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Troika Target Of Truculence As Greek Tax Evaders Terrified

Tyler Durden's picture


The Troika technical team was chased from their Greek offices on Tuesday by an angry mob of Muni workers (who proclaimed that "they got our labor rights and conditions back to the Middle Ages"). As KeepTalkingGreece notes, this is the third incident in 24 hours as since the team arrived they have had water bottle thrown at them as well as cars kicked and 'hurled coffees'. The clip below shows the Troika member looking rather anxious as he runs from the crowd (and NewsIt reported a female Troika member seeking refuge in a bookstore). It is not just the municipal workers who are in fear though, as GreekReporter notes the unbelievable story of the re-appearance of a 'mysterious' CD containing the names of 2000 ultra-rich Greek Swiss-bank account-holders is now back in the hands of the Greek government as they press for bilateral taxation on those huge deposits. It seems rich and poor alike are not happy with the Troika's exposure of tax cheats across the desparate nation.

Via KeepTalkingGreece:

Trash cans and debris piled up in front of the Troika offices in Greece...


and the video of the anxious-looking Troika member running from the crowd..



and the incredibly 'dodgy' sounding story of the mysterious CD...


Via GreekReporter: Venizelos Gives List of 2,000 Greeks With Swiss Deposits

A list of some 2,000 Greeks with large deposits in a Swiss bank – that had been on a missing CD – was given to the government on Oct. 2 by PASOK leader Evangelos Venizelos, who said he had been given the information while he was finance minister in a former government but didn’t act on it because it was not legally obtained.


The list is thought to have been first compiled by French authorities in 2010 and submitted to then-Finance Minister George Papaconstantinou by his French counterpart Christine Lagarde, who now heads the International Monetary Fund, one of the Troika of international lenders providing Greece with rescue loans.


Venizelos is now in the coalition government headed by New Democracy leader and Prime Minister Antonis Samaras and the tiny Democratic Left and said he had been given the list by the former head of the Financial Crimes Squad SDOE Yiannis Dotis, who was replaced by a friend of Samaras’ just as an investigation into alleged high-level tax evaders was proceeding.


Papaconstantinou later claimed that he had passed the contentious CD over to SDOE, which at the time was headed by Yiannis Kapeleris, and that somewhere along the line the data went “missing,” although no one could account for it.


Current Finance Minister Yannis Stournaras told the Financial Times that he would make a “priority” of tracking down the CD containing the names of about 2,000 Greeks who had deposited money in the Geneva branch of HSBC. “I first learnt of its existence last week from the newspapers . . . but if SDOE can’t track it down, then we’ll ask our European partners for another copy,” Stournaras told the FT.


Venizelos said that Diotis had informed him of the contents of the list in August 2011, but had expressed the opinion that the CD was presented to him “unofficially” by Papaconstantinou and that the data contained on it “do not constitute a record that was submitted by due legal process to my service and therefore cannot be subject to legal inquiry and certainly not to publication.


On Oct. 2, he repeated what he said were reservations from Diotis about the legality of the list and said that any questionable use of the data could jeopardize Greece’s efforts to convince Swiss authorities to release the details of account holders in the country who are suspected to tax evasion or other financial crimes.


“Our main priority then as now is to strike a bilateral agreement between Greece and Switzerland to tax the deposits of Greeks in Switzerland along the same lines of similar agreements signed with Germany and the United Kingdom,” Venizelos said. “I hope that the agreement will be completed soon and will benefit public revenues,” he added.


In the meantime, the government is trying to keep the list secret to prevent another embarrassing gaffe after the names of 33 politicians, including seven former ministers, said to be under review to explain huge sums in their bank accounts and whether they evaded taxes, was leaked to media sources and put on the Internet.

Unbelievable!... is it any wonder the Germans are a little apprehensive? or that the Greek people are revolting?


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Tue, 10/02/2012 - 22:14 | 2850586 zorba THE GREEK
zorba THE GREEK's picture

Taxes....TAXES.......We don't need no stinking taxes.

Tue, 10/02/2012 - 22:17 | 2850594 vast-dom
vast-dom's picture

this should happen all across the planet. here in the US with increasing taxes across the board next year...will the US sheeple awake from their grazing slumber?

Tue, 10/02/2012 - 22:19 | 2850604 chump666
chump666's picture

100% going to happen. 2013 will be year of global riots.

Tue, 10/02/2012 - 22:27 | 2850632 flacon
flacon's picture

My land lord's bank (a national bank) informed me yesterday (rent day) that they no longer honour cheques from my bank (one of the world's bullion banks). In case you are wondering I live in a 1st world country with a maple leaf as it's flag. It's "cash only" or certified cheque. 


