Development Minister Michalis Chrysochoidis
“The Finance Ministry is desperately seeking ways to contain the fiscal deficit that has swollen due to additional grants to social security funds totaling 0.5-0.9 percent of GDP and due to the lagging of public revenues in the year’s first 11 months.
Finance Minister Evangelos Venizelos and his alternate, Filippos Sachinidis, met on Monday with the other high-level ministry officials and agreed to issue an order to the country’s tax authorities to immediately stop paying tax returns to taxpayers, companies and state suppliers.
They also decided to promote a new regulation at the start of 2012 allowing for old debts to be paid in 60 installments, at a minimum sum of 300 euros each, in an effort to bring more revenues into the state coffers.
Provisional figures for the first 10 days of December showed that public revenues remained at low levels, although a pleasant surprise came in the form of the special property tax paid through electricity bills. This revenue has exceeded expectations, although a share of that will have to be returned owing to errors made in calculating the tax for certain property owners.”
Translation, no money, no government payments. Millions are pulling their assets out of Greek banks. Greece has at best a few months before it all comes undone. The lazy government parasites sold the world on the promise of Keynesian economics and the welfare state. Milton Friedman had it right when he said “There is no free lunch.” The day has come for the Greeks when they will go without. Another dead socialist dream.
Today in History: May 18th, 2013 Open Thread
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