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Mass Politics in Tough TimesOpinions, Votes and Protest in the Great Recession$
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Larry Bartels and Nancy Bermeo

Print publication date: 2014

Print ISBN-13: 9780199357505

Published to Oxford Scholarship Online: April 2014

DOI: 10.1093/acprof:oso/9780199357505.001.0001

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Economic Insecurity and Public Support for the Euro

Economic Insecurity and Public Support for the Euro

Before and During the Financial Crisis

Chapter:
(p.128) 5 Economic Insecurity and Public Support for the Euro
Source:
Mass Politics in Tough Times
Author(s):

Sara B. Hobolt

Patrick Leblond

Publisher:
Oxford University Press
DOI:10.1093/acprof:oso/9780199357505.003.0005

In light of the current economic crisis, this chapter investigates the relationship between economic insecurity and public support for the European single currency, the euro, across 17 eurozone member states over the period 1999–2012. The chapters findings show that economic insecurity negatively affects euro support but only in “normal” times. When economic conditions are severe, such as during the Great Recession, economic insecurity tends instead to favor the euro. The chapter argues that this is because the relative economic uncertainty associated with euro exit or eurozone collapse is even greater in the eyes of most citizens than the cost of remaining in the euro. Outside the eurozone, where the public feels it has less to lose from a eurozone breakdown, support the euro has dramatically declined.

Keywords:   economic crisis, euro, European union, public opinion

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