Greece Docks Politicians’ Pay, Imposes New Property Tax

Posted September 11th, 2011 at 9:15 pm (UTC-5)
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Greece is docking a month’s pay from all elected politicians and imposing a new property tax as it struggles to show lenders it is working hard to cut its massive debt.

Greek leaders say they have to do everything possible to keep the country solvent, meet its commitments to its lenders, and keep Greece in the eurozone.

Finance Minister Evangelos Venizelos is warning that the next two months will be “hellish” for Greece.

The salary cut affects all elected officials from the president to mayors. The property tax will be levied on all buildings and will be added to electric bills to thwart tax evaders.

Greece is currently negotiating with the European Union and the International Monetary Fund on a new multi-billion dollar economic bailout. Last year’s $159 billion rescue package of loans did little to improve Greece’s dire economic situation.