by Calculated Risk on 9/11/2011 12:20:00 PM
Sunday, September 11, 2011
Greece Government announces new property tax
From Reuters: Greece opts for property levy to boost budget revenue
Greece on Sunday announced a new tax on real estate ... "It is a special levy on property which will be collected through electricity bills," Finance Minister Evangelos Venizelos [said].The tax is €4 per square meter (about $0.50 per sq. feet). The government is projecting this levy will make up for the revenue shortfall due to the sharper than expected contraction in the Greek economy.
The Greek 2 year yield is at 57%. The Portuguese 2 year yield is up to 15.7% (after falling below 12% in August). Also the Irish 2 year yield is at 9.3% (below 8% in August).
The next few weeks are "make or break" for the next Greek bailout.
Yesterday:
• Schedule for Week of Sept 11th
• Summary for Week ending September 9th