Greek Debt Crisis Shakes US Citizens' Confidence in National Economy – Poll

Last week’s uncertainty over the Greek bailout crisis took its toll on US citizens' confidence in their own economy, with more than half of those surveyed in a recent Gallup poll pessimistic about its future performance.

MOSCOW (Sputnik) — The weekly US Economic Confidence Index found that confidence in the US economy was at it lowest since September, based on three-day rolling averages between July 12 and 14.

Fifty-seven percent of respondents said the economy was "getting worse," while 39 percent saw a positive dynamic.

U.S. Economic Confidence Index was stable at —12 for the week ending July 19… http://t.co/IStxxjSvjt #GallupDaily pic.twitter.com/24Q2WYboNm

— GallupNews (@GallupNews) 21 июля 2015

This volatility in economic confidence happened around the time when Greece’s bailout talks with its creditors were about to hit a critical deadline, putting US markets on edge. The index then leveled on news of an arrangement that kept Athens in the euro area.

Greece’s earlier refusal to accept harsh bailout terms was "enough to shake Americans' confidence in the US economy, but confidence then rebounded as quickly as it fell," the pollster noted.

Athens reached an agreement to reopen bailout talks with its international creditors on July 13. Two days later, the Greek Parliament made the first legislative step toward a bailout deal when it passed a set of austerity reforms demanded by its money lenders. The second set is due to be voted on later on Wednesday.