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Survey: 48.1% Greeks Say “Yes” To Bankruptcy?

No matter what dilemma PM Lucas Papademos puts on the table (Bailout+Austerity or Default), the Greek people seem to have a different opinion. They haven’t elected him to be prime minister anyway.

 In a public survey conducted by RASS, 48.1% of the Greeks say “Yes” to Bankruptcy, while 38% say “No”. The majority (61.5%) wants elections now.

As for the political parties…. Papademos coalition partners: conservative Nea Dimokratia gets 21.4%, socialist PASOK 8.7%, LAOS3.9% = togeher 34.2%

Democratic Left gets 13.7%, left-wing SYRIZA 8.8%, Communist Party 7.1%, Ecologists 4.2% = together 33.8%

Three smaller parties (centre-right, extreme-right, left) would not pass the threshold.

20% of the asked did not say what party they would vote.

source: News247.gr does not say for whom the poll was conducted though…

PSd I haven’t seen this poll in any other website or Greek media .

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  1. KTG, I tried to help but all I found was this video http://www.reuters.com/video/2012/…/greeks-lose-faith-in-politicians-poll?... from 3 days ago.

  2. Thanks for this website. I have been trying to find out what the people of Greek really think, but there is almost no coverage in mainstream media.

  3. KTG.
    The only way to find out what the Greek people want (and in fact the rest of Europe) is to hold a referendum. Referendum is a dirty word in European politics so I guess we will never know.

  4. This is one take on Greece’s predicament today, from one of the best (in my opinion) of British Politicians:


  5. We have heard the doom and gloom propaganda about a Greek default and return to the Drachma from the likes of Papademos – here is an alternative point of view from a respected economist:

  6. Thanks Tedw, very good article. This piece seems to make alot of sense. Wish we would see additional opinions.

  7. The 48.1% of the Greeks who say ‘yes’ to bankruptcy and return to Drachma are mostly the ones who have their money abroad. 60 billion euro left the country during the last two years. These are the people who are eager to buy out the other 38% of the Greeks who want to stay in Euro.

    • Whether returning to the drachma helps those with their money abroad I have no idea, but how on earth is staying in the euro helping ordinary Greeks, they’re the ones being penalised, they’re not being helped by the bail out money, the only winners in this are the French/German banks. All staying in the euro does is keep those banks from collapsing, most of the bail out money goes to them. The euro is an abomination, it was a political act, not a benign economic one. Greece is in a catch 22, stay in the euro and Greece will not even start to recover for generations, come out and yes, they’ll be a few years of austerity but nothing like the EU is imposing, plus when Merkel/Sarkozy have wrung every last euro & islands etc., from the Greeks don’t be surprised if they are the ones that sling Greece out of the euro, never underestimate the devious, underhand machinations of the EU. And don’t be too surprised if the EU Rapid Response Unit turn up in Greece to put the plebs down. I have to say it’s heartbreaking to see Athens burning, I hope none of your treasured ancient buildings are destroyed.

  8. In 2009, the Greek (central government) deficit was 24 billion euro and is estimated to drop to 5 billion in 2012. The Greek trade deficit also is huge, while the country’s exports contribute only 8% of GDP.

    So, Greece is not self-sustainable right now and a bankruptcy will bring Greece back to the 50s. The following are a few of examples of how this will happen:

    1. The current annual deficit would not be covered because no one in the world would lend us his money to do so. Therefore, Greece will be forced to leave the Euro and issue a new and up to 70% devalued Drachma. This is where money in overvalued currencies from abroad (euros, swiss francs, pounds sterling, dollars) will come in to buy the assets of the ‘strained’ Greek public and private sector at a very low price.

    2. Many vital imports (drugs, hospital equipment, energy/fuel, etc) will have to be massively reduced due to the unfavourable currency exchange rate. Even the agricultural and livestock market will be diminished, since we no longer produce enough to feed ourselves. From 2000 to 2010, Greece spent 63 billion on imports of agricultural and livestock products. For example, of the 35,000 tonnes of beans consumed annually, Greece produces 7,000 tons only. Unfortunately, the virtual prosperity which we experienced during the last decades does not make it easy for us to get suddenly into farming and (even if we had to do so due to a bankruptcy) it will take many years to bring production to the level of self-sustainability. Needless, to say that farming equipment, fertilizers, animal feed etc are all also imported.

    3. In this environment, black-market practices will thrive and illegal every-day transactions in foreign currencies will become the norm.

    In conclusion, the internal devaluation which we are currently experiencing in Greece is undoubtedly making us poorer. But, this is happening in a controlled (rather than jungle-like) manner and at the same time we are forced to ‘put our house in order’. Nobody can go on consuming more than he can produce!!!

    The EU is a dynamic entity and policies are bound to change. Today’s agenda is fiscal austerity, whereas tomorrow’s will be economic growth. When this change happens, it will be better for Greece to be in Euro rather than out of it.

  9. I agree you “have to put your house in order” but that’s for the Greek people to do by electing decent, honest politicans to govern, it’s not for foreign bodies placed in your parliament to be putting Greece’s house in order. Black markets thrive, as they do in most European countries not in Greece’s position because, most cases outside of Greece special interest groups have demanded higher taxes on tobacco, alcohol & junk food as a way to control what people do, and greedy, self-serving politicans went along hoping for a windfall in taxes, instead they’ve lost revenue, and I, for one, think the loss of taxes to the black market is divine justice, with their greed & social engineering programmes they never, ever learn, the higher the taxes the less revenue they receive…. Today’s agenda, fiscal austerity, tomorrow’s econmic growth, sorry I have to laugh here, lol, what tomorrow are you talking about while still in the euro, Tuesday, 14th February, 2040, if that early.

