Sunday, June 26, 2011

Greek bank governor hits at cuts

Financial Times
June 26, 2011

Greece’s central bank governor has lashed out at the socialist government’s latest austerity measures ahead of this week’s critical parliamentary vote on a four-year austerity package.

George Provopoulos warned that pressure on Greek taxpayers had reached its limits with last week’s announcement of €5.6bn ($7.8bn) of additional measures to plug a gaping hole in the €28bn programme of spending cuts and tax increases.

“The package doesn’t give enough emphasis, in my opinion, to cutting expenditure. The extra burden on those already being taxed has exhausted the possibilities,” Mr Provopoulos said in an interview published on Sunday in the Athens newspaper Kathimerini.

The government should focus on reducing tax evasion, he said. “Tackling tax evasion is essential ... to strengthening a sense of justice and increasing the degree of consensus for the medium-term programme.”

More

No comments: