Public support for institutionalised solidarity: Europeans' reaction to the establishment of eurobonds
Gianmarco Daniele and
No SP II 2012-112, Discussion Papers, Research Professorship & Project "The Future of Fiscal Federalism" from WZB Berlin Social Science Center
As part of a collective answer to the threat posed by the Great Recession to several Member States' public finances, the European Commission's November 2011 Green Paper discussed the introduction of Stability Bonds (or Eurobonds) that would partially or completely replace the national bonds of the Euro Area's Member States. Having triggered fierce debates among policy-makers across and within European countries, this article investigates European citizens' opinions about Eurobonds, and the step towards further European fiscal integration they represent. Using a novel dataset derived from the Eurobarometer surveys, we show that, at the individual level, political ideology, distrust towards EU institutions and altruism appear more relevant than self-interest in shaping preferences for/against Eurobonds. However, at the country level, opinion towards Eurobonds strongly reflects the expected costs/benefits from Eurobonds' introduction for ones country. Finally, a notable intra-generational divide exists across young citizens of PIIGS and non-PIIGS countries, reflecting the diverse expected future costs and benefits of Eurobonds across both regions.
Keywords: Public opinion; Eurobonds; European integration; Eurobarometer (search for similar items in EconPapers)
References: View references in EconPapers View complete reference list from CitEc
Citations: Track citations by RSS feed
Downloads: (external link)
This item may be available elsewhere in EconPapers: Search for items with the same title.
Export reference: BibTeX
RIS (EndNote, ProCite, RefMan)
Persistent link: https://EconPapers.repec.org/RePEc:zbw:wzbfff:spii2012112
Access Statistics for this paper
More papers in Discussion Papers, Research Professorship & Project "The Future of Fiscal Federalism" from WZB Berlin Social Science Center Contact information at EDIRC.
Bibliographic data for series maintained by ZBW - Leibniz Information Centre for Economics ().