Also the daily limit on ATM is $400.... 

Tue, 10/02/2012 - 22:45 | 2850684 Dr. Engali
Dr. Engali's picture

Damn Kanucks :->

Tue, 10/02/2012 - 22:50 | 2850700 ziggy59
ziggy59's picture

I like maple


Wed, 10/03/2012 - 07:33 | 2851217 fockewulf190
fockewulf190's picture

I reckon Jim Rogers is going to have a lot of greeks for neighbors real soon.

Tue, 10/02/2012 - 22:28 | 2850636 Mr Lennon Hendrix
Mr Lennon Hendrix's picture

How can I riot? 

I don't even have Obama phone.

Tue, 10/02/2012 - 22:33 | 2850651 Long-John-Silver
Long-John-Silver's picture

The riots will start when that Obamaphone quits working and all the food stamps they give you will not buy a loaf of bread.

Tue, 10/02/2012 - 22:36 | 2850658 vast-dom
vast-dom's picture

if only one could trade foodstamps on forex - USFS will appreciate against the USD.

Tue, 10/02/2012 - 22:45 | 2850683 SafelyGraze
SafelyGraze's picture

one-minute-long visual history of global financial system


Wed, 10/03/2012 - 06:12 | 2851138 Acet
Acet's picture

A 25 second visual story of the modern financial system:


Tue, 10/02/2012 - 22:51 | 2850702 Mr Lennon Hendrix
Mr Lennon Hendrix's picture

Is 7/11 public?

Tue, 10/02/2012 - 22:39 | 2850668 ACP
ACP's picture

That's a really good point. What if they start using the Obama phones as EBTs and then they all shut down at once? Quite a scene that would be.

Tue, 10/02/2012 - 22:55 | 2850718 akak
akak's picture

I can't wait until Wal-Mart turns into Zombieland!


Oh, wait, too late ...

Tue, 10/02/2012 - 23:15 | 2850748 LetThemEatRand
LetThemEatRand's picture

The Walton heirs own 5 of the top 10 spots for wealthiest people in the U.S.  Long live the Kings and Queens of America.

Wed, 10/03/2012 - 01:59 | 2850985 Non Passaran
Non Passaran's picture

Why do you care? Good on them!

Wed, 10/03/2012 - 02:56 | 2851030 OpenThePodBayDoorHAL
OpenThePodBayDoorHAL's picture

Those five people have more money than the 1.4 million people who work at Walmart combined. Yeah, that's reaonable.

Wed, 10/03/2012 - 04:29 | 2851086 AldousHuxley
AldousHuxley's picture

you are born in America and work at walmart, then you deserve to be poor.


fuckers who shop at walmart are stupid and poor and useless to society but equally greedy as banksters for wanting more than they produce..

Tue, 10/02/2012 - 22:36 | 2850660 chump666
chump666's picture

this still cracks me up


Tue, 10/02/2012 - 22:42 | 2850672 vast-dom
vast-dom's picture

QE for the peoples! see that shit is real. too bad it's like less than a percent relative to bank bailout MBS monies. Hey Dirty baby I got your money!  


JPM et. al. don't call it gov handouts though. It's not even a central bank. It doesn't even have to do with currency. It's not a bird, not a plane, but rather, something between gov and private.  It's THE FEDERAL RESERVE. Reserve of what exactly? Federal yet not Federal. 

Tue, 10/02/2012 - 22:46 | 2850688 chump666
chump666's picture

Of course.  The money trail from taxpayers/Obama/Fed lines is obscene beyond obscene.   The two sh*thole, hypocritical (and criminal) risk engines: Fannie Mae and Freddie Mac will probably end in the black in Oct.  Housing recovery my a-hole.

Obama is just buying votes with peanuts.  Kinda sad.  But, most if not all will wake up to the con.

Tue, 10/02/2012 - 23:40 | 2850813 cxl9
cxl9's picture

Indeed. If Mr. Romney really wanted to win the election, he would simply go on television and announce, "If I win, I will send every adult citizen of the country a check for $3000 from the Treasury. Thank you, and God bless." Obama's only possible response would be to offer $4000. In that case, let the bidding begin. Money is no object when it's someone else's. At this point, the pitiful rotting carcass of the American republic is being picked over by corrupt politicians in a competition to buy votes with borrowed, printed, or fictitious money. It's time to abandon all pretense and just reveal it for what it is. In a few decades the whole sad mess will collapse, much blood will be spilt and wealth destroyed, and we'll start all over again.

