In Europe, what started out four years ago as a sovereign debt crisis, morphed into a euro currency crisis and led to the fall of several European governments, has now triggered a full-blown crisis of public confidence: in the economy, in the future, in the benefits of European economic integration, in membership in the European Union, in the euro and in the free market system. The public is very worried about joblessness, inflation and public debt, and those fears are fueling much of this uncertainty and negativity.

Europeans largely oppose further fiscal austerity to deal with the crisis. They are divided on bailing out indebted nations. They oppose Brussels’ impending oversight of national budgets. At the same time, Europeans who now use the euro have no desire to abandon it and return to their former currency. And anti-German sentiment is largely contained to Greece, at least for the moment.

The crisis has exposed sharp differences between some Europeans. Germany is the most admired nation in the EU and its leader the most respected. The Germans are judged to be Europe’s most hardworking people. And the Germans are the strongest supporters of both European economic integration and the European Union.

Greece is the polar opposite. None of its fellow EU members surveyed see it in a positive light. In turn, Greeks are among the most disparaging of European economic integration and the harshest critics of the European Union. And they see themselves as Europe’s most hardworking people.

These are among the key findings from a new survey by the Pew Research Center’s Global Attitudes Project, conducted in eight EU nations and the United States among 9,108 respondents from March 17 to April 16.

European Unity in Trouble

The European project, which began with the creation of a small Common Market in 1957, grew to a larger Single Market in 1992 and then created a single currency in 2002, is a major casualty of the ongoing European sovereign debt crisis.

Across the eight European Union member countries surveyed, a median of only 34% think that European economic integration has strengthened their country’s economy. Indeed, majorities or near majorities in most nations now believe that the economic integration of Europe has actually weakened their economies. This is the opinion in Greece (70%), France (63%), Britain (61%), Italy (61%), the Czech Republic (59%) and Spain (50%). Only in Germany (59%) do most people say that their country has been well served by European integration.

Among the five euro area nations surveyed, a median of only 37% believes having the euro as their currency has been a good thing. This includes just 30% of the Italians and 31% of the French. At the same time, the three non-euro zone countries surveyed are quite happy they have kept their own currencies, including nearly three-quarters of the British (73%).

A median of about four-in-ten Europeans (39%) surveyed think favorably of the European Central Bank, the institution at the center of the debate over how to deal with the euro crisis. That includes just 15% of the Greeks, 25% of the Spanish and only 40% of the Germans.

Moreover, as public criticism of European unity grows, faith in its benefits and institutions erodes. Since 2009, belief that European economic integration, the raison d’être of the European Union, has weakened their national economy has grown by 22 percentage points in the Czech Republic, 20 points in Italy, and 18 points in Spain. And, since 2007, the favorability of the European Union as an organization has fallen 20 points in Spain and the Czech Republic, 19 points in Italy and 14 points in Poland.

Among the Europeans surveyed, only in Germany is there a growing majority that believes that integration has been an economic boon for the nation and a strong majority that says EU membership has been good. And only in Poland, a non-euro zone country that is also not a member of the European Central Bank, does more than half have a favorable opinion of that institution.

Nevertheless, the symbols of a united Europe retain public support. Despite the falloff in EU favorability, most Europeans surveyed still see the European Union in a positive light, including 69% of the Poles, 68% of the Germans and 60% of the French and Spanish. And more than half in all five euro area countries surveyed – including 71% of the Greeks, 69% of the French and 66% of the Germans – would like to keep the euro as their currency and not return to the drachma, the franc, the mark or other national currencies.

The euro crisis has also undermined support for free market capitalism. Solid majorities in only three of the eight countries surveyed – Germany 69%, Britain 61%, and France 58% – still believe that people are better off in a free market system. Moreover, since 2007, before the global financial crisis began, belief in capitalism is down 23 percentage points in Italy, 20 points in Spain, 15 points in Poland, 11 points in Britain, and nine points in the Czech Republic. In comparison, over that same time frame backing for the free market has remained relatively unchanged in the United States.

Deepening Gloom

As might be expected in a time of turmoil, Europeans are profoundly dissatisfied with the direction their countries are taking. This is nothing new. Europeans have been consistently downbeat about the state of their nations for the entire 11 years the Pew Global Attitudes Project has been surveying in Europe. But this year the mood is particularly grim. Miniscule numbers of Greeks (2%), Spanish (10%) and Italians (11%) say their country is on the right course. And satisfaction is down a whopping 41 percentage points in Spain since 2007, before the crisis began. The Germans, however, see things quite differently. More than half (53%) are satisfied with Germany’s trajectory. And such sentiment has brightened by 20 points in the last five years.

Dissatisfaction with their country’s direction tracks Europeans’ bleak assessment of their national economies. A median of just 16% of Europeans surveyed think their economy is performing well. The Greeks (2%), the Spanish (6%) and the Italians (6%) are particularly despairing. Again the Germans differ – 73% give strong marks to their economy. Europeans’ economic assessments have not changed that much since 2011. But there has been a profound negative turn in economic sentiment since 2007. Positive views of the economy have fallen 59 points in Spain and 54 points in Britain in the last five years. Again the Germans are the outliers. They are 10 points happier about the state of their economy than they were in 2007.

This concern about the economy is helping fuel frustration with the creation of a unified Europe. In a number of countries, strong majorities of those who think their economy is in bad shape also believe that European integration has been bad for their country, including two-thirds of the French (67%) and the Germans (67%) who are concerned about the economy and nearly that many Czechs (65%) and British (64%). Similarly, among those Germans who think the economy is doing poorly, 54% think that having the euro as their currency has been bad for Germany. A plurality (44%) of the French who are worried about their economy also are critical of the euro.

