10-11-2011, 16:58
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#198
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cf.mega poster
Join Date: Apr 2004
Location: Northampton
Services: Virgin Media TV&BB 350Mb,
V6 STB
Posts: 8,175
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Re: Eurozone will collapse...
Nobody forced them to spend on the ridiculous things that they have done or not get people to pay their taxes.
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Public spending soared and public sector wages practically doubled in the past decade. It has more than 340bn euros of debt - for a country of 11 million people, about 31,000 euros per person.
However, whilst money has flowed out of the government's coffers, its income has been hit by widespread tax evasion.
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It is a point of view shared by Constantine Michalos, president of the Athens Chamber of Commerce: "The horrific example I always bring is that cleaners in the Ministry of Finance earn as much as managers in other ministries," he says.
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Jubilation about the German deal to save the euro could prove short-lived if fresh news of Greek tax evasion gains wider currency. There are more Porsche Cayennes registered in Greece than taxpayers declaring an income of 50,000 euros (£43,800) or more, according to research by Professor Herakles Polemarchakis, former head of the Greek prime minister’s economic department.
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