Localization in Saudi military industries rises to 19.35%    Logistics park for vehicles worth SR300 million to be set up at Dammam port    Commerce Ministry recalls 6,500 Genesis cars due to risk of fire    HONOR KSA expands its presence with new flagship Experience Store in Riyadh HONOR's first flagship store in KSA provides visitors with a premium experience, exciting offers and free services    Saudi, Iranian foreign ministers discuss Oman-mediated talks with US    Prince Sultan University launches first bachelor's program in language and media    Al-Falih: Eastern Province hosts 700 investment opportunities worth SR330 billion    India demolishes houses of 10 alleged militants days after deadly Kashmir attack    Yemen's Houthis claim dozens killed in US strike on prison holding African migrants    Putin announces three-day Russian ceasefire in Ukraine from 8 May    Crown Prince donates SR1 billion to support housing for eligible families    Suspect charged after Vancouver car ramming leaves 11 dead    Rock & Roll Hall of Fame picks Outkast but not Oasis    Makkah police arrest Yemeni and Egyptian suspects of fake Hajj campaign    Duran leads Al Nassr past Yokohama Marinos into AFC Champions League Elite semi-finals    Al Ahli cruise past Buriram into AFC Champions League Elite semi-finals    Saudi orchestra to perform at Sydney Opera House in May    Al Hilal thrash Gwangju to reach AFC Champions League Elite semi-finals    Saudi Theater Commission launches its Work and Learn Project in UK    The season has begun — and one comment shook us all    Pakistani star's Bollywood return excites fans and riles far right    Veteran Bollywood actor Manoj Kumar dies at 87    Bollywood actress vindicated over boyfriend's death after media hounding    Grand Mufti rules against posting prayers and preaching in mosques on social media    Exotic Taif Roses Simulation Performed at Taif Rose Festival    Asian shares mixed Tuesday    Weather Forecast for Tuesday    Saudi Tourism Authority Participates in Arabian Travel Market Exhibition in Dubai    Minister of Industry Announces 50 Investment Opportunities Worth over SAR 96 Billion in Machinery, Equipment Sector    HRH Crown Prince Offers Condolences to Crown Prince of Kuwait on Death of Sheikh Fawaz Salman Abdullah Al-Ali Al-Malek Al-Sabah    HRH Crown Prince Congratulates Santiago Peña on Winning Presidential Election in Paraguay    SDAIA Launches 1st Phase of 'Elevate Program' to Train 1,000 Women on Data, AI    41 Saudi Citizens and 171 Others from Brotherly and Friendly Countries Arrive in Saudi Arabia from Sudan    Saudi Arabia Hosts 1st Meeting of Arab Authorities Controlling Medicines    General Directorate of Narcotics Control Foils Attempt to Smuggle over 5 Million Amphetamine Pills    NAVI Javelins Crowned as Champions of Women's Counter-Strike: Global Offensive (CS:GO) Competitions    Saudi Karate Team Wins Four Medals in World Youth League Championship    Third Edition of FIFA Forward Program Kicks off in Riyadh    Evacuated from Sudan, 187 Nationals from Several Countries Arrive in Jeddah    SPA Documents Thajjud Prayer at Prophet's Mosque in Madinah    SFDA Recommends to Test Blood Sugar at Home Two or Three Hours after Meals    SFDA Offers Various Recommendations for Safe Food Frying    SFDA Provides Five Tips for Using Home Blood Pressure Monitor    SFDA: Instant Soup Contains Large Amounts of Salt    Mawani: New shipping service to connect Jubail Commercial Port to 11 global ports    Custodian of the Two Holy Mosques Delivers Speech to Pilgrims, Citizens, Residents and Muslims around the World    Sheikh Al-Issa in Arafah's Sermon: Allaah Blessed You by Making It Easy for You to Carry out This Obligation. Thus, Ensure Following the Guidance of Your Prophet    Custodian of the Two Holy Mosques addresses citizens and all Muslims on the occasion of the Holy month of Ramadan    







Thank you for reporting!
This image will be automatically disabled when it gets reported by several people.



