Just 1% think Government acted correctly in crisis

JUST one in every 100 people in Ireland believe the Government has taken effective action to tackle the economic crisis while the EU and the IMF, despite insisting on tough austerity measures, are more trusted.

The EU survey, carried out in November when negotiations were under way on an EU/IMF loan for the country, showed the Irish — not surprisingly — were the most pessimistic in the union.

The majority believed that the worst was far from over and that the results of the economic collapse, such as unemployment, would get worse before it would get better.

Asked who they believed had acted effectively to tackle the crisis, the EU was rated first, followed by the IMF. Both gained in credibility while the US, the G20 and the Government lost out.

Not everyone agreed with the Irish assessment, however, and seven countries favoured the IMF as the most suitable body to tackle the crisis. They were the Finns, Danes, Swedes, French, Germans, Spanish and British.

A majority of Irish were positive about the EU’s role to date in the crisis, while the other country that had to seek a bailout, Greece, were the least positive, describing the union’s actions as being “ineffective”.

More than 80% of Irish questioned in the pan-EU survey — a much higher percentage than the EU average — wanted major controls and taxes imposed on the financial institutions including banks.

More than 90% wanted a tax on bank profits, and almost as many favoured regulating wages, including bonuses of those working in the financial sector.

They favoured the EU closely supervising how taxpayers money is used to rescue the banks, while 90% say they want tougher rules on tax avoidance and tax havens.

Commissioner Viviane Reding, commenting on the survey, said: “It’s very encouraging that European citizens clearly see stronger action from the EU as contributing to a return to strong economic growth and higher employment.”