One in 4 Europeans has a financial situation “threatened”! An opinion poll shows shocking results and predicts “the worst in the future”
A survey of six European countries painted a worrying picture of the economic situation of citizens on the European continent, with one in four Europeans describing their financial situation as "threatened", and more than half of them believing that their situation will become so in the coming months, according to the British newspaper, The Guardian. .
The newspaper explained in a report published on Monday, November 7, 2022, that at a time when the cost of living crisis, caused by high energy prices, rampant inflation and the Russian war on Ukraine, was intensifying, the poll commissioned by the French NGO to fight poverty, Secours Populaire, described European continent as "a continent on the edge of the abyss".
Declining purchasing power in Europe
In the survey carried out by Ipsos, more than 6,000 people in France, Germany, Greece, Italy, Poland and the United Kingdom (54%), said their purchasing power had decreased over the past three years, mostly due to the rising cost of food, fuel, heating and rental bills.
Greece was the country hardest hit, with 68% of survey respondents saying their purchasing power had decreased “a lot” or “somewhat” since 2019, followed by France at 63%, Italy 57%, Germany 54%, and 48 % in Britain and 38% in Poland.
About 80% of respondents said they had already had to make major compromises, such as reducing travel (62%), heating (47%), borrowing from friends or family (42%), finding a second job (40%) and forgoing a meal ( 29%).
In the six countries of the European continent, 64% said they are now “a lot” or “sometimes” unable to decide what to stop next, because they have already stopped what they can, and 28% said their salaries are only enough for them for the middle of the month, and 27% said They often or sometimes fear losing their home.
On average, about 27% of respondents in the six countries said their financial and financial situation was “threatened”, meaning that “one unexpected spending can change everything”, while 55% said they were cautious in their spending.
The future will be "worse"
But the future looked even worse for many on the European continent. The majority of Europeans (55%) said they feel that their financial situation will become seriously or moderately threatened in the coming months, and one in five (17%) estimates this possibility as very high.
Italians and Greeks were the most concerned, at 70% and 68% respectively, very or somewhat concerned. About 47% of respondents in Britain said they feel that their risk of becoming financially threatening is high, and the proportion reached 42% in France.
While the survey showed that parents in particular feel this pressure more than others. The vast majority (72%) in the six countries said they cut back on their leisure activities (76%), hair and beauty treatments (72%), and their clothing budget (72%), in order to maintain their children's standard of living.
Almost half (48%) of parents in the six European countries said they cut back on their portion of food to feed their children, while 66% said they were forced to cut back on their children's activities, such as picnics and holidays.
On average, 49% of parents said they were worried that they would be unable to meet their children's needs in the future, while 33% said they were unable to diversify their children's diet as they would like.
The study showed striking differences between countries in terms of which groups are most at risk of falling into poverty: pensioners in Germany (61%), young people in Italy (57%), and single-parent families in the UK (55%).