. Beneath the water it’s the EU Parliamentarians who want to avoid informing the European Union citizens about the present stalemates in the Eurozone and the cost to resolve them.

Advertising

the sting Milestone

Featured Stings

Can we feed everyone without unleashing disaster? Read on

These campaigners want to give a quarter of the UK back to nature

How to build a more resilient and inclusive global system

Stopping antimicrobial resistance would cost just USD 2 per person a year

Marco Polo’s Dream

The European Brain Drain: hard facts and harder truths

MEPs take stock of the EU’s foreign, security and defence policy priorities

Who the US and China have trade disputes with

Youth not prioritised in new Commission

UN News Daily #UNGA Guide: Mandela Peace Summit, Global Goals, Youth and Yemen

COP21 Business update: Companies urge now for carbon pricing as coal is still a big issue

Dieselgate: Parliament calls for mandatory retrofits of polluting cars

Sahel States need international support ‘now more than ever’– UN peacekeeping chief

Venezuela migrant crisis begs a ‘coherent, predictable and harmonized’ response: UNHCR

Siemens-Alstom merger: Will the EC succumb to Franco-German pressures for the sake of May’s EU Elections?

UN chief outlines solutions to defeat ‘four horsemen’ threatening our global future

The European Parliament x-rays the troika’s doings

Copyright: MEPs back provisional agreement

We probably should go back to the therapy in Primary Healthcare

Children in crisis-torn eastern Ukraine ‘too terrified to learn’ amid spike in attacks on schools

More than 90% of the world’s children are breathing toxic air

Sweden gives all employees time off to be entrepreneurs

From low-earth orbit, ‘envoys’ of humanity join UN space forum

Love Affair with Some(one)/(thing)

These airports are now opening their doors to non-fliers

Khashoggi murder trials must public and meet international standards, UN expert urges

Gender is where the feminist and LGBTI movements meet. Here’s why

Yemen: ‘Living hell’ for all children, says UNICEF; Angelia Jolie calls for ‘lasting ceasefire’

The EU Consumer Policy on the Digital Market: A Behavioral Economics View

4 ways 3D printing can revolutionize manufacturing

Why the ocean holds the key to sustainable development

More than 3,400 classrooms damaged or destroyed by Cyclone Idai in Mozambique, says UN Children’s Fund

6th Edition of India m2m + iot Forum 2019 concluded, in association with The European Sting

If a virus could sing … Could this musical version of COVID-19 help us defeat the disease?

UN rushes to deliver aid as key Yemeni port city is ‘shelled and bombarded’

More women and girls needed in the sciences to solve world’s biggest challenges

GDPR and the World Cup have these 4 things in common

These four countries are the happiest in the European Union

A Sting Exclusive: “The competitiveness of Europe depends on a digital single market”, EPP President Joseph Daul highlights live from European Business Summit 2015

The EU risks trade relations with China over the Tata hype about steel

A new proposal breaks the stalemate over the Banking Union

3 charts that show how global carbon emissions hit a record high in 2018

Water scarcity is a growing problem across the Middle East. Is this how we solve it?

Why is the EU launching a doomed policy in stopping immigrant waves? What are the real targets?

Cape Town almost ran out of water. Here’s how it averted the crisis

UN cultural agency removes birthplace of Jesus from its list of heritage sites in danger

‘Once-in-a-generation opportunity’ will be squandered, warns Guterres, unless social, economic, environmental challenges are met

Migration: Commission takes action to find solutions for unaccompanied migrant children on Greek islands

Eurozone to enter the winter…

Restoring prospect of peace in Middle East is ‘our shared responsibility’ UN envoy tells Security Council

ECB to people: Not responsible if you lose money on Bitcoin, your governments are

Yellow vests, rising violence – what’s happening in France?

Aidex: the Global Humanitarian and Development Aid Event

A European student just sets the question of the day: What kind of education policies are missing in Europe?

‘We are facing a learning crisis’, UN chief warns on International Youth Day

High unemployment to continue haunting the EU

Want to cut greenhouse gas emissions? Look to digital technologies

European Commission adopts new list of third countries with weak anti-money laundering and terrorist financing regimes

What’s the latest on coronavirus antibody tests?

There are 3 barriers blocking good menstrual hygiene for all women. Here’s how we overcome them

ECB to buy corporate bonds: Will government financing be the next step?

Global leaders and companies pledge to reduce the gender pay gap by 2030

One-in-five suffers mental health condition in conflict zones, new UN figures reveal

Ghana will grow faster than any other economy this year, the IMF says why

More Stings?

Advertising

Speak your Mind Here

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s