Happy Elections, Mr. Prime Minister Efstratia Arampatzi, Martijn Burger & Spyridon Stavropoulos; Published at TVXS.GR

Alexis Tsipras’ recent call for snap elections is aimed at getting a renewed mandate after the bailout referendum and subsequent Syriza party split. Although Tsipras has to be convinced he will win the elections without problems, support for the Syriza party has been plummeting and according to the latest polls Syriza is only narrowly ahead in the election polls. Although Tsipras was not long ago hailed as the “Hope of Greece”, it can now be rightfully asked whether he has not overplayed his hand. Tsipras failed to keep his election promises, and called for a controversial referendum. The referendum was a popular vote with conflicting emotions and challenged the Greeks to decide on the acceptance or rejection of the bailout conditions set by the creditors. Despite the majority of Greeks did not approve the bailout terms and did not blame Syriza for the failure of the negotiations with the creditors, they also feared the idea of having to leave the Eurozone. When Tsipras promised the Greek electorate the best of both worlds, he was perhaps overestimating his negotiation position with the creditors, who were annoyed by the sudden announcement of the referendum. In addition, he was perhaps wrongfully expecting that holding a referendum would only create positive emotions among the Greek population by giving the power to the people and giving them the prospect of a better deal. Although footage of partying Greeks celebrating the “OXI” victory went all over the world, the bailout referendum predominantly induced a wave of worries, anxiety, and unhappiness across the country. Research conducted by Efstratia Arampatzi, Martijn Burger, and Spyridon Stavropoulos at the Erasmus Happiness Economics Research Organisation (EHERO), Erasmus University Rotterdam showed a marked decrease in happiness among Greek students after the announcement of the bailout referendum. Whereas the students that were part of the panel scored on the question “Taking all things together, how happy are you on a scale from 0 to 10” almost a 7 on average in May 2015, their average happiness score dropped to a 5.2 just after the announcement of the bailout referendum. The gloomy prospect of worsening labour markets, potential loss of family savings, hyperinflation with a return to the Drachme, and non-functioning government services reduced well-being levels of Greek students. Happiness and Syriza Support among Greek University Students, May-July 2015

7,0 40%

6,5 35%

6,0 30%

5,5 25%

5,0 20% May 2015 June 30 2015 July 6 2015 July 13 2015

Happiness (0-10) Syriza doing a Bad Job (%)

Source: Erasmus Happiness Economics Research Organisation (2015)

Greek happiness is already declining for a long time. In the World Happiness Report of 2015 by the United Nations, Greece appeared not only to be one of the least happy countries in Europe, but also the country that experienced the largest decline in happiness over the past 10 years. In addition, only few Greeks believe that their happiness will improve in the coming five years. Tsipras seem to have not been able to turn the tide in this short period of time. Trust in government, political parties, media and other institutions has hit rock bottom, which also appeared from the survey held by EHERO among university students. Although an unhappy electorate is a bad omen for Tsipras’ re- election, the Greek population may not have a good alternative. New Democracy’s transitional leader Meimarakis is not yet officially elected by his party and even among the members of New Democracy his popularity is questionable. New Democracy is also perceived as a party of the “old system” that Greeks consider responsible for the country’s current state. Other parties like the River, PASOK, KKE, Golden Dawn, and ANEL are fighting for survival and in the election polls their support is below 5%. The new party Popular Unity prepares for a “Grexit” and represents the voice of “OXI”. However, most Greeks are tired of arguing with the creditors, especially after experiencing how the capital controls affected their daily life. They demand stability and a functioning government that is not in office for itself but for its people. They demand a government that can effectively deal with Greece’s internal problems and is able to create a greater happiness and hope for a greater number of Greeks. Regardless of which political party will win the elections of September 20, this will be the biggest challenge for the future Prime Minister of Greece.

Trust in Institutions in Greece among Greek University Students; May 2015 (% that Trusts)

0% 5% 10% 15% 20% 25% 30% 35%

National government

Political parties

European Union

Media

Justice System

Police

Religious Institutions

People in general

Source: Erasmus Happiness Economics Research Organisation (2015)