Blackpool actually has it's elephants in PC now, which sucks as they're confined to that tiny paddock even more so.
Don't have a problem with circus, providing the animals are cared for. I've seen plenty of animal training in the flesh and none of it was cruel. I think there are upsides and down to both zoos and circuses:
Zoos obviously have more room, they (sometimes) keep animals in more appropriate social groups, sometimes have more breeding success and it can be argued that they live a more natural, ergo better life. However they're in the same enclosure their entire life and (IMO) never seem to have as much character as trained animals.
Circus animals get enrichment through training, they get a new enclosure every week, they quite often live longer, and one could argue that they're probably in better physical condition due to higher activity levels. Then there's some downsides, as in animals could be mistreated whilst being trained, they'll normally have smaller enclosures, and they're sometimes in bad social groupings with a lack of breeding.
Personally I don't mind it, hell the only tigers I've seen that don't pace up the fence all day long were in a circus (well, pretty much). And with elephants, how many in zoos get access to a river and trees like the ones in circus Krone in Germany? Each to their own, I just don't mind it is all.
EDIT: That Greek video is sick, gives all elephant trainers and circuses a bad name.