A new survey indicates that the French people are worried France may be headed for an economic crisis on the scale of Greece's or Spain's.
The survey was published Thursday, 3 days ahead the final round of Presidential elections.
The poll conducted by Ifop said 49% of respondents believe France will probably end up in the same economic situation as Greece or Spain in the coming months or years, and 13% said it certainly will.
An Ifop poll in February found 17% of French people thought their country would most likely end up in a similar economic straits as Greece or Spain, and 32% were certain it would. The latest findings are based on the responses of 939 people between 28 April 28 and 1 May.
Economists at www.livetradingnews.com warned of the potential contagion sometime ago.
Spain entered recession at the end of March with almost 25% of its workforce unemployed, according to official data.
Standard & Poor's cut its rating on Spain last month 2 notches to the 3rd lowest of 10 investment grades, saying it is very unlikely the country will meet its deficit reduction targets. Ifop has been running the survey since March 2010, always using the example of Greece, but not always Spain.
Greece is now in its 5th yr of recession, with unemployment at more than 20%. Greece's economic woes have shut it out of markets, forced it to restructure its debt and live on bailouts from the EU and the International Monetary Fund (IMF).
Paul A. Ebeling, Jnr.
Paul A. Ebeling, Jnr. writes and publishes The Red Roadmaster's Technical Report on the US Major Market Indices, a weekly, highly-regarded financial market letter, read by opinion makers, business leaders and organizations around the world.
Paul A. Ebeling, Jnr has studied the global financial and stock markets since 1984, following a successful business career that included investment banking, and market and business analysis. He is a specialist in equities/commodities, and an accomplished chart reader who advises technicians with regard to Major Indices Resistance/Support Levels.