Greek Financial Crisis

[JammyP]

Read what I wrote.

You're article is from 20 June 2011

And the Telegraph is the voice of sanity and moderation...

 

[Librarian]

http://www.ibtimes.co.uk/uk-tax-gap-widens-austerity-lack-avoidance-law-1466606

A lack of anti-avoidance tax law and cuts to public services are contributing to the UK's yawning tax gap.

New research by Tax Research LLP, on behalf of the Public and Commercial Services Union, shows that the tax gap - defined as "the difference between the tax that should be paid in the UK if the tax system worked as parliament and HMRC intended, and the amount actually paid" - topped £119bn in 2013-14 and "is rising steadily".

 

[bizzaro]

Read what I wrote.

Your article is from 20 June 2011

1st May 2010

I think you're overstating the 80 to 90% tax relative to 20% in 2010.

Greece has a history of manipulating figures like GDP and so on.

They were told about this in 2004 by the Commission.

I can't believe they've increased the tax income for the public purse to 80%.

Absolutely no way.

Even if they claim it. They're lying.

 

[JammyP]

... Add to that I know people who have used buses and witnessed the driver pocketing the cash and giving no ticket. ...

Certainly worked like that on Crosville in the 1970's - pay half the fare, and the conductor pocketed it. Sold tickets like mad when the inspectors got on.

 

[The Esk]

I think you're overstating the 80 to 90% tax relative to 20% in 2010.

Greece has a history of manipulating figures like GDP and so on.

They were told about this in 2004 by the Commission.

I can't believe they've increased the tax income for the public purse to 80%.

Absolutely no way.

Even if they claim it. They're lying.

I'm not overstating anything mate,

I only ever use verifiable figures. My source was the Intra European Organisation of Tax Collectors.

 

[bizzaro]

I'm not overstating anything mate,

I only ever use verifiable figures. My source was the Intra European Organisation of Tax Collectors.

The Greeks have exaggerated their tax take.

They've done it before and they'll do it again.

 

[JammyP]

I think you're overstating the 80 to 90% tax relative to 20% in 2010.

Greece has a history of manipulating figures like GDP and so on.

They were told about this in 2004 by the Commission.

I can't believe they've increased the tax income for the public purse to 80%.

Absolutely no way.

Even if they claim it. They're lying.

Whereas the Germans entered the Euro at a rate which favoured them - making German goods cheap all over the Euro zone. So lots of VW's and Mercs in Greece, but where are the Greek-made cars? [*] And so the Germans turned a blind eye to the respects in which Greece and others did not quite meet the Euro criteria, because it was good for business. Now the chickens have come home to roost and the Germans are in the driving seat.

* FYI see https://en.wikipedia.org/wiki/Namco_(automobiles) and https://en.wikipedia.org/wiki/DIM_(automobiles)

 

[davek]

Bizzaro getting caned here. It's painful to watch. Someone needs to bail him out I reckon. Pffft!

 

[Toffeelover]

Good job we are not in the Euro, could just see Angela coming over and giving Davie a good bottom smacking.

 

[bizzaro]

Bizzaro getting caned here. It's painful to watch. Someone needs to bail him out I reckon. Pffft!

You need to get back on the commune you bad commie anarchist beaut

 

[SweetJesus849]

Good job we are not in the Euro, could just see Angela coming over and giving Davie a good bottom smacking.

All in the good name of European Austerity I'm sure

 

[hullefc]

I suppose the ECB could use QE to buy Greek debt and try and get it out of the crap. Like the US/UK did in 2008 and the ECB started doing in March 2015.

 

[The Esk]

I suppose the ECB could use QE to buy Greek debt and try and get it out of the crap.

Greece was specifically excluded from the QE programme launched in March despite it supposedly being country neutral.....

 

[chewee]

There is no middle ground in the negotiations but I can see the standpoint of both sides. Any perceived weakness and debt write off would have a knock on effect, other weak economies who've had bail outs rightfully would expect similar concessions. On the other hand realistically Greece will never be able to pay its debt off in its current state, the debt repayments are crippling growth making it impossible for them to get out of this vicious cycle. Even if somehow they get through this period it's just delaying the inevitable.

What do you do? It's a no win situation.

 

[marnie]

Monitored this for the last 18 months or so ( I live in Rhodes) I have withdrawn the little money I have and moved it.From tomorrow..... those with Greek Bank cards ....... will only be allowed to take out 60 euros a day.Tourists will be able to take out whatever they like.