Europeans began to massively complain about the “shaky” financial situation

Europe, previously prosperous, is sinking deeper and deeper into the quagmire of the crisis of the cost of living. One in four Europeans say their finances are “shaky,” new polls show.

A study by an anti-poverty NGO shows that more than half of Europeans feel financial risk, and 80% are already having to make difficult spending choices.

According to the survey, one in four Europeans describe their financial situation as “shaky”, more than half see a serious risk that it will become so in the coming months, and 80% are already forced to make tough decisions about their spending.

As a cost-of-living crisis driven by high energy prices, runaway inflation and the conflict in Ukraine tightens its grip, a six-country study by French anti-poverty NGO Secours Populaire paints a disturbing picture of a continent “on the brink of poverty.” “.

More than half (54%) of more than 6,000 people in France, Germany, Greece, Italy, Poland and the UK told pollster Ipsos that their purchasing power has fallen over the past three years – largely due to higher food prices. fuel, heating and rent bills.

Greece has been hit the hardest, with 68% of respondents saying their purchasing power has fallen “a lot” or “somewhat” since 2019, followed by 63% in France, 57% in Italy, 54% in Germany, 48% in the UK and 38% in Poland.

About 80% of respondents said they have already had to make significant compromises, including cutting back on travel (62%) or heating (47%), borrowing money from friends or family (42%), looking for a second job (40% ). and skip meals (29%).

Across six European countries, 64% of respondents said they now “often” or “sometimes” can’t decide what spending to cut next, as they have already cut everything they could, 28% of Europeans said that by the middle of the month they of them, the limit of financial possibilities is exceeded, and 27% often or sometimes experience the fear of being left homeless.

On average, about 27% of respondents in the six countries described their financial and material situation as “shaky”, which is defined by the formula “one unexpected expense that can change everything”, and 55% said they should be careful in their spending.

For many, however, the future looks even worse: a majority of Europeans (55%) said they feel a very or slightly significant risk of being at risk in the coming months, with one in five (17%) rate the possibility as very high.

Italians and Greeks were most concerned about their financial prospects, with 70% and 68% respectively very or somewhat concerned. About 47% of respondents in the UK said they considered the risk of instability to be significant, and 42% of respondents in France shared the same opinion.

The survey showed that parents, in particular, feel a lot of stress. An overwhelming majority (72%) in six countries said they cut spending on their leisure time (76%), hair care and cosmetics (72%), and slashed their clothing budget (72%) to preserve their children’s quality of life. .

Nearly half of parents (48%) in six European countries also said they regularly cut back on their own meals to feed their children, while 66% said they found themselves forced to restrict their children’s activities, including outings and holidays.

On average, 49% of Europeans, including 50% in the UK, of parents said they were worried they would not be able to meet their children’s future needs, while 33% said they were no longer able to provide the most varied diet possible. their children as before.

The study showed striking differences across countries in terms of which groups were considered most at risk of poverty: pensioners in Germany (61%), young people in Italy (57%), and single-parent families in the UK (55%).