So, yesterday I parsed the EU sentiment data from the EU's early expansion period. And what we saw was rising support for the EU right up until 1991. But after that time, support for the EU collapsed and has never recovered. I want to look at the Eurobarometers since that time to tease out why.
1996 was the low before the sovereign debt crisis
When you look at EU sentiment data, what's striking is that pro-EU sentiment plunged precipitously from 71% to 46% in the 5 years between 1991 and 1996. The magnitude of the decline is far and away the worst in the dataset. So I wanted to see what people were saying in the Spring 1997 Eurobarometer 47 to explain why they were so downbeat. Here's what I found.
Support for the EU gained universally before 1991. And it plunged pretty much everywhere th...
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Edward Harrison is the founder of Credit Writedowns and a former career diplomat, investment banker and technology executive with over twenty five years of business experience. He has also been a regular economic and financial commentator in print and on television for the past decade. He speaks six languages and reads another five, skills he uses to provide a more global perspective. Edward holds an MBA in Finance from Columbia University and a BA in Economics from Dartmouth College.