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Germans, Britons, French Opposed to More Bailouts, Poll Shows

By Fergal O’Brien - 2011-08-15T16:53:27Z

Germans, French and Britons are opposed to more bailouts of euro-area nations unable to deal with widening budget deficits, according to a Bloomberg/YouGov Plc poll.

Asked if bailouts should be used again “even if they were necessary to keep the euro zone intact,” 59 percent of Germans disagreed and 20 percent agreed, according to the poll released today in London. In France, 47 percent opposed using bailouts again, versus 27 percent in favor, while the split was 65 percent to 13 percent in the U.K.

Europe’s debt crisis is also taking its toll on political leaders, the poll showed. In Germany, 75 percent of those surveyed disapprove of Chancellor Angela Merkel’s actions, while 47 percent in France disapprove of their government. The poll also showed that 58 percent of Germans want to eject Greece from the currency region, an opinion that was shared by 45 percent of French people surveyed.

“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,” Michael Nardis, head of YouGov Investment Products, said in a statement. “Investors should consider putting some discount factor on the likelihood of further bailouts given the political climate.”

While there is “significant support” for expelling Greece from the common currency, France and Germany remain supportive of the euro itself, according to YouGov. Fifty-three percent of French supported staying in the euro area, with 31 percent favoring withdrawal. In Germany, 48 percent want to stay, versus 44 percent who want to leave.

In the U.K., 85 percent said they disapprove of joining the euro, while 61 percent oppose such a move in Denmark.

YouGov Plc polled 2,700 adults in the U.K., 1,061 in Germany, 1,007 in Denmark and 1,014 in France. The survey was carried out online between Aug. 9 and Aug. 12.

To contact the reporter on this story: Fergal O’Brien in London at fobrien@bloomberg.net

To contact the editor responsible for this story: Craig Stirling at cstirling1@bloomberg.net