ECONOMY

Citizens uncertain and insecure

Public opinion appears reserved about the October 27 agreement for a 50 percent haircut to Greece?s debt to the private sector, with many believing that the measures to stem from the new loan contract will lead to a deeper recession, according to a survey by Alco.

Most people are worried partly due to the fear of the unknown, three in every five citizens say they know nothing about the agreement, while nobody knows exactly what is in the new deal as it has not been signed yet.

The ?Economic Barometer? survey, conducted for the Athens Chamber of Commerce and Industry (EBEA), showed that 53 percent of citizens argue that the October 27 deal will lead the country into a deeper recession, with only 18 percent expecting a rebound.

As for the labor market, the poll noted an unprecedented level of uncertainty, as 64 percent of respondents voiced fears of losing their job in 2012.

?Society has now experienced the negative consequences of the implementation of the austerity measures of the last few months,? commented EBEA president Constantinos Michalos.