Almarai wins 'Best Corporate Sukuk' at Asset Triple A Islamic Finance Awards    Top climber falls to death after rare Himalayan feat    US voters flying home in time for election    Drones and snipers on standby to protect Arizona vote-counters    India's Modi condemns violence after Canada temple incident    Harris and Trump make final push in must-win Pennsylvania    Mitrovic's hat-trick leads Al Hilal to 3-0 victory over Esteghlal    Al Ahli extends perfect start with 5-1 victory over Al Shorta    Saudi crown prince, Tunisian president review bilateral relations in phone call    Al-Khereiji: Collective action in combating terrorism is a must for achieving stability and prosperity    SFDA Chief visits premier biotechnology and medical firms in China    Saudi Awwal Bank becomes the Kingdom's first bank obtaining ISO certification for quality management system in operations    Saudi Arabia's non-oil revenues grow 6% in 9 months while Q3 budget posts SR30 billion deficit    10 cooperation agreements signed during Saudi-Turkish Business Forum in Istanbul    Quincy Jones, titan of US music, dies aged 91    Enhancing zakat, tax, and customs compliance takes center stage at the Zakat, Tax, and Customs Conference 2024    Neymar expected to join Al Hilal squad for AFC clash against Esteghlal, says coach Jesus    Al Qadsiah secure 2-0 victory over Al Ettifaq in first Eastern Derby since 2021    Hidden sugars in Asia's baby food spark concerns    HONOR unveils pre-order of the stunning HONOR MagicBook Art 14 Featuring an ultra-slim design, HONOR Eye Comfort Display and AI Cross-OS WorkStation    India puts blockbuster Pakistani film on hold    The Vikings and the Islamic world    Filipino pilgrim's incredible evolution from an enemy of Islam to its staunch advocate    Muted Eid celebrations for millions of Nigerian Muslims    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.



Greeks divided over cuts, Sarkozy vows support
Published in Saudi Press Agency on 06 - 03 - 2010

Greeks are divided over the government's increasingly harsh austerity measures, polls showed on Saturday, a day after thousands marched in Athens to protest against steps to rein in the country's swollen budget deficit, according to Reuters.
One poll, carried out by Kapa Research for the To Vima newspaper, showed 46.6 percent of 1,044 people surveyed backed new tax hikes and spending cuts worth 4.8 billion euros ($6.5 billion) while 47.9 percent disapproved.
The surveys indicated strong opposition to some specific measures, however, showing the government cannot expect an easy ride grappling with a budget crisis that has rocked the euro.
Police clashed with dozens of stone-throwing youths in Athens on Friday but protests were much more low key than riots in 2008 and an estimated total turnout of about 12,000 was a small fraction of the capital's population of 3 million.
Unions representing half the country's 5 million strong workforce have brought forward a national strike to March 11.
Saturday's surveys came after EU leaders expressed confidence on Friday that the new measures would be enough for Greece not to need a bailout from its European neighbours.
Greek Prime Minister George Papandreou received political support but no promise of any specific financial aid at talks with Chancellor Angela Merkel in Berlin and with Eurogroup chairman Jean-Claude Juncker in Luxembourg.
Papandreou pledged on Saturday not to let Greece default.
But French President Nicolas Sarkozy made clear he was ready to help if Greece's financial situation were to deteriorate.
Papandreou is due in Paris on Sunday as part of a tour to seek backing for his country, whose debt has swollen to about 300 billion euros, well above its annual economic output.
"If we created the euro, we cannot let a country fall that is in the euro zone. Otherwise, there was no point in creating the euro," Sarkozy said at a meeting with farmers. "The euro has no sense if there is no solidarity."
A second survey by pollster Alco published in Sunday's Proto Thema newspaper showed 50 percent of 1,000 respondents had a negative view of the government following the latest bout of belt-tightening while 41 percent had a positive view.
A survey conducted by the same pollster in January but asking different questions showed Papandreou's PASOK party enjoyed support of 34.7 percent. Two polls carried out in late February before the latest cuts showed just over half of Greeks believed the government was tackling the crisis effectively.
On the downside for the government, the latest Alco poll showed 86.2 percent considered the new cuts unfair, 71.9 percent described them as tough and 64 percent said Papandreou had yet to convince them the package could pull Greece out of crisis.
"SUPERHUMAN EFFORT"
Both surveys showed strong opposition to measures immediately affecting voters such as higher value added tax, cuts to public sector holiday bonuses and a pension freeze.
The results echoed a survey published on Friday which also showed strong support for measures such as higher taxes on tobacco, alcohol and luxury goods.
The Proto Thema newspaper concluded that its poll showed strong opposition to the measures but that government support was holding firm and in line with levels seen at the time of last October's snap general election.
Papandreou's socialist PASOK party has 160 out of 300 seats in parliament, ensuring his latest budget measures were passed on Friday, and replaced a conservative administration accused of concealing the full extent of Greece's economic woes.
Ratings agencies and other EU governments have said ability to deliver will be key to determining whether Greece can re-establish its credibility diplomatically and as a borrower.
Economists also say the performance of the Greek economy, and the extent to which the cuts hamper any recovery from recession, will be a major risk in the coming months.
"The choice facing all Greeks today is collapse or rescuing Greece," Labour Minister Andreas Loverdos said in an interview published in the Greek Isotimia newspaper on Saturday.
Workers spent the night boarding up broken shop windows and painting over graffiti in Athens after Friday's protests but Papandreou saved his condemnation for financial market speculators, pledging to lead any EU efforts to rein them in.
"It is not just unfair, it is also undemocratic that while the government is putting in a superhuman effort, a few kids in New York and elsewhere, seated in front of their computers, undermine it," he told the Kosmos Tou Ependyti newspaper.
"We won't let Greece default," he added.
Public opposition to the government cutbacks has so far been relatively muted by both Greek and European standards.
In Ireland, which has also slashed spending aggressively but did so much more quickly, some 100,000 protesters last year marched through Dublin, which is one-third the size of Athens.
The latest protests in Greece have been much less violent than those seen in December 2008, when dozens of people were injured, hundreds arrested, scores of shops destroyed and more than 15,000 police deployed on the streets of Athens alone.


Clic here to read the story from its source.