IMF Ultimatum to Greece: Rich Must Pay Taxes Too

The Gods look to be a little angry.

Inquiring minds are reading of the IMF giving Greece an ultimatum that they must make their wealthy pay taxes:

In New York today, the head of the IMF’s external relations, Caroline Atkinson, laid out the Fund’s position on the anti-crisis measures adopted by the government of Prime Minister Papandreou, saying that “there should be an equal distribution of burdens, and the rich must pay their taxes”.

Confirmation of the country’s enormous difficulties came in the latest estimates on unemployment, which rose to a new high of 12.4% in the third quarter of the year, a 3.1% increase compared to the equivalent period of 2009.

To tackle the figures and to reform the job market, the government intends to accelerate the programme of privatisations in order to gain income of more than 7 billion euros by 2013, a sum that will help to reduce budget deficit, as Greece’s creditors have requested.

The sectors subject to privatisation range from the water industry to mining, and will concern the Mont Parnes Casino and horse racing. The plan also foresees the sale of 11 regional airport and the development of 850 tourism ports.

This is a rather large paradigm shift, don’t you think?


Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )


Connecting to %s

%d bloggers like this: