June 11, 2012

Most in Spain Blame Country’s Banks for Current Economic Problems

78%

More than three-quarters (78%) of Spaniards blame their country’s banks and financial institutions for current economic problems, compared to 59% who say it is their government’s fault.

One of the latest chapters in the economic troubles facing the European Union countries has been the crisis in Spain’s banking and financial sectors. A Pew Global Attitudes Project survey conducted March 20 –April 2, before the latest developments there, found that 78% of Spaniards blamed their banks and financial institutions for the country’s current economic problems while 59% said the government was most at fault.

Only 6% in Spain consider economic conditions in the country to be very or somewhat good, down from the 65% who felt positively about the economy in 2007 – before the global financial crisis took hold. Nearly half (47%) expect the economic situation to worsen in the next 12 months, while 27% say it will remain the same; 25% believe it will improve.

On June 9, Spain agreed to accept a bailout for its struggling banks. The Global Attitudes survey also found that most in Spain (90%) said other European Union governments should provide financial assistance to EU countries experiencing major financial problems. That view is shared by publics in Greece (91%) and Italy (79%), both nations facing economic troubles. But such aid is less popular in countries that have been aid donors, such as Germany (49%), France (44%) and Britain (34%). Read More