Europeans are divided over who is to blame for their economic woes. Among those who say their economy is bad, the Greeks (87%), Italians (84%), Poles (90%) and Czechs (91%) complain that their own governments are responsible for current economic distress. The French (74%), and Spanish (78%) fault the banks and other major financial institutions. The British and the Germans blame both. Such sentiments have not changed much in the last year. Notably, Europeans do not blame the United States.

A Bleak Future

Most Europeans have little hope for their economy’s future and do not think their children will have an easy time improving their lot, yet they acknowledge that, for all their current and possible future troubles, today’s generation is better off than their parents.

Across the board, Europeans expect the adverse effects of the euro crisis to continue for the immediate future. A median of 22% of those surveyed see the economy improving over the next year. The least optimistic are the Greeks (9%). The most optimistic are the British, but still only a third (32%) have a positive outlook. By comparison, Americans (52%) are 30 points more upbeat about the trajectory of the economy than are Europeans.

Among the EU nations surveyed, a median of 47% seriously doubt that their children will be able to climb the economic ladder. Such generational pessimism is particularly profound in those societies most hard hit by the euro crisis. Nearly three-quarters (73%) of the Greeks, 69% of the Spanish and 62% of the Italians worry it will be very difficult for young people in their countries to get a better job and to become wealthier than their parents. Notably, Germans are less pessimistic about economic mobility than are Americans.

Despite their glum assessment of current economic conditions and their doubt about economic prospects for their country and their children, Europeans do consider themselves better off than the previous generation. A median of nearly six-in-ten (59%) says their standard of living is superior to that of their parents. This is comparable to Americans’ (60%) view. Only in France (48%) does less than a majority see themselves as better off.

Pervasive Worry

Despondent about the economy, pessimistic about their economy’s prospects and worried about their children’s futures, Europeans see economic threats on all sides. Nearly nine-in-ten Europeans (88%) surveyed say unemployment poses a major threat to their economic well-being. This includes almost all the Spanish (97%) and all the Greeks (97%). Eight-in-ten (81%) think their country’s national debt is a threat, including again 97% of Greeks. And three-in-four (74%) Europeans surveyed believe rising prices could undermine their well-being. Inflation is particularly a concern in Greece (93%) and Italy (89%).

Greek and Spanish concern about joblessness is hardly surprising. The Greek unemployment rate was 21.7% in the months prior to the Pew Global survey. And in Spain it was 24.1% the month of the poll. But 70% of Germans are also worried about the lack of jobs even though Germany has a jobless rate of 5.6%, the lowest among the eight European countries surveyed. Similarly, Greek (97%) and Italian (81%) concern about the size of their national debt is in line with the 160.8% debt-to-GDP ratio in Greece and the 120.1% debt-to-GDP ratio in Italy. But 82% of the Czechs are also worried about their public indebtedness even though their debt to GDP ratio is only 41.5%. Most strikingly, 93% of the Greeks are concerned about rising prices even though their inflation rate is only 2.4%.

Americans also fret about all of these economic challenges. But they are markedly less worried than Europeans about both the national debt (71% concerned compared with 81% in Europe) and inflation (64% worried compared with 74% in Europe).

Little Faith in Leaders or Policies

Europeans have little faith in the ability of most of their leaders to deal with current economic challenges. Nor do they put much stock in many of the economic policy options now being pursued.

At the time the survey was taken in late March and early April, only minorities of the public in Spain (45% for Prime Minister Mariano Rajoy), Greece (32% for Prime Minister Lucas Papademos), Poland (25% for Prime Minister Donald Tusk) and the Czech Republic (25% for Prime Minister Petr Necas) thought their country’s leader was doing a good job handling the European economic crisis. About half of the British (51%) gave Prime Minister David Cameron good marks on this issue, while 48% of Italians said the same about Prime Minister Mario Monti. But weeks before he lost his bid for reelection, French President Nicolas Sarkozy still enjoyed the confidence of 56% of the French public for his management of the crisis.

In stark contrast, 80% of Germans thought Chancellor Angela Merkel had done a good job as an economic manager. Such appreciation for her acumen extends across most of the European countries surveyed. Strong majorities in six of the other seven nations said she was doing a fine job. Only the Greeks demurred. Just 14% gave her good marks.

Despite their widespread concern about national debt, Europeans evidence little support for further fiscal austerity in their ongoing debate about government spending. In five of seven nations, clear majorities say fiscal belt tightening is about right or has gone too far. This is particularly true in Spain (73%) and Britain (71%).

But Europeans are divided on the question of whether financial assistance should be provided to EU countries that run into major financial difficulties. In richer EU member countries – Britain (62%), France (56%) and Germany (48%) – close to half or more of the population opposes their government providing bailouts. As might be expected, in poorer EU nations, most say other EU governments should provide assistance to struggling nations.

There is general resistance to the recent decision to grant the European Union the authority to exercise limited oversight of national budgets. Three-quarters of the British (75%), Greeks (75%) and Czechs (73%) oppose this loss of national sovereignty.

A Europe Divided?

At a time when it faces its most serious economic challenge since its creation, the European Union is, in some ways, fractured into multiple, often discordant, elements. But these divisions do not always cut along presumed lines. Germans stand alone in their perceptions of their recent experience, their attitudes toward European unity and, in the eyes of their fellow Europeans, in terms of their character traits. But, contrary to their popular portrayal, the Germans do not differ markedly from other Europeans on policy issues. On many counts, it is the Greeks who are the most isolated in Europe. Meanwhile, a north-south split within Europe is far from clear cut.

The public mood in Germany is considerably more positive than elsewhere in Europe. They are the only Europeans surveyed who are satisfied with the direction of their country and who think their economy is doing well. Germany is the only country where a majority of the population currently thinks that European economic integration has strengthened the national economy. Germans are most likely, by far, to say that EU membership has been a good thing. They are the least concerned about the lack of jobs, rising prices and the power of unions. Germany is the most admired country in the EU and its chancellor the most respected leader. The Germans are seen by others as the most hard-working of Europeans and as the least corrupt.

