American’s Focus on Europe Crisis!

The Washington, DC Pew Research Center is an independent, non-partisan public opinion research organization that studies American attitudes toward politics, the press and public policy issues. It conducts both monthly polls on political and major policy issues, and weekly surveys aimed at gauging the American public’s interest in and reaction to major news events. Commentary: The article headline needs to be looked at as somewhat ‘sensationalist’, absent the Pew Research Center updating its December 2011 survey to a current date – and either confirming or contradicting the response statistics then reported. This is because a great deal has happened by way of ‘events crystallization’ since the second week of December 2011, including: Greece has had a ‘soft default’ on its sovereign debt, is now without a Federal Government pending mid-June elections, prognostications for its economy are bleaker now than they were but six months ago, and there is far more focus on the possibility of a Greek withdrawal from the Eurozone today than there was six months ago;

• Spain’s economic problems are now much more broadly reported and recognized today than they were in December 2011;
• Negative populace reaction throughout the Eurozone (in particular) to Government austerity measures is far more evident today than it was six months ago. Witness goings-on in France, Greece, Spain and The Netherlands, to name but four of the seventeen Eurozone countries;
• The United Kingdom and a number of Eurozone countries have now re-dipped into ‘technical recession’ (being two months of consecutive negative GDP statistics);
• The European Central Bank and the International Monetary Fund both have committed substantial funds to Eurozone countries in an attempt to shore up their economies; and,
• There is more ‘contagion talk’ and ‘contagion concern’ evident today than there was six months ago

As a consequence, while a very recent response from an American poll that suggests 17% of American’s are following European economic problems closely is interesting, it is:

• Hardly a compelling reason to say that the American public is ‘yawning’ over what currently is going on in Europe;
• Perfectly understandable, having regard to the unemployment and low GDP growth in the U.S., that the U.S. populace is more focused on what is going on economically in America than it is on what is going on economically in Europe.

To determine whether American’s see Europe’s economic problems as a ‘Major Threat’, the Pew Research Center ought to repeat its December 2011 survey now, and publish the results. Even if a current survey reports the same bi-partisan 46% of American’s who think Europe’s economic problems are a ‘Major Threat’ is reported, that is a significant percentage. Public Yawns at European Economic Woes Source: Pew Research Center, May 17, 2012 Reading time: 3 minutes