Loans and Finance

Loans and Finance

Text

News and information about loans, money, debt, finance and business issues.

Monday, December 17, 2012

Greece's New Fence

Today's announcement by Greece that it has completed its "anti immigration" fence along its border with Turkey could not have come at a better time, for it seems that it is still struggling to collect back dated taxes.

The Washington Post reports:
"The European Union says that Greek tax collection is still falling well short of some key targets that need to be met to reduce the government’s staggering debt pile.

The EU’s task force to help Greece overcome the crisis that brought it to the brink of bankruptcy said in Monday’s quarterly report that Athens still has trouble to deal with old, outstanding tax claims. With 2 months to go in 2012, it was still about a billion euros behind the EU target of recovering €2 billion."
The fence will not only help prevent immigration, but also stop Greek citizens escaping from their own country.

No comments:

Post a Comment