But in public policy debates – over austerity, bailouts and budgetary sovereignty – German attitudes do not differ greatly from those of other Europeans.

Anti-German sentiment is most prevalent in Greece, where a majority (78%) has an unfavorable opinion of Germany, with nearly half (49%) of the population saying they have a very unfavorable view. Greece is the only country where a majority (84%) thinks German Chancellor Angela Merkel is doing a bad job dealing with the economic crisis. And they are intensely critical: 57% say she is doing a very bad job. The Greeks are, by far, the most likely to think that the power wielded over their economy by Germany and other European Union countries poses a major threat to their economy. And the Greeks are the least likely among Europeans surveyed to say the Germans are hardworking.

Their anti-German sentiment is only one measure of how Greeks and their country are isolated within Europe. None of Greece’s fellow EU members hold a positive view of the Aegean nation. And, since 2010, favorable views of Greece have fallen by 28 points in Poland, 20 points in France, 16 points in Spain, 13 points in Germany and 12 points in Britain.

The Greeks are the least happy with the direction of their country and the most upset about the state of their national economy among the European populations surveyed. They are the least optimistic about the economy and the most pessimistic about economic mobility. They are among the most fearful about unemployment, debt and inflation and the least supportive of the free market system. Greeks are the most critical of European economic integration and the European Central Bank. They are the most supportive of bailouts and among the most opposed to outsiders looking over their shoulder as they prepare their national budget. At the same time, seven-in-ten Greeks (71%) have a favorable view of their own country. Only the Germans (82%) and the British (78%) are more nationalistic. And 60% of the Greeks see themselves as the most hardworking people in Europe.

The north-south divide in Europe, a topic of great concern in policy circles in Brussels, is by no means uniform. No country in northern Europe has a positive view of Greece. But Britain, France and Germany still hold positive views of Italy and Spain.

Southern Europeans are more dissatisfied than northerners with the direction of their countries, more worried about the state of their economy and the most worried about economic mobility. But southerners share with northerners their disenchantment with the results of European integration.

There is no north-south divide on coping with the crisis. As might be expected, wealthy northern countries are less supportive of financial bailouts than poorer southern nations. But there is no clear-cut division of opinion on austerity or EU oversight of national budgets. Finally, with regard to the perception of the national character of the residents of southern European countries, the British, French and Germans judge the Greeks, Italians and Spanish to be the laziest people in Europe and among the most corrupt. However, Italians and Spaniards largely share this negative image of themselves and their southern counterparts.

Widespread Dissatisfaction

In the fourth year of the global financial crisis, there is widespread public dissatisfaction in seven of the eight European nations surveyed. Just a small fraction of Europeans are happy with the direction of their nation. Only in Germany (53%) is more than half the population content with national conditions. The mood is particularly grim in Greece, where just 2% of Greeks are satisfied.

There is, however, not much change in national sentiment from last year in five countries where there is comparable data. Sentiment is roughly unchanged in Britain, Poland, Spain and France. Only in Germany have assessments improved significantly, from 43% in 2011 to 53% in 2012.

Compared with 2007, before the crisis hit, national satisfaction today is down by 41 points in Spain and nine points in the Czech Republic. At the same time, it is up 20 points in Germany (from 33% to 53%), up 15 points in Poland (from 18% to 33%) and up seven points in France (from 22% to 29%).

National dissatisfaction is a shared transatlantic phenomenon. Only 29% of Americans are satisfied with the way things are going in their country. That figure is up eight points from 2011.

Economic Gloom

National discontent is rooted in an extremely gloomy assessment of local economic conditions, especially in southern Europe. Only 2% of the Greeks and 6% of the Italians and Spanish describe the current economic situation in their countries as good. But economic perceptions are not that much better in most of northern or eastern Europe. Only 15% of the British, 16% of the Czechs, 19% of the French and 29% of the Poles say their economy is doing well.

And economic despair is profound. An overwhelming 78% of the Greeks and 72% of the Spanish think their national economic performance is “very bad,” as do 56% of Italians. And that strongly negative Italian assessment has increased 28 percentage points since the fall of 2009.

In most countries, the public’s economic assessment has declined since 2007, before the economic crisis began, although a majority of the French, Italians and Czechs have never been satisfied with their economies since Pew began surveying in 2002. In Germany and Poland, on the other hand, public economic sentiment has been on a roller coaster ride, with wide mood swings, often from one year to the next, for the last decade. At the moment, the Germans could not be more pleased about economic conditions. Nearly three-quarters (73%) say their economy is good, up 45 points from the spring of 2009.

By comparison, while less than a third (31%) of Americans say economic conditions are good, that is up 13 points from last year. That economic assessment, while anemic, is still better than that in most European countries surveyed. It is, however, far less than the half of Americans who were satisfied with the economy in 2007, before the Wall Street debacle.

Personal Finances Deteriorating

Europeans generally say that their personal economic situation is much better than their perception of their own national economic conditions. But even that more positive assessment has deteriorated sharply since 2009 in many countries. Half or more of those in five of the eight nations surveyed say their economic condition is good, including Germany (74%), France (65%) and Britain (64%). But that sentiment is down 12 percentage points in Spain, 10 points in Britain and Poland and eight points in France since 2009. Personal economic assessments are unchanged in Germany.

Like their European counterparts, Americans feel better about their own finances than about the condition of the U.S. economy, although the percentage of Americans describing their personal economic circumstances as good has slipped from 76% in 2009 to 68% today.

Europeans are less sanguine about how their current personal finances stack up against how they and their families were doing five years ago. A majority of the Greeks (81%) and the Spanish (60%) feel they are doing worse off. And a plurality of the French, Italians, British, Czechs and Poles agree. The Germans say their family finances are about the same as five years ago. Nearly four-in-ten Americans (38%) say their situation is about the same, while 34% say it is worse and 27% describe their current financial situation as better.

