German pessimism about Greece

Only about a quarter of ordinary Germans are in favor of debt-stricken Greece remaining in the euro area, a poll published by the Financial Times on Monday indicated. It revealed strong reluctance to grant Greece yet another bailout installment.

The study also found that about 26 percent of ordinary Germans believe that Greece would eventually fail to pay back loans to international creditors. And, almost half of the respondents thought the government in Athens would not be adamant in pushing through far-reaching economic reforms needed to wriggle out of the current financial dilemma.

Spaniards, Italians more hopeful

The poll by the Harris Institute also questioned Spaniards and Italians about Greece's prospects. These respondents appeared a lot more confident than Germans about Athens' reform endeavors.

According to the survey, 88 percent of Italians and 70 percent of Spaniards said they at least had some hope that Greece could efficiently restructure its economy for it to stay in the eurozone and get its finances in order.

Doubtful money flows

But there was still a bumpy road ahead for Greece, the Global Financial Integrity pressure group told the German magazine Der Spiegel. It claimed that some $261 billion (207 million euros) had been taken out of Greece illegally since 2003, mostly involving large-scale corruption or tax evasion.

Greece was supported by international lenders with a second tranche of bailout funds to the tune of 130 billion euros. A third installment of 31.5 billion euros hinges on the results a reform audit by The European Union, The European Central Bank (ECB) and the International Monetary Fund (IMF). Their experts are due to return to Athens this week to complete the assessment.

hg/ipj   (AFP, Reuters, dpa)