November 16, 2012

The Life of Greece's One Percent

Julia Heyer, Der Spiegel

AP Photo

The Greek economy has been tanking for years now as the country struggles to balance its budget by imposing deep austerity measures. But the country's richest residents haven't noticed. Many aren't taxed at all, and some of those that are prefer to dodge their obligation to the state instead.

Read Full Article ››

TAGGED: Greece, Eurozone, Europe

RECOMMENDED ARTICLES

November 9, 2012
How to End the Agony in Greece
The Economist
A GENERAL strike; protesters on the streets; parliamentary battles over austerity measures needed to unlock rescue funds; and a sinking economy with an ever bigger debt burden. The situation in Athens this week is grimly... more ››
November 4, 2012
Greece Flirts with Tyranny
Nick Cohen, The Observer
Greek democracy is in peril and much of the fault lies with the EU's hard stance. more ››
November 16, 2012
Merkel Agrees to pay Up for the Euro
Philip Stephens, Financial Times
Ms. Merkel promised there would be no bailouts; and has since signed up to a procession of well, bailouts. The eurozone now has a permanent rescue system and a central bank that, in extremis, will act as lender as last resort.... more ››
November 9, 2012
The Greek Books Are Still Being Cooked
Jeremy Warner, Daily Telegraph
This week saw yet more austerity measures voted by the Greek parliament for yet another bail-out that won't be repaid. more ››
November 15, 2012
Europe Living in a Parallel Universe
Dalibor Rohac, National Review
European elites look straight past the reality looming before them. After the Greek parliament passed a 2013 budget that promises to keep the deficit under 5.2 percent of GDP next year, there has been no shortage of praise for... more ››