Blame the Banks and the Government

Europeans’ assessment of their economies’ performance varies, as does who they blame for current economic conditions. Among those who say their economy is bad, people in four countries – the Czech Republic (91%), Poland (90%), Greece (87%) and Italy (84%) – overwhelmingly say their own governments are responsible for current economic problems. In two other European nations, Spain (78%) and France (74%), people put the onus on the banks and other major financial institutions. And in two countries, opinion is more divided: Britain (69% fault the banks, 67% blame their government) and Germany (74% blame banks, 70% fault the government).

In Britain, France, Germany and Spain, people ages 18-29 are especially likely to blame their own government. In Britain, France and Spain the people most judgmental of financial institutions are those 50 years of age and older.

Public assessments of the state of the nation, the economy and who is to blame often are rooted in a person’s politics and can divide along ideological lines. In Britain, France and the Czech Republic, countries with center-right governments when the survey was taken, people on the left are more dissatisfied with national conditions and the state of the economy than those on the right. In Greece, Spain and Italy, unhappiness with the national state of affairs and the economy is so profound that it transcends political leanings.

Pessimism About the Future

Looking forward, Europeans are uniformly downbeat about the future. Only 9% of the Greeks, 13% of the Czechs and 18% of the Poles expect the economic situation to improve over the next 12 months. Economic optimism is not much more widespread in France (22%), Italy (22%), Spain (25%) or Germany (29%). An overwhelming majority (81%) of Greeks actually expect the economy to worsen, including 53% who say it will worsen a lot. A majority of the Czechs (60%) and a plurality of the Spanish (47%) and the Italians (47%) also see things going downhill. Views about the future of the economy are relatively unchanged in most of Europe since 2011. But notably they are down nine points in Germany from last year.

Current American optimism about the economy clashes sharply with European pessimism. Roughly half (52%) of all Americans see the U.S. economy getting better over the next year, up 10 percentage points from 2011.

On a more personal level, Europeans are similarly gloomy about potential economic mobility for their children. Strong majorities of the Greeks (73%), the Spanish (69%) and the Italians (62%) think it will be very difficult for a young person in their country to get a better job and to become wealthier than his or her parents. Americans generally share Europeans’ pessimism for their children, although less intensely.

Nevertheless, this pessimism should be seen in context. Compared with their parents at their same age, majorities in most European countries think that their own standard of living is better than that of the previous generation. This includes 71% of the Spanish, 70% of the Germans and even 57% of the Greeks. Among the countries surveyed, only the French (48%) are not sure they live better than their parents. Six-in-ten Americans say they are better off than their elders, a total roughly comparable to the European median (59%).

Shared Economic Troubles

Troubled about their economies and their economic future, Europeans fret in overwhelming numbers about the three horsemen of economic anxiety: unemployment, debt, and inflation, as well as the power of the banks, but not trade unions.

Overall, Europeans are most worried that the lack of jobs poses a major threat to their national economic well-being, with concern the highest in Spain (97%), Greece (97%) and Italy (95%). Only in Germany does apprehension over the size of the national debt (77%) trump the fear of joblessness (70%). Debt is generally the second most troubling economic issue. In most countries, women are especially worried about public indebtedness.

Inflation fears outstrip debt worries in Italy and run neck and neck in Poland. In Germany, the Czech Republic, and France, the less educated are generally more concerned about rising prices than the more educated. Despite their national trauma with hyperinflation in the 1920s, Germans (56%) are less likely than the other Europeans surveyed to worry about rising prices.

The Greeks, with the worst performing economy in Europe, are overwhelmingly worried about all these threats to their well-being.

Americans share these European concerns. And they agree that a lack of jobs is a greater threat than public debt or inflation. But Americans are less likely to be worried about each of these issues than are the Europeans. Roughly seven-in-ten Americans (71%) fret about the size of the national debt. The percentage of Europeans who share this concern is even higher. Nearly two-thirds of Americans (64%) fear inflation; again, the concern in all but two of the European countries surveyed is higher. But unease about the national debt is far more likely to be a partisan issue in the United States than it is in Europe. Europeans, whatever their political leanings, tend to see indebtedness the same way. The left-right divide in concern is five percentage points in Germany, four in France, and three in Britain. It is 20 points in the United States, with only 59% of liberals ranking debt as a major threat to the economy compared with 79% of conservatives.

Structural Threats to Economic Well-Being

Among institutional and structural threats to national economic well-being, Europeans are more than three times as likely to worry about the power of banks and financial institutions as they are to be concerned about the power of trade unions. The Greeks (88%) are the most concerned about the power of the banks, as well as the influence of labor unions (40%). Notably, Americans are generally less likely than Europeans to think financial institutions imperil national economic well-being. Twice as many people in the United States are concerned about the influence of the banks as fret about the power of unions.

At a time of economic turmoil and anxiety throughout Europe, northern Europeans are less likely to acknowledge their economic interconnectedness than are southern and eastern Europeans. Majorities in France (60%), Germany (57%) and Britain (55%) say what happens in other European Union countries does not affect their own personal well-being. Half or more in Greece (82%), the Czech Republic (60%), Poland (55%), Italy (51%) and Spain (50%) think their personal fortunes are inextricably linked to developments elsewhere.

But, when asked about specific external economic threats, majorities in northern and eastern Europe think the economic woes of countries like Greece and Italy pose a major risk to the economic fortunes of their countries. This concern is especially strong in Germany (71%). And conservatives in France are more likely than those on the left to harbor such qualms.

Meanwhile, Greeks overwhelmingly believe the power of Germany and other EU nations seriously endangers their economic welfare – 83% say this is a major threat. Less than half, however, in Spain (47%), the Czech Republic (46%), Poland (40%) and Italy (39%) hold this view.

