Thursday March 5, 2015 Search
Weather | Athens
20o C
11o C
News
Business
Comment
Life
Sports
Community
Survival Guide
Greek Edition
Purification rituals

By Nikos Xydakis

The collection of higher-than-expected state revenues (which exceeded the target set for the seven-month period by 555 million euros) from income taxes and the terrible introduction of the new single property tax, better known by its acronym ENFIA, which prompted an outcry after erroneous data used to calculate it resulted in disproportionate levies for thousands of homeowners, both speak volumes about the recklessness of senior officials at the helm of Greeces Finance Ministry.

In addition, both examples regrettably point to an inexcusable degree of insensitivity and ignorance among ruling officials about the dismal state of Greek society and the economy.

The unprecedented taxes that the conservative-led government has imposed on taxpayers, businesspeople, professionals and salaried workers are being paid with money that they dont have to spare. Their contributions are made at the expense of liquidity, the vitality of businesses, already scant demand and the national economy in general.

As the deadly deflation deepens, as the economy remains locked in recession for a sixth consecutive year, and as unemployment hovers at a stubbornly high rate, it simply makes no sense to drain the economy in advance. The Greek economy is dying for liquidity and demand-side measures while people are desperate for jobs.

The premier and his senior ministers must put their spreadsheets aside and instead take a drive around the country as soon as possible. They would be advised to have a chat with some of the producers and manufacturers out there. They will most likely tell them that at the end of each month they struggle to pay their taxes and meet their financial obligations to the state. At the end of each month, they wonder whether they have any material and mental capital left to carry on with their businesses.

What the governments economy planners are doing in draining the real economy and households is a mistake of historic proportions. The policy must be reversed now, before every last business has been brought to its knees. The need is even greater given the international environment: The countries of the euro area are flirting with recession and deflation. Europe is paying a heavy price for its geopolitical role in Ukraine. Greece can no longer stand the purification rituals orchestrated by Brussels and Berlin.

ekathimerini.com , Saturday August 23, 2014 (13:42)  
Greek-Turkish relations
Government policy
Greek officials have ruffled feathers in Brussels for not having good diplomatic manners
Up the creek without a paddle
Kasidiaris refuses any involvement in Baltakos recording
Golden Dawn MP Ilias Kasidiaris on Thursday faced an investigative magistrate in a case involving the secret recording of a conversation with former cabinet secretary Panayiotis Baltakos, a ...
Alleged Xeros accomplice refuses to answer magistrates questions
Angeliki Spyropoulou, 22, faced an investigative magistrate on Thursday but refused to answer any questions regarding charges brought against her for allegedly acting as an accomplice of con...
Inside News
Court blocks sale of luxury Astir seaside resort
Greece's top administrative court has blocked the sale of a luxury seaside resort outside Athens to an Arab-Turkish fund, court officials said on Thursday, dealing a further blow to the coun...
Greece cannot rely on ECB to dodge funding crunch, Draghi says
Greece cannot rely on the European Central Bank to raise a limit on Athens' issuance of short-term debt, ECB President Mario Draghi suggested on Thursday. He also said the rules meant the EC...
Inside Business
SOCCER
Super League restarts, but behind closed doors
Deputy Minister for Sports Stavros Kontonis announced on Wednesday the resumption of the Super League this weekend after it was suspended last week following crowd trouble at the Athens derb...
SOCCER
Marinakis fines Olympiakos players
Olympiakos president Evangelos Marinakis on Monday fined the team 500,000 euros for disappointing performances and called on them to make a sacrifice to win trophies or leave. "Olympiakos ...
Inside Sports
SPONSORED LINK: FinanzNachrichten.de
SPONSORED LINK: BestPrice.gr
RECENT NEWS
1. Court blocks sale of luxury Astir seaside resort
2. Greece cannot rely on ECB to dodge funding crunch, Draghi says
3. ECB keeps rates unchanged as investors await QE details
4. Kasidiaris refuses any involvement in Baltakos recording
5. Alleged Xeros accomplice refuses to answer magistrates questions
6. Unemployment edges up to 26 pct in December
more news
Today
This Week
1. Greek-Turkish relations
2. Greece seeks to plug its 'Bermuda Triangle' of lost taxes
3. Greece struggles to make debt math work amid bailout standoff
4. Greece has backup plan if March bailout cash fails to arrive, says Varoufakis
5. Draghi details sought as ECB's QE plan poised to be fleshed out
6. Government policy
Today
This Week
1. Greece to make international protest over Turkey reserving Aegean air space
2. A fierce battle looms
3. SYRIZA feeling the pain
4. The Greek tax drama
5. The unlikely winners of Greece's surrender on euro
6. Varoufakis to make six reform proposals at Monday's Eurogroup
Find us ...
... on
Twitter
... on Facebook
About us  |  Subscriptions  |  Advertising  |  Contact us  |  Athens Plus  |  RSS  |   
Copyright 2015, H KAΘHMEPINH All Rights Reserved.