- Associated Press - Tuesday, May 29, 2012

LONDON (AP) — The debt crisis that has ravaged Europe for the best part of three years has exposed a dislike of the single currency but little desire to abandon it, a wide-ranging survey of public opinion found Tuesday.

Pew Research Center’s survey across eight European Union countries, including five members of the 17-country eurozone, indicated that the region’s financial problems have triggered full-blown fears about the future of Europe as a political project.

“This crisis of confidence is evident in the economy, in the future, in the benefits of European economic integration, in EU membership, in the euro and in the free market system,” Pew said in a statement accompanying its survey.

Despite those concerns, Pew found there was no desire for those countries that use the euro to return to their former currencies, such as the French franc or the Spanish peseta. The euro launched in 1999 and is now used by 17 countries.

In Greece, the epicenter of the debt crisis, 71 percent of those polled want to keep the euro, comparked with 23 percent that want to return to the drachma. More people in Greece, which is now in its fifth year of a savage recession, think the euro has been good for them rather than bad — 46 percent of those surveyed compared to 26 percent who thought it was a bad thing.

These findings may be crucial as Greece heads to the polls on June 17 in a general election many see as a referendum on the country’s euro membership.

Varvara Konstantopoulou, a 65-year-old pensioner in Athens, summed up the dilemma that is at the heart of a country that is trapped between indefinite austerity and a catastrophic currency exit.

“I don’t think the euro helped us. When we joined, everything became more expensive,” she said, “but we are trapped now. If we leave the euro, our money will not be worth anything. It’s worse for people on a fixed income.”

Her 45-year-old unemployed daughter, Alexia, agreed with her mother that Greece was not ready for the euro when it joined in 2001. However, she thinks the euro will survive but that in the future countries should get a grip on their public finances so there’s no repeat of the current crisis.

“Otherwise, they will end up like us,” she said. “Every country should sort out its own problems, but they have to help us to keep things going smoothly (for the euro).”

Recent opinion polls in Greece have suggested there’s a movement towards political parties, notably the conservative New Democracy, that are willing to meet the commitments the country already has made in return for its bailout lifeline.

Though Pew found little appetite for abandoning the euro, the survey revealed a prevailing skepticism over Europe’s single currency.

More people in France, Italy and Spain think the euro has been more damaging than beneficial. In Italy, which has the second-highest debt burden in the eurozone after Greece, 44 percent of those people surveyed said the euro has been a bad thing, as opposed to 30 percent who think it has done good. Italy is also home to the biggest anti-euro constituency, with 40 percent of those polled wanting to return to the lira compared with 52 percent backing the euro.

Among the five euro countries surveyed, there wasn’t one where a majority — over 50 percent — of those polled thought the currency has been beneficial.

In Germany, Europe’s biggest economy, more people thought it was beneficial than damaging.

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