Fears of European economic turmoil have yet to cross the Atlantic. Only 41% of Americans think the economic problems in Europe pose a major threat to the U.S. economy.

Free Market Support Failing

One casualty of the euro crisis has been support for capitalism in Europe, especially in some countries most adversely impacted by the economic downturn. Around half the population in Spain (52%) and Greece (50%) do not believe that people are better off in a free market economy. And since 2007, before the global financial downturn, support for the free market system has fallen by 23 points in Italy, 20 points in Spain and nine points in the Czech Republic. But belief in capitalism has also fallen 15 points in Poland over that time period, when the Polish economy was doing relatively well.

Majorities in Germany (69%), Britain (61%) and France (58%) still believe that most people are better off in a free market economy, even though some people are rich and some are poor. Europeans with a college education are generally favorable toward capitalism. Men are generally more supportive than women. In Britain, France, the Czech Republic and Greece, those on the political right have a more positive view of free markets than do those on the left.

Divisions Over Austerity

Debate over cuts in government spending have been the focal point of European politics in recent months. European citizens are divided on the efficacy of austerity. Among the nations surveyed, a median of 37% say cuts have not gone far enough, 37% say they have gone too far and 25% say they have been about right.

Roughly half in Poland (52%) and France (46%) say their country’s efforts to reduce government spending have not cut deep enough. A plurality in Spain (43%) and the Czech Republic (45%) say belt-tightening has been excessive. And Italians are divided on their government’s efforts.

These findings reflect conditions on the ground in each of these nations. In France, nominal government expenditures have increased throughout the crisis, so there have been no cutbacks in public spending. The plurality of the left in France that thinks austerity has gone too far may reflect anxiety about anticipated cuts and could help explain their support for the new French president, Francois Hollande, who has promised some increases in spending. In Spain, concern that austerity has gone too far tracks with the fact that government expenditures have gone down both in real terms and as a per cent of GDP every year since 2009.

The view that spending cuts have gone too far is especially common on the left in the Czech Republic, Britain, Spain and France – all nations ruled by center-right governments at the time of the survey. But there is no real ideological divide on budget cutting in Italy, Germany and Poland.

Public support for further austerity is questionable, however. Majorities in five of the seven countries surveyed say efforts to reduce government spending are about right or have gone too far. This includes strong majorities in Spain (73%) and Britain (71%) and a lesser majority in Italy (57%).

Mixed Views on Bailouts

Assistance to EU countries that have major financial problems has been a key element of Europe’s response to the euro crisis. Bailouts have been provided to Greece, Ireland and Portugal. But such aid is not popular in countries that have been donors.

A strong majority of the British (62%) are against EU assistance to troubled member countries. A majority of the French (56%) also oppose it, while the Germans are divided (48% oppose, 49% support). A majority or plurality of the left in all three northern countries support such assistance. But only a minority of the right and the center back aid.

Public attitudes toward bailouts are in flux. Opinion has flip flopped in France. In 2010, 53% supported assisting others in distress. In 2012 a majority (56%) oppose such aid.

Over the same time period, German support for such assistance actually rose from 42% in 2010 to 49% today. This may reflect the fact that Germans are feeling much better about their own economy. And those who feel good about the German economy are much more likely to be willing to provide financial assistance to other European Union countries in distress than are Germans who think their economy is doing poorly.

As might be expected, people in southern European countries that are recipients or potential beneficiaries of aid – Greece (91%), Spain (90%), and Italy (79%) – overwhelmingly favor other European Union governments providing financial assistance to EU member countries that experience major financial problems.

It is notable, however, that eastern Europeans, who are currently not considered candidates for bailouts – Poland (63%) and the Czech Republic (55%) – also back such aid. These nations were the beneficiaries of considerable assistance when they first joined the EU.

Concern Over Loss of National Budgetary Sovereignty

Clear majorities in four of the eight EU nations surveyed oppose giving the European Union more authority over the national budgets of member countries. Such budgetary deferral to Brussels is a key element in the European Union Treaty on Stability, Coordination and Governance in the Economic and Monetary Union – known as the Fiscal Pact – that comes into force January 1, 2013. Opposition to the loss of sovereignty over the domestic budget is found in Germany (56%) and Spain (54%) and is overwhelming in Britain (75%) and the Czech Republic (73%), where the governments have refused to sign the Fiscal Pact. (Their participation is not needed for the treaty to come into force.) Opinions are roughly divided in France (51% oppose, 49% favor) and Italy (40% oppose, 45% favor).

There is no clear-cut, European-wide ideological split over budgetary sovereignty. It is the right in Britain (81%) who most strongly oppose EU oversight of the national budget. But it is the left who oppose such supervision in Spain.

An overwhelming majority of Brazilians gives the government good ratings for the way it is handling the economy, and many expect economic conditions to improve over the next year. Yet, a large percentage of those who say the country’s current economic situation is bad blames the government primarily; many also say Brazilians themselves are responsible for the country’s economic troubles.

Mixed Views of National Conditions

When asked whether they are satisfied or dissatisfied with the way things are going in their country, Brazilians are nearly evenly split: 50% offer a positive assessment and 49% offer a negative view of their country’s direction.  Still, the only nation surveyed where views of national conditions are more positive than in Brazil is China, where 87% are satisfied with the way things are going in their country.

Brazilian men are considerably more likely than women in that country to say they are satisfied with the way things are going; 56% of men offer a positive assessment of national conditions, compared with 43% of women.

Satisfaction with national conditions is also more widespread among the less educated.  Nearly six-in-ten (58%) of those with no more than a primary education are happy with the way things are going in the country.  In contrast, 45% of those with at least some secondary education and 49% of those with some college or more offer positive assessments of national conditions.

