By Maria Petrakis March 7 (Bloomberg) — A majority of Greeks back Prime Minister George Papandreou even after he announced 4.8 billion euros ($6.5 billion) in new budget cuts, a poll showed. A total of 51.9 percent supported Papandreou, compared with 47.5 percent who didn’t, according to a survey of 1,044 people by Kapa Research published in To Vima newspaper today. The poll showed 47.9 percent of those questioned disagreed overall with the austerity moves, while 46.6 percent approved of it. The measures include cuts in vacation leave and bonuses for civil servants as well as tax increases. Papandreou’s third package of cuts and tax increases has prompted walkouts by labor unions and drawn praise from European Union officials. It includes a 30 percent reduction in bonus- salary payments to civil servants, a 7 percent overall decrease in wages at wider public-sector companies and an increase in the main value-added tax rate to 21 percent from 19 percent. Greek bonds have gained. A total of 86.9 percent said the measures would provoke social unrest, the poll showed. Asked if they would vote to leave the euro zone and return to using the drachma, 63 percent said they wouldn’t. The survey was conducted on March 4, the day after the government announced the new deficit cuts. The margin of error is three percentage points. To contact the reporter on this story: Maria Petrakis in Athens at mpetrakis@bloomberg.net
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Greeks Back Papandreou Even After $6.5 Billion in Budget Cuts, Poll Shows