Wed, 10/03/2012 - 00:28 | 2850884 chump666
chump666's picture

When you get bought and the cash runs dry, then you'll get gamed.  Hence riots, I would say that is right around the corner.

Europe is going to blow apart.


Wed, 10/03/2012 - 07:45 | 2851246 youngman
youngman's picture

When you quit paying the MOB....( both Italian and the Sheeple) you get owned...bruised and bloody

Wed, 10/03/2012 - 00:40 | 2850916 chump666
Tue, 10/02/2012 - 22:23 | 2850606 flacon
flacon's picture

An incompetent government has a silver lining..... just what is going to happen in USA when the SHTF and the government has become (or is already) the perfect "man-eating machine"?

Wed, 10/03/2012 - 06:56 | 2851180 LongSoupLine
LongSoupLine's picture

Mmmmm....silver lining.

Tue, 10/02/2012 - 22:23 | 2850610 ACP
ACP's picture

The short answer is no. During the revolutionary war 70% of people were self-employed (est.), now it's the other way around. Most in the middle class are too scared to lose their jobs to speak up.

Edit: ...or ignorant. There would need to be a very large and sustainable shock for people to be woken up in the US.

Tue, 10/02/2012 - 22:25 | 2850623 vast-dom
vast-dom's picture

you may be correct ACP. but printing may perhaps be it's very own black swan in the making. 

Tue, 10/02/2012 - 22:31 | 2850643 ACP
ACP's picture

I sure hope so (Edit: hope there is a black swan)...not because I love chaos (I really don't)...but because that seems to be the only chance we have for some real, actual, fundamental change in the way we live.

Tue, 10/02/2012 - 22:34 | 2850652 vast-dom
vast-dom's picture

agreed. every day the SP is double it's fundamentals value makes me not a little irked.

Tue, 10/02/2012 - 22:29 | 2850639 Dr. Engali
Dr. Engali's picture

There won't be a choice as the dollar's buying power is destroyed even further, and corporate margins get squeezed. The middle class will lose their jobs en mass next year. Book it.

When people have nothing else to lose they lose it.

Gerald Celente.

Tue, 10/02/2012 - 22:33 | 2850648 vast-dom
vast-dom's picture

I ran my calcs and had last year Sept as the month of a rather significant correction, but QE just delayed the inevitable. so i am not certain how at this stage one can predict with accuracy...that it could happen is more than plausible...

Tue, 10/02/2012 - 22:42 | 2850678 Dr. Engali
Dr. Engali's picture

I think most of us are surprised its gone in this long, but eventually fundemenals are going to over power QE, unless they hyper inflate. But if you look at earnings they are awful and trending downwards. Eventually companies are going to be scrambling for liquidity. It's just a matter of time, January is going to be very interesting.

Tue, 10/02/2012 - 22:57 | 2850724 akak
akak's picture

Back four years ago this month, I NEVER would have thought that the whole Ponzeconomy could possibly drag on this long, yet here we are.

Tue, 10/02/2012 - 23:02 | 2850734 vast-dom
vast-dom's picture

precisely. no one could. and the fact that the ponzi markets are gamed 2x actual value will not bode well over time. no ponzi lasts forever, but many do sure last long time...

Tue, 10/02/2012 - 23:10 | 2850751 TheFourthStooge-ing
TheFourthStooge-ing's picture

No shit. Four years ago I thought everyone would be scavenging for dandelions to eat by 2011.

Tue, 10/02/2012 - 23:28 | 2850786 hannah
hannah's picture

the thing is, it went on so long because every gov participated. there were no 'bond vigilantes' so to speak. the big bond purchasers just joined the game. the whole shit pile will collpase on its own weight not because someone rebelled...

Tue, 10/02/2012 - 22:49 | 2850698 SafelyGraze
SafelyGraze's picture

"During the revolutionary war 70% of people were self-employed. now it's the other way around."


during the self-employed war 70% of the people are revolutionary.

your puzzlers are hard

Wed, 10/03/2012 - 06:25 | 2851148 redd_green
redd_green's picture

Bingo, agreed there.   The 'shock' happened very slowly, over 30 or 40 years.   Since the gold window closed, and the USA industrial base was dismantled.

The frrogs are all sitting there as the water has heated up to boiling point.  No hope now.

Tue, 10/02/2012 - 22:34 | 2850655 Slightly Insane
Slightly Insane's picture

Just wait for the prices to rise (based upon a dilution of value of your local currency) more on food and energy .... all while taxes rise ...