Patience is running out in Greece
By Renee Maltezou and Dina Kyriakidou
Published in The Saudi Gazette on 18 - 04 - 2010

Athens florist Lila Mastora says austerity measures have nearly wiped out her business and blames politicians for a debt crisis whose only remedy may be an international bailout.
“Yesterday we only made 10 euros. We haven't paid the rent in two months,” said Mastora, 48, as she arranged a funeral wreath at her shop near the Greek parliament.
“Who is going to buy flowers in such hard times? Average people shouldn't pay for this crisis. It's the politicians' fault.”
As Prime Minister George Papandreou prepares Greece to swallow the bitter pill of EU/IMF international aid and avoid bankruptcy, polls show a stoic public has faith in him, if not his policies during 6 months in power.
An opinion poll Friday showed two thirds of Greeks are dissatisfied with his socialist government's performance but his own approval rating actually improved slightly to 68 percent.
Papandreou has cut public salaries, hiked taxes and frozen pensions. He is trying to impose tough measures to cut budget deficits and convince that the measures are just. The public appeared to be giving him more time but not for long.
About 66 percent of those asked in the Public Issue poll believed social unrest will mount in the coming months.
“I don't believe things will get better. I am not prepared to make more sacrifices because I don't think these measures or any future cuts will get us out of the crisis,” said office clerk Anastasia Griva, 49. “This is not our fault. The rich, the politicians, the tax evaders must pay.”
Analysts say voters are willing to give the government time but, come autumn, they will demand visible results to show that their sacrifices are paying off or take to the streets.
Polls show the public blames decades of political corruption for cronies for the country's ills. Many in the private sector say they resent paying taxes to spoiled civil servants. Nearly one in five Greeks work in the public sector.
“I just went to a ministry and only two out of six employees were actually working,” said Elena Plexida, 51, a court clerk on lunch break. “They have to fire them because they don't work.”
The government has said it wants to discuss the terms of a 40-45 billion euro EU/IMF package, stopping short of activating the mechanism agreed by euro zone partners.
In a country where the word “spread” – the premium Greece has to pay over Germany to borrow – is heard in cafes and taxis from non-English speakers and regularly makes the front page, debt costs hang like a Damoclean sword over average people.
During the first recession in 16 years, unemployment hit a five-year record high of 10.3 percent in the last quarter of 2009 and is not expected to peak any time soon.
Many say there is no option but to seek outside help.
“Unfortunately the country is not experiencing the happiest of days,” wrote columnist Antonis Karakousis in the daily To Vima. “To be honest, within days we will be under international monitoring and tutelage.”
Investors have pounded Greek markets amid concerns over the country's solvency. Greece carries a 300 billion euro debt load and borrowing costs have risen to euro era record levels.
Most Greek opposition parties oppose the aid package, saying the tough conditions that come with it will hurt the poor, and unions have announced strikes. But economists and industrialists have asked the government to bite the bullet.
“The most realistic choice is to ask the activate the mechanism immediately,” said Dimitris Daskalopoulos, president of the industries association SEB.
“There is no point in negotiating ... a time table of implementing reforms that we should have done ourselves years ago.”
The socialists came to power in October to reveal the defeated conservatives had grossly under-reported the budget deficit, launching a fiscal crisis that has reverberated across international markets.
“Who's fault is this?” said central Athens garbage collector Panagiotis Fasoulas, 56, while piling bags on his truck. “Politicians and their governments took our money.”
The conservative opposition is still reeling from its defeat, the price of a string of scandals and destructive riots that froze Greece for weeks, and a leadership change has not appeased a bitter public.
“I usually vote for the right but let's support Papandreou so he can get us out of the crisis,” Fasoulas said. “My salary was cut, I can barely make ends meet but I will be patient.”


Clic here to read the story from its source.