Experiencing the economic crisis in the EU: Changes in living standards, deprivation and trust

This paper examines whether the period of the global financial and economic crisis has brought about changes in the quality of life of citizens of the European Union. Following a brief overview of economic growth and labour market dynamics in the EU, the paper examines selected indicators at both individual and societal level. The key questions considered are what changes there have been in living standards (such as changes in financial strain and deprivation levels) as experienced by individual respondents and their households, and whether the crisis is affecting society as a whole through depleting its social capital, measured by indicators of trust.

The paper analyses changes between 2007 (that is, the pre-crisis period, which was characterised by a steady economic growth in most of Europe) and 2009–2010 (the years of the economic crisis). The discussion is based largely on the results obtained from the 2007 EQLS and the Special Eurobarometer on Poverty and Social Exclusion conducted by the European Commission in 2009 and 2010.