Greece's Weakened Workforce Starts To Crack
That, he argues, could leave the government unable fully cover its own commitments â¿¿ including wage and pension payments â¿¿ causing even greater poverty.
Early signs from 2013, suggest high taxes may be backfiring: January revenues sank â¿¬572 million ($765 million) from last year's figure to â¿¬4.42 billion ($5.91 billion), despite a raft of additional demands on tax payers.
When contacted by the Associated Press, officials the government's powerful new Department of Public Revenue refused to confirm widespread local media reports that 2.5 million tax payers will be sent notices starting next month demanding overdue payments.
"The question is when the tax capacity is used up ... Up until now, the state has fallen behind on payments to suppliers but it is able to pay wages and salaries," Robolis said."But if the situation gets worse I'm not certain it will be able to. If you look at other countries that went through a crisis ... when then they reached a certain point and the state told them they could not pay them, that's when the tension flared up."
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass + 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV