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Troubled Greek govt slaps on new real estate tax

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Troubled Greek govt slaps on new real estate tax


The Greek government has announced a new real estate tax to try to plug a hole in its budget for this year.

The news comes amid increasing concern that Athens is not committed to an IMF/EU bailout plan and staying in the euro.

Prime Minister George Papandreou said:

“We don’t want to stand on borrowed force, we want to stand on our own feet. That’s why in July we also discussed a Marshall plan, in other words a development plan for Greece. Indeed, we are not going to face the debt if we don’t have development.”

While the politicians and the bankers debate solutions, demonstrations against austerity measures continue.

Greece has been missing fiscal targets and rumours of imminent bankruptcy are rife. There is also a threat that the next bailout payment of eight billion euros could be blocked next month.

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