Respondents in rural areas are much happier with the state of the nation than are those in urban areas.  A majority (62%) in rural parts of the country say they are satisfied with the way things are going, while 36% say they are dissatisfied.  Those in urban areas are nearly evenly split; 48% are satisfied and 50% are dissatisfied with national conditions.

Regionally, those in the Northeast are especially inclined to express satisfaction with the way things are going in Brazil; about six-in-ten (61%) say they are happy with national conditions while 36% say they are not.  Views are more mixed in the other regions of the country.  For example, 45% in the Southeast say they are satisfied with the way things are going in their country, while 53% say they are dissatisfied.

National Economy Gets Good Ratings

Of the 22 publics surveyed, Brazilians offer the second-most positive evaluations of economic conditions in their country.  A solid majority (62%) describes the current economic situation in Brazil as very or somewhat good, while just 36% say the economy is bad.  China, where 91% rate their country’s economy as good, is the only country where views are more positive than those of Brazilians.  Majorities in 17 of the 22 nations surveyed say their countries’ economies are in bad shape.

Men and those with at least some college education give Brazil’s economy particularly high marks.  While nearly seven-in-ten (69%) men say economic conditions are good, a narrower majority of women (56%) share this view.  Among respondents who have attended college, 70% give the economy a positive rating, compared with 62% of those with some secondary education and 59% of those with a primary education or less.

Ratings of economic conditions do not vary significantly across income or age groups.² Respondents in all regions also offer similar evaluations of Brazil’s economy, as do those in urban and rural areas.

Government’s Handling of the Economy

Of those who think the economy is in bad shape, an overwhelming majority (80%) blames the government for their country’s economic problems. More than half (55%) say Brazilians themselves are among the top culprits, while 26% blame banks and other financial institutions for Brazil’s economic troubles.  Few name the U.S. (5%) or the European Union (2%).

Still, a solid majority of Brazilians (76%) give their government a good rating for its handling of the economy; just 23% say the government is doing a bad job.  This view is prevalent across demographic groups and regions.

Even among those who say the economy is in bad shape, more give the government a good rating (51%) for its handling of the economy than give it a bad rating (46%).  And those who blame the government for the country’s economic troubles are divided – 49% say the government is doing a good job on the economy and 50% say it is doing a bad job.

Most Say Economy Will Improve

Brazilians are optimistic about their short-term economic future.  Three-quarters say they expect their country’s economic situation to improve over the next year.  Just 4% say the economy will worsen, while 17% expect it to remain the same.

Among those who rate the current economic situation positively, 80% expect it to be even better in the next year, while 16% expect it to remain the same; just 2% say things will get worse.  Optimism is less widespread among those who say the economy is currently in bad shape; still, 68% in that group expect economic conditions to improve in the next year, while 21% say things will remain the same and 9% think the economy will worsen.

Views of Trade and Globalization

An overwhelming majority of Brazilians (87%) say that growing trade and business ties between Brazil and other countries is a good thing. This view is widespread across demographic groups and regions, but those with some college education and the more affluent, as well as those in urban areas, are somewhat more likely than the less educated, those with lower incomes, and those in rural parts of the country to say growing trade is good for Brazil.

Brazilians also support the free market approach.  Three-quarters agree that most people are better off in a market economy, even though some are rich and some are poor; 21% disagree with this view.  By comparison, fewer than half in the other two Latin American countries surveyed endorse free markets; 44% in Mexico and 40% in Argentina agree that most people are better off in a market economy.

Drugs, Crime Top Concerns

More than eight-in-ten Brazilians say illegal drugs (85%) and crime (83%) are very big problems in their country.  Large percentages also see corrupt politicians (79%) and social inequality (66%) as very big problems, while somewhat narrower majorities express similar concern about pollution (62%), the spread of HIV/AIDS and other infectious diseases (58%) and economic issues (53%). Relatively few (27%) say access to drinking water is a major problem in Brazil.

For the most part, views of national problems vary little, if at all, across demographic groups.  However, those in rural areas are often more likely than those in urban areas to characterize Brazil’s challenges as major.  For example, 75% of respondents in rural parts of the country describe the spread of infectious diseases as a very big problem, compared with 56% of those in urban areas.  And while about three-quarters (74%) in rural areas say pollution is a major problem, 60% in urban areas share this opinion.

Blacks are more likely than whites and those who are of mixed race to see social inequality as a major challenge.  Nearly eight-in-ten (77%) blacks describe social inequality as a very big problem in Brazil; 68% of those of mixed race and 63% of whites do so.  Brazilians across income and educational groups offer similar views about the extent to which social inequality is a problem in their country.

Fear of Crime

More than half of Brazilians (55%) say there are areas within a kilometer of their home where they would be afraid to walk alone at night; 45% say they feel safe walking alone in their neighborhood. Women, those over 50 and those who live in urban areas are especially likely to feel unsafe.

About two-thirds (66%) of women say there are areas near their homes where they would be afraid to walk alone at night, compared with 43% of men who say that is the case.

Among those 50 and older, 65% say there are areas within a kilometer of their homes where they would be afraid to walk alone at night. By contrast, half of those ages 30 to 49 and about the same share of those younger than 30 (52%) feel unsafe in their neighborhoods.

And while solid majorities of urban and rural dwellers describe crime as a very big problem in Brazil (83% and 87%, respectively), those who live in urban areas are more likely to feel personally unsafe.  More than half (56%) of respondents who live in urban areas say there are parts of their neighborhood where they would be afraid to walk alone at night; 44% of those in rural areas say that is the case.

National Discontent Widespread

People around the world are largely dissatisfied with the way things are going in their country. But this bleak mood showed some signs of easing over the last year, with levels of dissatisfaction decreasing in ten countries, staying about the same in eight and increasing in only three.

