Latest news with #Eurobarometer
Yahoo
4 days ago
- Business
- Yahoo
Global chaos and looming trade wars set the stage for a ‘global euro moment' as trust in the EU surges
Trust in the European Union has soared to a nearly two-decade high, per the latest Eurobarometer poll released by the EU, as Europe emerges as a symbol of stability amid global trade chaos. The barometer results are a vote of confidence in Europe's standing against other major world powers at a time when many parts of the world are either ravaged by war or grappling with unprecedented trade tensions. It's also given the region's most prominent political figures a chance to toot Europe's horn, including Christine Lagarde, head of the European Central Bank. A raft of U.S. policy changes in recent months have spooked investors, leading to them limiting their exposure to the dollar. Instead, many have flocked to the euro and European markets more broadly. Days after President Donald Trump announced his initial tranche of tariffs, the euro rose to a three-year high against the U.S. dollar. 'The ongoing changes create the opening for a 'global euro moment',' Lagarde said earlier this week during a lecture in Berlin. She added that for the currency to leverage the status quo, Europe must build on its geopolitical, economic, and legal base. 'As a major actor in global trade, Europe already has a key ingredient of a strong geopolitical foundation, creating the potential for a virtuous circle of euro internationalization to unfold.' The British pound has also benefited from the volatility in the U.S. since the start of 2025. These rises are noteworthy as they follow several years of dollar strength, so much so that most metrics overvalue it, Goldman Sachs pointed out earlier in May. 'We're now seeing a bit of a reversal where people are more optimistic about the return and earnings prospects in Europe,' the investment bank noted. Months of erratic policies have dampened the U.S. dollar's status as a safe-haven currency, creating room for alternatives like the euro. A confluence of reasons explains the new injection of hope in the European region, including greater fiscal spending in Germany driven by new government reforms and defense outlays that will prepare Europe for the changing world order. Such forms of stimulus have helped European assets and the euro outperform their peers as they elevate the region's growth prospects. Europe's financial standing also feeds into its citizens' trust in the institution, versus declining trust in national governments, underscoring the bloc's importance even despite a marked growth in Euroscepticism recently. To be sure, the Eurobarometer survey involved over 26,000 interviews between March 26 and April 22 when concerns over Trump's tariffs and their fallout were highest. Since then, there have been flare-ups, adding to volatility—for instance, Trump threatened to impose 50% tariffs on the EU as their negotiations with the region were progressing slowly. He then delayed the deadline on the sharp levy to July 9 after 'a very nice call' with European Commission President Ursula von der Leyen. The EU is under pressure to strike a deal that will protect it from the harsh tariff impact while appeasing Trump into not jacking up duties in the future. It previously threatened reciprocal tariffs but postponed them after the American president suspended any charges for three months. The state of tariffs is uncertain at best. On Wednesday, a U.S. federal court blocked the Trump administration's sweeping tariff measures that will elevate the cost of imports. Economists aren't sure the buck stops here though. 'We haven't heard directly from President Trump on the matter yet, so it's unclear how the administration might respond going forward,' Deutsche Bank's Jim Reid wrote in a note Thursday. 'This could also have broader revenue implications, as they had been hoping to use tariffs as a source of revenue to fund other tax cuts.' The U.S. dollar jumped following the ruling, and Goldman Sachs' global foreign exchange strategist wrote in a note that 'it is likely to provoke broader relief across risk markets.' But given that the underlying reason for the dollar's pain this year has been oodles of uncertainty, that doesn't look like it's changing anytime soon. 'There's an initial reaction of a stronger dollar and weaker yen. However, considering judicial processes like appeals, I don't expect a continuous rise in the dollar,' said Hirofumi Suzuki, chief FX strategist at SMBC, according to Reuters. That gives Europe more opportunities to cash in on the moment and maybe, in time, seize the 'global euro moment' that Lagarde has identified. This story was originally featured on
Euronews
5 days ago
- Business
- Euronews
Trust in EU at 18-year high but fears for economy rising
More than half of Europeans - 52% - tend to trust the European Commission and EU, the highest result since 2007, according Eurostat's most recent barometer, but the survey also recorded rising fears for the economic outlook in Europe. The survey showed 43% of EU citizens continue to have a positive image of the EU, while 38% have a neutral image and 18% have a negative image of the EU. Eurobarometer surveys are conducted regularly on the basis of face to face research across the member states, providing a snapshot of public opinion. Nearly nine in ten Europeans (88%) agreed that there should be more rules-based cooperation between countries and regions of the world and 78% said they were concerned about the EU's defence and security in the next five years. For the first time since 2004 the percentage in favour of a common defence and security policy among EU member states topped four-fifths at 81%. However, when it came to the perception of the situation of the European economy, 44% of Europeans found it good, down by four percentage points, while 48% found it bad, up by five percentage points. According to Europeans, the EU should take measures in the medium-term in the area of security and defence (39%), followed by the economy (29%), migration (24%) and climate and the environment (24%). 74% in the EU as a whole and 83% in the euro area were for the single currency, the euro, representing the highest support ever. Russia's invasion of Ukraine continued to be considered as the most important issue at EU level (27%) followed by the international situation at 24% and security and defence at 20%, while 77% of European respondents agreed that Russia's invasion of Ukraine is a threat to the security of the EU. Three quarters of respondents (75%) - the highest level in more than two decades - said they felt they are citizens of the EU. In addition, more than six in ten EU citizens (62%) were also optimistic about the future of the EU. The Eurobarometer survey was conducted between late March and late April 2025 across the 27 Member States, with 26,368 EU citizens interviewed face-to-face. The findings reflected a trend for boosted perceptions for the EU amid a tense geopolitical backdrop. In March a Eurobarometer survey found some 74% of those surveyed said that their country benefits from EU membership, the best result recorded since the question was first introduced in 1983.
