Economic crisis hits trust in governments: OECD

People reported soaring stress levels, says report

Protesters rally outside The Theodore Levin United States Courthouse in Detroit, Wednesday, Oct. 23, 2013. The city of Detroit for months has disclosed the awful condition of its finances. Now its up to a judge to determine if the largest public bankruptcy in U.S. history really can go forward. An unusual trial starts Wednesday, pitting Detroits emergency manager and his legal team against unions and pension funds that claim the city isnt qualified to scrub its books clean under Chapter 9 bankruptcy. (AP Photo/Paul Sancya)

A leading international economic think-tank says the financial crisis of the past few years has severely sapped confidence in government around the world.

The Organization for Economic Cooperation and Development, which represents the world’s wealthiest economies said in a report on Tuesday that “confidence in institutions declined substantially in countries severely hit by the crisis, while people reported soaring stress levels.”

According to the report, the percentage of people that trust national government declined in the United States from 50 per cent in 2009 to 35 per cent last year.

For the OECD’s euro area it sank from 49.1 to 42.8 per cent over the same period, while in Japan it dipped from 27 per cent in 2010 to 17 per cent last year.