Alarming EU Outlook: One Third Of Europeans Brace For Declining Living Standards

A recent Eurobarometer poll reveals a growing concern among Europeans regarding their financial future and standard of living. Almost one-third of citizens, specifically 29 percent, anticipate a decline in their personal standard of living over the next five years, while a smaller portion, 18 percent, expects an improvement. This widespread economic anxiety is not uniformly distributed across all age groups, with older generations exhibiting higher levels of pessimism; 34 percent of those aged 55 and over foresee a worsening situation, compared to only 17 percent of younger respondents.

Geographical variations in these expectations are also significant. Western European member states tend to report a higher percentage of negative outlooks, with France leading the bloc where a substantial 44 percent of respondents expect their standard of living to deteriorate. Portugal, Germany, and Austria show similar levels of concern. In contrast, Nordic countries and those in Central and Eastern Europe display more optimistic perspectives. Poland records a mere 9 percent anticipating a decline, and Hungary stands out with the lowest level of economic pessimism in the entire EU, at just 8 percent.

A European Parliament official suggests that this pessimistic economic view in some countries might be linked to a negative perception of the European Union. While the EU's overall image remains positive among 50 percent of citizens and negative for 17 percent, this gap narrows in nations such as France, Austria, Greece, and Czechia. Furthermore, French and Austrian citizens are among the most skeptical about the benefits of their countries' EU membership, with only 62 percent in both countries believing the overall balance has been positive—the lowest levels in Europe apart from Bulgaria at 57 percent. The official noted that economic uncertainty and rising prices could influence how the EU is perceived, potentially contributing to the rise of eurosceptic parties.

The prevailing negative outlook is deeply intertwined with increasing worries about "inflation, rising prices and the cost of living," which citizens identify as their paramount concern for the European Parliament to address. This issue is the main concern for 47 percent of EU citizens, marking a 6 percent increase from the previous survey where it already held the top spot. Following this, "economy and job creation" and "EU defence security" are ranked as other significant concerns. Additionally, the survey highlights that almost one-third of respondents, 27 percent, believe their quality of life has deteriorated over the past 12 months, compared to 11 percent who saw an improvement and 62 percent who reported no change.