In 19 of 22 countries surveyed majorities are unhappy with their nation’s direction. At least three-quarters of Lebanese (86%), Pakistanis (84%), Kenyans (82%), Mexicans (79%), Japanese (76%) and Spanish (76%) are discontented. Roughly six-in-ten Americans also are dissatisfied.

As might be expected, some of this discontent tracks national economic fortunes. Spanish dissatisfaction has risen 31 percentage points since spring 2007, before the economic crisis hit. Additionally, there has been a 22-point rise in unhappiness in Jordan and an 18-point increase in Egypt over that period. In that three-year time frame, Spain’s growth turned sharply negative and the Egyptian and Jordanian economies slowed dramatically. Similarly, strong majorities of the Japanese have been unhappy with their nation’s direction throughout the decade as their economy has struggled.

But dissatisfaction may reflect other concerns. For example, in France dissatisfaction is somewhat lower now than before the recession, even though the economy is underperforming.

Only the Chinese are clearly satisfied with the way things are going in their country; 87% express a positive opinion. Chinese contentment is unchanged from last year, but satisfaction has improved dramatically – 39 percentage points – since the first Pew Global Attitudes survey in 2002.

Economy Recovers But Not Enough

Economists report that the world is recovering from the worst downturn since the Great Depression. But strong majorities in most nations still give their country’s current economic situation a thumbs down.

In most nations, the portion of the public that thinks their economy is doing well is only a fraction of what it was before the recession hit. In 2007, in the United States, 50% of the public thought the economy was doing well. In 2010, only 24% thinks so. Similarly, in France (13%) and Japan (12%), the portion of the public saying their economy is good is less than half the number who felt that way just three years ago.

And almost everywhere people remain fairly glum about economic conditions. Only about one-in-eight people in France, Spain, Japan and Lebanon believe economic conditions are good. And about one-in-five British, Egyptians, Pakistanis and South Koreans concur.

Nevertheless, in nearly half the countries surveyed people gave higher marks to their national economy in 2010 than in 2009.  And the number of people saying their economy was good grew sharply in some countries, by 24 percentage points in Poland and Kenya and 16 points in Germany. Only in four nations did the assessment of the national economy go down, most notably in India, by 16 points.

The Chinese are the most positive about their domestic economic situation, by far; about nine-in-ten Chinese say times are good. By comparison, in Brazil, where ratings of the national economy are the second-highest, 62% offer this positive assessment.

Unconvinced About the Future

Despite some improvement in their assessment of their current economic situation, publics remain unconvinced about the next 12 months. In most parts of the world, there has been almost no uptick in economic optimism in the last year. The exceptions are Kenya, where confidence is up 31 percentage points, Poland, where it is up 15 points, and Nigeria, where it is up 12 points.

The most hopeful about economic conditions improving over the next year are Chinese, Nigerians and Brazilians, at least three-quarters of whom are upbeat. And one-in-three Brazilians and Nigerians think their economy will improve a lot.

Pluralities in Britain, Germany and Spain also think economic conditions will get better. France is the lone exception among Western Europeans, where a plurality of the population actually expects the economy to worsen. This general European optimism is particularly notable because the survey was conducted in the last two weeks in April as the high profile public debate over the implications of the Greek economic crisis was building.

Yet, worldwide, majorities or pluralities in only 11 of 22 nations expect conditions to improve in the short run. The least optimistic are the Japanese and the Pakistanis; half of Pakistanis actually think their economy will worsen in the next 12 months. Pessimism is particularly pronounced in the Middle East as well, where about half of Lebanese, 38% of Egyptians and 35% of Jordanians foresee a bleak economic future.

Blame and Responsibility

Most people blame their own government for their current economic problems, although the Europeans are most critical of the financial sector. Despite reason to believe that the recent economic crisis emanated from the United States, people in many parts of the world are more likely to hold themselves responsible than they are to point the finger at Uncle Sam.

In most of the countries surveyed in Asia, Africa and Latin America overwhelming majorities of those who think their economy is bad say their government is responsible. About nine-in-ten Indonesians, Kenyans, Nigerians, South Koreans, Pakistanis, Mexicans and Lebanese name the government as the principal or secondary culprit for their recent economic misfortunes.

In contrast, Europeans strongly blame banks and other financial institutions for their troubles, with Germans and British the most likely to blame those institutions.

In the wake of the financial crisis that triggered the global recession, relatively few in most of these countries blame the U.S. for the downturn. People in Brazil, Indonesia, Japan, Lebanon and Nigeria, among others, are more likely to say the responsibility for their current economic problems lies with themselves and their fellow countrymen rather than with the United States.

Governments’ Poor Job

Whoever is accountable, half or more of the population in 16 of 22 countries surveyed thinks their government is doing a poor job dealing with the economy. This includes more than two-thirds of the people in Japan (84%), Korea (72%), Egypt (72%), Lebanon (71%), Spain (69%) and Argentina (68%). But only half of Americans (50%) express such dissatisfaction. And Americans are more likely to say their government is doing a good job than people in 14 of the 21 other nations polled.

Satisfaction with government’s management of the economy tracks a positive assessment of the current economy and high hopes for the future. The Chinese, Brazilians and Indians are all among the most upbeat about economic conditions, the most optimistic about the next 12 months and most likely to praise their public officials’ handling of the economy.

People in most major advanced economies would like their governments to do more, at least when it comes to regulating the financial sector. This is particularly the case in Western Europe, where overwhelming majorities – 91% in Germany, 85% in Britain, 78% in France and 72% in Spain – think it would be a good idea for the government to more strictly regulate the way large financial companies, such as banks, do business. A smaller portion of Americans (62%) agree. However, the Asians surveyed are not so sure more regulation is in order. Barely half of South Koreans (52%) and only a third of Japanese (34%) think tighter strictures are a good idea.

