Euro zone: What would happen if there was a vote on zero interest rates?

What would happen if euro-zone households were asked to vote for or against zero interest rates? We have to determine who wins or loses from zero interest rates: Households that own their homes are winners, due to the rise in real estate prices; Households that want to buy homes suffer from the rise in real estate prices, but benefit from the low interest rates on mortgage loans; Households benefit from the low cost of consumer credit; Savers and future pensioners are negatively affected by the low return on bond portfolios. All things considered, when we look at the size of gains or losses, we see that the gains (wealth, on the cost of debt) outweigh the losses (on incomes from bond portfolios or term deposits): euro-zone households would vote for zero interest rates .