June 23, 2011
Reuters, source of the reported Greece/EU/IMF austerity deal that has the market all in a dither, has published some interesting details on Greece’s austerity plan.
I still don’t know exactly what the EU/IMF deal is, but Greece has presented a plan to close a 3.8 billion-euro budget gap found in its previous austerity plan. It could be that closing this gap is what the EU and IMF approved of today.
But this will be accomplished, apparently, with a whole bunch of new taxes.
Sounds perfect for an economy in trouble, and in an economy where people routinely avoid paying taxes.
More
No comments:
Post a Comment