Yahoo
6 days ago
- Business
- Yahoo
Trust in European Union at highest since 2007, poll shows
By Gianluca Lo Nostro (Reuters) -Trust in the European Union and its institutions has risen to an almost two-decade high, a report released on Wednesday shows, as U.S. President Donald Trump upends global trade and foreign policy. The Eurobarometer poll by the European Commission shows 52% of Europeans trust the EU, the highest figure since 2007, with young people aged 15-24 expressing the strongest confidence at 59%. Only 36% of respondents said they trust their national governments. The findings come amid unprecedented tensions between the bloc and the U.S. and just days after Trump delayed threatened 50% tariffs on EU imports until July 9, allowing for continued negotiations between Washington and Brussels. Trump was not mentioned directly in the questions. The survey was conducted between March 26 and April 22 across all 27 EU member states, with 26,368 face-to-face interviews. Support for the euro reached the highest ever, with 74% of all EU citizens and 83% of euro zone residents backing a European economic and monetary union with one currency. Despite strong support for the common currency, Europeans remain divided on current economic conditions, with 44% describing the European economy as good, but 48% viewing it negatively. However, 43% expect economic conditions to remain stable over the next year. The poll also reveals strong support for other areas of EU integration, particularly in security and defence, where 81% of respondents favour a common policy among member states - the highest level since 2004. The EU on Tuesday approved the creation of a 150 billion-euro ($170 billion) arms fund, driven by fears of a Russian attack in the coming years and doubts about U.S. security commitments to the continent. Support for the EU's Ukraine policy remains strong, with 77% of respondents viewing Russia's invasion as a threat to EU security and 72% backing economic sanctions against Russia. "Russia's invasion of Ukraine continues to be considered as the most important issue at EU level," Eurobarometer said. ($1 = 0.8836 euros)
Straits Times
6 days ago
- Business
- Straits Times
Trust in European Union at highest since 2007, poll shows
FILE PHOTO: European Union flags flutter outside the EU Commission headquarters in Brussels, Belgium March 18, 2025. REUTERS/Yves Herman/File Photo Trust in European Union at highest since 2007, poll shows Trust in the European Union and its institutions has risen to an almost two-decade high, a report released on Wednesday shows, as U.S. President Donald Trump upends global trade and foreign policy. The Eurobarometer poll by the European Commission shows 52% of Europeans trust the EU, the highest figure since 2007, with young people aged 15-24 expressing the strongest confidence at 59%. Only 36% of respondents said they trust their national governments. The findings come amid unprecedented tensions between the bloc and the U.S. and just days after Trump delayed threatened 50% tariffs on EU imports until July 9, allowing for continued negotiations between Washington and Brussels. Trump was not mentioned directly in the questions. The survey was conducted between March 26 and April 22 across all 27 EU member states, with 26,368 face-to-face interviews. Support for the euro reached the highest ever, with 74% of all EU citizens and 83% of euro zone residents backing a European economic and monetary union with one currency. Despite strong support for the common currency, Europeans remain divided on current economic conditions, with 44% describing the European economy as good, but 48% viewing it negatively. However, 43% expect economic conditions to remain stable over the next year. The poll also reveals strong support for other areas of EU integration, particularly in security and defence, where 81% of respondents favour a common policy among member states - the highest level since 2004. The EU on Tuesday approved the creation of a 150 billion-euro ($170 billion) arms fund, driven by fears of a Russian attack in the coming years and doubts about U.S. security commitments to the continent. Support for the EU's Ukraine policy remains strong, with 77% of respondents viewing Russia's invasion as a threat to EU security and 72% backing economic sanctions against Russia. "Russia's invasion of Ukraine continues to be considered as the most important issue at EU level," Eurobarometer said. REUTERS Join ST's Telegram channel and get the latest breaking news delivered to you.
Reuters
6 days ago
- Business
- Reuters
Trust in European Union at highest since 2007, poll shows
May 28 (Reuters) - Trust in the European Union and its institutions has risen to an almost two-decade high, a report released on Wednesday shows, as U.S. President Donald Trump upends global trade and foreign policy. The Eurobarometer poll by the European Commission shows 52% of Europeans trust the EU, the highest figure since 2007, with young people aged 15-24 expressing the strongest confidence at 59%. Only 36% of respondents said they trust their national governments. The findings come amid unprecedented tensions between the bloc and the U.S. and just days after Trump delayed threatened 50% tariffs on EU imports until July 9, allowing for continued negotiations between Washington and Brussels. Trump was not mentioned directly in the questions. The survey was conducted between March 26 and April 22 across all 27 EU member states, with 26,368 face-to-face interviews. Support for the euro reached the highest ever, with 74% of all EU citizens and 83% of euro zone residents backing a European economic and monetary union with one currency. Despite strong support for the common currency, Europeans remain divided on current economic conditions, with 44% describing the European economy as good, but 48% viewing it negatively. However, 43% expect economic conditions to remain stable over the next year. The poll also reveals strong support for other areas of EU integration, particularly in security and defence, where 81% of respondents favour a common policy among member states - the highest level since 2004. The EU on Tuesday approved the creation of a 150 billion-euro ($170 billion) arms fund, driven by fears of a Russian attack in the coming years and doubts about U.S. security commitments to the continent. Support for the EU's Ukraine policy remains strong, with 77% of respondents viewing Russia's invasion as a threat to EU security and 72% backing economic sanctions against Russia. "Russia's invasion of Ukraine continues to be considered as the most important issue at EU level," Eurobarometer said. ($1 = 0.8836 euros)