A Europe Divided

The economic crisis has affected attitudes in Europe, where Europeans are of two minds: They are supportive of the main institutions of a united Europe and skeptical about European economic integration.

European attitudes toward the EU remain largely positive. Strong majorities of Poles (81%), Spanish (77%), French (64%) and Germans (62%) and a plurality of the British (49%) see the EU in a favorable light, sentiment that is largely unchanged from 2009. And overall approval is stable even in France, where a quarter of the public thinks the European Union is the principal or secondary cause of France’s current economic problems.

And the financial market turbulence recently afflicting the euro has not undermined public support for the single European currency. Only about a third of French (34%), Germans (32%) and Spanish (30%) would like to return to their original national currencies.

But Europeans disagree over providing financial assistance to other EU members that face major financial problems (interviews were conducted prior to the May 9 EU decision to provide financial assistance to Greece). The British (61%) and Germans (56%) oppose such aid, while the French (53%) support it. As might be expected, those who view the EU favorably in all three nations overwhelmingly back assistance.

The bailout is clearly a partisan issue in Britain, less so in Germany and not nearly as politically divisive in France. A majority of British who identify themselves as on the left of the political spectrum support providing financial assistance to fellow EU countries in distress. Only a third of British conservatives agree. And in both Britain and Germany, it is the lukewarm backing for aid by moderates that undermines overall public support for such action.

However, with respect to Greece, the initial recipient of aid from other European Union governments, only in Germany is anti-bailout sentiment accompanied by a preponderance of negative views of that debt-strapped nation. A majority of Germans (52%) have an unfavorable view of Greece, while majorities of French (65%) and British (60%) and half the Spanish (50%) still hold favorable views.

More broadly, despite generally positive support for the European Union, nearly two-thirds of the French (63%) and more than half the British (57%) think their economy has been weakened by European integration. Germans are evenly divided on the issue. A bare majority of Spanish say their economy has been strengthened. Only the Poles (68%) credit a united Europe with strengthening their economy.

Moreover, negative views about economic integration have grown over the years in Western Europe, by 23 percentage points in Spain, 19 points in France and 19 points in Britain since 1991. And, especially in Britain, sentiment on this issue divides along ideological lines. A slim majority (52%) of people on the left of the British political spectrum think European economic integration has strengthened their country, while only 28% of centrists and 33% of those on the right agree.

Markets and Globalization

Contrary to widespread fears that the global recession would undermine public support for free markets and globalization, backing remains strong. Majorities in 19 of the 22 nations surveyed think people are better off in a free market economy, even though some people are rich and some people are poor. The strongest support is in China (84%) and Nigeria (82%), where eight-in-ten people back capitalism. Only in Japan (55%) does a majority disagree that most people are better off in free markets. Overall, support for a market-based economy is up in nine nations and down in seven, with the largest improvement in Nigeria (16 percentage points) and the greatest erosion of support in Kenya (12 points).

Overwhelming majorities in most countries say growing world trade is good for their country. The weakest such backing is in Egypt and the U.S., where only about two-thirds of the public favors economic globalization. But support for trade among Americans of all political persuasions has increased since 2008. And, contrary to the widely held view that Republicans are free traders and Democrats are protectionists, 75% of self-identified Democrats say trade is good for the U.S., up four percentage points from 2009, compared with only 61% of Republicans and 63% of independents, whose support remained unchanged.

With trade held in a favorable light by a large portion of the global public, the intensity of such feelings may be a better indicator of sentiment. More than six-in-ten Pakistanis (63%), half of Turks and almost as many Indians (47%), Kenyans (46%) and Lebanese (46%) say trade is very good for their country. But Americans (17%) and Japanese (16%) are far less passionate.

In one sign of the adverse impact of the global recession on China’s exports and thus on people’s jobs, only one-in-five Chinese now think trade is very good for China, down from 38% in 2007, before the downturn in world trade.

Which Is the Leading Economic Power?

In the global marketplace, majorities or pluralities in 14 of 22 nations think the U.S. is the world’s leading economic power. This view is especially common among South Koreans (77%), Turks (69%), Kenyans (61%), and Indians (60%). The U.S. is named least often as the world’s leading economic power in Germany (18%). The greatest falloff over the last year has been in Jordan, where the percentage naming the U.S. declined from 49% to 30%, and in Japan where it dropped from 58% to 40%.

China is clearly on the rise. Majorities or pluralities in eight nations say China is the economic leader. In 2009, people in only two countries saw China in that role. Today, roughly half of Germans (51%), Jordanians (50%), Japanese (50%) and French (47%) and 44% of the British assign the top spot to China. Even in the U.S., about equal proportions of the public accord economic superpower status to America (38%) and China (41%).

Since 2009, in 13 of the 21 countries for which trends are available, the portion of the public that views China as the world’s leading economic power has grown, including increases of 29 percentage points in Japan, 23 points in Germany and 21 points in Jordan. China scored significant gains in all the nations surveyed in the European Union and in the Middle East, the two regions where people are most likely to accord China the leading economic role.

But opinions in Asia vary. The perception that China’s is the world’s economic leader is highest in Japan (50%). However, only one-in-ten Indians (11%), one-in-seven South Koreans (15%) and one-in-five Pakistanis (21%) and Indonesians (20%) agree that China is the world’s leading economic power. The Chinese themselves are actually slightly less likely to place their country in the top position today (36%) than they were a year ago (41%).

The European Union is almost nowhere seen as an equal to the U.S. or China, with perceptions of the EU’s leading role mostly in single digits. The lone exception is in India, which has an equally low regard for both China and the EU. In both the U.S. and China, only 6% see the EU as the global economic leader. European publics’ faith in the EU as an economic superpower has also been undermined. The portion of the German public that sees the Brussels-based institution as the world’s top economic power has dropped from 36% to 19% in just the last year.