A big part of the shadow economy, the tax evasion in Greece that prevails among the self-employed substantially ups the deficit and distorts fiscal policy.
With a euro zone update on Greece unfolding (they might lease some islands but we’ll get to that in a moment), here is some Greek math that Michael Lewis presents in Boomerang. Referring to the deficit, during October 2009, the…
With a March 20 deadline approaching, new European bailout negotiations continue to emphasize austerity. Curious about what austerity specifically meant, I looked at a Greek newspaper. In the sports section, they discussed the plight of Greece and the Olympics. Athens Olympic Park,…
Having added property taxes to electric bills, the Greek government is shutting off the power to people who do not pay what they owe. The response? In a northern suburb of Athens, a mayor has assembled a group of electricians…
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