ACCI REPORT - Greeks still pessimistic about economy

There is still widespread pessimism among Greeks about the prospects of the economy and the efficiency of both the previous and current coalition governments ruling Greece, according to an 'Economic Barometer' survey commissioned by the Athens Chamber of Commerce and Industry (ACCI), whose results were recently dispatched by the state news agency. In spite of this, those with a pessimistic outlook about the country's economic prospects were significantly reduced relative to June 2012.

Nearly seven in 10 (67 percent) of those responding to the ALCO phone survey, conducted on June 25-27 using a sample of 1,000 individuals over 18 throughout the country, had a negative opinion of the work done by the previous three-party coalition government. About 63 percent said that the two-party government arising from a recent reshuffle will not be more successful than its predecessor. Roughly 28 percent replied that the new government will be successful and 9 percent did not offer any opinion.

Public opinion was divided on the third question put by ACCI, concerning whether the new government will succeed in reducing the public sector within the deadline set by the country's creditors and the EU-IMF troika. Of those responding, 49 percent replied that this was not possible and 36 percent believe that the new government is capable of achieving the target set by the troika, while 15 percent refused to reply.

Replying to standard questions about the future course of Greece's economy, 70 percent say they continue to be pessimistic, down from 84 percent in June 2012. Those optimistic about the prospects of the economy doubled from 8 percent in June 2012 to 16 percent in June 2013, while the remainder refused to reply.

Replies to the second standard Economic Barometer question referring to personal finances similarly showed a slight improvement, with 70 percent pessimistic about their personal financial future relative to 85 percent in June 2012. With respect to personal finances, the percentage of those believing that they will improve increase by 6 percentage points to 14 percent, upf rom 8 percent last year. There was also an increase in those refusing to reply, from 7 percent to 13 percent.

Unveiling the survey, ACCI Chairman Constantine Mihalos said it revealed that society was at the end of its tether and this was the main cause of the negative judgement of the present and former governments, while citizens also doubted whether necessary reforms will be carried out. He called for "measures with an immediate result that will boost the climate in the market and society".