September 16, 2011
Thousands of Britons with real estate in Greece have been caught up in the country's debt drama following the government's announcement of a new property tax touted as the only way of plugging a €2bn (£1.7bn) budget shortfall.
The emergency levy has sparked outrage, with tax experts estimating the extra expense will cost around €1,000 for the average household – on top of a barrage of other austerity measures.
"It is a dramatic step but with a knife up against our throat we had no other option," said the minister for rural development and food, Kostas Skandalidis, echoing the widespread disquiet the new tax has triggered among the ruling socialists. "I agree it is totally unfair," he said.
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