Thursday, December 29, 2011

Greek Tax Officials Strike

Wall Street Journal
December 29, 2011

Greek tax officials began a 48-hour walkout Thursday to protest wage cuts and other changes imposed by the government as Greece struggles to meet revenue targets it has promised international creditors.

The strike closed tax offices around the country on the last two working days of the year, and forced the government to extend deadlines for the payment of some year-end taxes.

Greece is now in the second year of an austerity drive aimed at closing a yawning budget gap that has forced it to seek official aid from its European partners and the International Monetary Fund.

It has introduced a range of new taxes and deep spending cuts. But lagging tax collections have forced the government to admit it will miss its deficit targets this year, with a budget gap expected to be 9% of gross domestic product, or €19.68 billion.


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