No tax cuts without plan

Having hit the ground running, Greece’s conservative administration is eager to show that it is already working to cut tax rates – which was one of its main campaign pledges.

Nevertheless, there are signs that certain government officials themselves are nourishing – and cultivating among the public – excessive expectations.

However, in the wake of the debt crisis, striking a fiscal balance should be a key priority for the country and the government. Greece cannot renege on its agreements with foreign lenders, even if it wanted to. Doing so would send the wrong signals to international markets.

The government’s financial policy planners are well aware that any measures to ease the tax burden can only take place within the contours of a well thought-out, mid-term blueprint.

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