10 Ways the Greek Government Screwed Their Economy
8. Turned the whole country into a tax haven and a nation of cheats
This is another way Greece resembles a Third World nation. Tax evasion is not a crime but an honorable thing to do. No wonder that with a culture of tax dodging, Greece and the nearby Cyprus earned a deserved reputation of safe havens among tax fraudsters from around the world. The Northern European welfare state was at least supported by high taxes, while Greece was dependent on foreign borrowing. Neither the entrepreneurs, nor the lawyers, doctors or other professionals were willing to pay any taxes, stating their income at or below the €12 000 threshold. This lifestyle allowed the Greeks to live in relative luxury without the burden of taxes added to it. Even the Greek tycoons were spared of taxes. The German authorities were shocked at the Greek government’s inability and lack of desire to collect taxes. They sent a team of tax professionals to teach the local taxation service how to do its job properly. The result was a public outcry and the German specialists were accused of evil intentions and compared to the World War Two Nazi invaders.
