Chart Check (“Just How Anti-Euro Are You?”)

You’d be forgiven for thinking that the EU and the EMU are quickly becoming institutional structures that a large percentage of the European electorate would be fine with relegating to the dustbin of history.

Indeed, between the Greek “experience” (so to speak), the Brexit vote (despite the fact that a simple Google Trends analysis suggests quite a few Brits had no idea what they were voting to “exit”), support for Geert Wilders in the Netherlands, Frauke Petry’s rise in Germany and, poignantly, Marine Le Pen’s bid for the French presidency, it would seem that we may be on the verge of a veritable “tipping point” for Western democracy and for the single currency.

Of course appearances can be deceiving, and as Morgan Stanley notes, when it comes to the euro, the idea of leaving the currency bloc is not something most Europeans actually support. 

Via Morgan Stanley

We think that the majority of the French people is pro-Europe and pro-euro. Experience has taught us to take any poll, survey of voter intentions,etc. with a pinch of salt, but we believe there’s sufficient evidence, in this case, to conclude that this is more or less accurate. The European Commission regularly collects opinions on a variety of topics related to the EU and the euro. One of these questions asks whether people are in favour of or against the single currency. In France, more than two-thirds are in favour,and ‘only’a little more than one-quarter are against. Views seem to be quite entrenched, in the sense that the share of undecided, typically a potential swing factor, is basically minimal.