  10. FOR SOME REASON THE FULL POST WASN’T ACCEPTED, IT’S WHY i’VE PUT IT IN TWO POSTS.———While you hang onto the euro there will be NO economic growth. I honestly feel much sympathy for ordinary Greek people, but in saying that, if you look at the comments on many blogs & newspapers in other parts of Europe, even the USA, many are losing sympathy by the wanting to keep the euro/EU, are getting pretty angry that their taxes are propping up the euro because the Greeks have believed the propaganda that they can’t manage without it, or perhaps the polls are rigged. And I have to say I am getting pretty angry that my taxes are being used to keep bailing out the euro while there’s elderly people dying of hypothermia in Britain because of fuel poverty, all thanks to the EU and the self-interested eco-greenshirts. So fine you keep the euro but don’t expect others to be happy with the bail outs, we can’t afford it, we have to borrow money to give to you to pay the French/German banks, if it actually went to the Greek people then most wouldn’t mind, sorry but in the circumstances, and Greeks wanting to prop up the euro by staying in, I do mind. But I do think that Greece will exit the euro one way or another, Merkel/Sarkozy will wring as much as they can from ordinary Greeks and when they’re assured French/German banks can survive you’ll be out. I can’t say how many comments I’ve seen over the weeks saying that the cradle of democracy, Greece, has been brought this low by unelected bureaucrats and corrupt, lickspittle politicans. From what I’ve read the EU has already changed the goal posts, they’re looking for another £325 million of cuts, many think they want Greece out of the euro, only on their terms. Somehow I don’t think this post will be allowed, they’re often refused when not agreeing with the pro-euro stance, if I’m wrong apologies now. BTW: I honestly think the hoodies doing the looting are part & parcel of the authorities, especially when the police stand by and let it happen, look to Canada and some other European countries for this little trick to pass off a serious, non-violent/looting demonstration as anarchists. Please don’t fall for it.

    • and Yes, you’re wrong. The ‘censorship’ has other motives and no pro or con Euro. BTW: these 325 million euro cuts are part of the austerity package, that the government has to find out where they from they will be cut.

    • Some thoughts, in response:

      1. I do favour high taxes where appropriate (e.g. on everything socially toxic, from wealth to nuclear). Indeed, by putting higher taxes on tobacco, alcohol & junk food, states try to control what people do and rightly so. It has nothing to do with encouraging black market practices. What’s wrong with being healthy, instead of being a burden to your family and friends and to the national economy after all? By the way, I do smoke, drink and I like fast food!!!
      2. If Euro/EU is bad why so many countries are queuing up to be part of it? Amongst the many, the ‘debt partisan’ Iceland is now knocking the door to get in!
      3. ‘Bail-outs’ is an MSM term, whereas ‘Loans’ is more realistic. Greece, Portugal and Ireland pay huge interest on these loans and some lending countries are acting as loan-sharks (i.e. borrowing money with 1%, only to lend to it to Greece and the rest with 4%). I sincerely hope that some of these earnings go towards catering for their old and needy.
      4. The more loans you give someone, the tougher it gets to kick him out of your life, because otherwise you are likely to loose everything. So, Greece most probably will stay in Euro/EU and its lenders will make sure it behaves as a good debtor all the way (for the next 20 years or so at least).
      5. Most Greeks are very aware of the hoodies’ destructive role and its origins.

  11. Thank you for your reply KTG, appreciated. Keep up the good work of reporting what the MSM doesn’t.

    • MSM?

      • Main Stream Media, the press, TV news. The worst offender for propaganda in the UK is the British Broadcasting Corporation, otherwise known as the British B**lsh** Corporation. It is a great supporter of all things EU, they get grants/loans from them. You’d never know there was anything wrong in Greece, if you relied on the BBC. And we have to pay for a TV licence, whether one watches it or not, for this propagandist entity, non-payment can lead to a £1,000 fine, even imprisonment. IMO the majority of press/TV news within the EU supresses much of what’s happening, that’s why it’s vital to have blogs like this & others to be kept informed of the true reality of what’s going on. Thanks.

  12. Well, 48% are for a bankruptcy, but also 70+% are for Greece staying in the Eurozone. Shouldn’t their political leaders finally tell them that it’s totally unlikely they can have both? If Greece defaults, other European governments will have to stabilize their financial sectors and thus most probably won’t give any additional support to Athens. And no investors would buy bonds from a country with such a lousy credit rating that has just defaulted on the old debt. So, without a source for more Euros, the Greek government will have to balance the budget from day x+1 on! And that means either even harsher austerity (political suicide) or a return to the drachme and financing the state with freshly printed banknotes. Of course, this would result in high inflation, and especially working class folks would have to bear that burden.

    So, sorry, but there is no easy way out, sadly. And people should be told the truth, instead of being misled by demagogues with fairy tales like Greece staying in the Eurozone despite a bankruptcy. People should have a clear choice. Enough with all the phony promises, it high time for a new kind of politics in Hellas!