Europeans suffering economic 'feel-bad factor'

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BRUSSELS, June 25 (AFP): Europeans are increasingly worried by rising inflation and the risk of an economic crisis, with expectations over national economies and employment at record lows, an official poll showed yesterday.

The gloomy outlook was contained in the European Commission's Eurobarometer poll which, after questioning 30,000 people throughout the EU, highlighted a "dramatic worsening in short-term expectations."

Thirty-nine per cent of those questioned thought the employment situation in their country would worsen over the next year, as opposed to just 21 per cent who felt it would improve.

On the economy, the figures were even worse with 46 per cent expecting it to deteriorate and just 16 per cent anticipating an improvement.

These were "record low expectations" on both national economies and the employment situation, the report said.

Whereas a year ago there was talk of an economic feel-good factor, "now we can refer to an economic 'feel-bad factor' amid soaring oil and food prices, it added.

Commission vice-president Margot Wallstrom said the results "reflect the current economic difficulties and show the need for the EU to continue with its policy agenda aimed at improving the quality of people's daily lives. Nonetheless, I am reassured that the level of trust in the EU remains high."