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Now Greece Bans Cash – Again
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peek into the future of the U.S. ?
how many people working under the table?
Friday, January 11, 2013
Now Greece Bans Cash – Again
By Staff Report
[Feedback]
8
Greek Parliament
Greek Finance Ministry plans to put an end to cash payments. Purchases worth more than 500 euro will be not possible with cash money anymore. Finance minister Yiannis Stournaras told the Parliament on Thursday that he examines that "the expansion of electronic transactions with credit cards and other electronic payment methods for a wide range of transactions for amounts much smaller than those required by current legislation," which is currently at 3,000 euro. All transactions worth more than 500 euro will have to be made only through money transfer through banks, or credit/debit cards and checks. – Keep Talking Greece
Dominant Social Theme: Irresponsible people – not paying their fair share – are forcing us to do this.
Free-Market Analysis: Greece is going to ban most cash transactions. As of last year, cash transactions over 1500 euros were banned. This moves the ban down by 1,000 euros.
But from what we've read, the average Greek's transactions are already recorded in numerous ways so it is possible this move – reported speculatively in several publications to be sure (including apparently the Greek Ekathimerini News) – is aimed at impressing officials at the European Union and International Monetary Fund. Greece is shortly due for a good deal more bailout money.
In fact, the Greek Parliament is voting today on a new tax bill that broadens the tax base to raise another 2.5 billion euros, and also introduces new annual income thresholds for salaried taxpayers. It does away with tax breaks for the self-employed.
Entrepreneurs have emerged as the latest "bandits" in Greece's ongoing efforts to bleed the wretched Greek carcass of its last available drop of revenue. Government benefits have been slashed, taxes raised and Greeks are being pursued with maniacal determination for taxes, paid or not.
more>>>>
[link to www.thedailybell.com]
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