Tue, 10/02/2012 - 22:37 | 2850662 vast-dom
vast-dom's picture

never overestimate rioting of the American sheeple. 

Tue, 10/02/2012 - 23:14 | 2850756 JR
JR's picture

American protests in the street often have been associated with goals of the left: support for a welfare state, et cetera. To surmise, therefore, that average Americans will never take to the streets en masse or push for violent protest is a classic mistake.

For the moment, the militarists in the government fear American protests for the same reason there have been no widespread violent protests against the government. The reason is the Americans have guns. 

 It’s the guns that worry the militarists in the government and it’s the guns that so far keep Americans from the street. Americans know that in the revolution they have more than protest signs, and rocks and epithets to hurl if it is necessary.

Patrick Henry was an orator. He talked against the system. But when the British went for the Armory, his talk turned to action and he led the drive to secure the Armory for the colonists.

As Federal departments crank up the surveillance and the restrictions on liberty, gun sales have gone through the roof!

IOW, it’s infantile to suggest that Americans are different, that they will compromise and surrender at the last moment.

The evidence runs contrary.

“I have only five words for you: From my cold, dead hands.”


Tue, 10/02/2012 - 23:39 | 2850811 hannah
hannah's picture

JR - most of the americans that you speak of are more rural. at least half the urban population are the welfare scum. the remaining half are mostly super obese idiots. very few 'normal' urban types. the riots will be about cutting benefits to the entitled. i dont think the good guys will come out til the fires really start.....and the rural group wont protest in the city. they will probably secede...

Wed, 10/03/2012 - 00:35 | 2850915 JR
JR's picture

The predominance of guns in rural areas traditionally have been there because those areas are adjacent to hunting opportunities.

It is a mistake, however, to down play the presence of guns in urban areas because guns kept for home defense and self protection are more prevalent in urban areas and especially in suburban areas. Once more, guns which are kept with the hope of protecting one's individual liberty are just as likely to be found in urban areas as rural areas.

The liberals, hannah, are not realizing the guns in the hands of law abiding citizens in urban areas. Gun shows in metropolitan areas are attended by large crowds.

Your points are well made. :-)

Wed, 10/03/2012 - 08:53 | 2851379 StandardDeviant
StandardDeviant's picture

In the interests of nudging the level of discourse up just a tad, from now on I intend to automatically junk any post which contains the word "sheeple", no matter how brilliant the surrounding text, or how completely I agree with its content.

Why?  Because it is smug, puerile, arrogant, and needlessly insulting.  It adds nothing to the conversation.

Its only purpose, as far as I can tell, is to allow the poster to feel a warm glow as he sets himself apart from the unenlightened masses, viz., those who have failed to comprehend the Truth (as revealed to our hero on some random conspiracy-theorist blog).

I encourage other ZH readers to do the same.  Maybe a bit of peer pressure will help us do away with this ugly portmanteau.

Tue, 10/02/2012 - 22:41 | 2850674 Surrealist
Surrealist's picture

Gubberments, opposition parties and ultra-rich have successfully socially engineered US citizens to fight amongst themselves.

Tue, 10/02/2012 - 22:18 | 2850600 SafelyGraze
SafelyGraze's picture

message from TPTB: once we've decided that you owe us something, the rest is just details

ps - we've decided you owe us something

Tue, 10/02/2012 - 22:26 | 2850628 Mae Kadoodie
Mae Kadoodie's picture

[Charles Middleton ....  Prosecutor (as Charles B. Middleton)] 
[Chico Marx ....  Chicolini] 
Prosecutor: Something must be done! War would mean a prohibitive increase in our taxes. 
Chicolini: Hey, I got an uncle lives in Taxes. 
Prosecutor: No, I’m talking about taxes - money, dollars! 
Chicolini: Dollars! There’s-a where my uncle lives! Dollars, Taxes! 

Tue, 10/02/2012 - 22:18 | 2850596 Richard Chesler
Richard Chesler's picture

"water bottles thrown at them."

Gasoline bottles are reserved for banksters.

Tue, 10/02/2012 - 22:24 | 2850618 zorba THE GREEK
zorba THE GREEK's picture

And the Greeks have already shown that they know how to make Molitov Cocktails.

Tue, 10/02/2012 - 22:49 | 2850696 Skateboarder
Skateboarder's picture

"And the Greeks have already shown that they are still in the 90s."

Fixed. Who the hell burns really important top-secret shit on a CD and loses it. WTF! I smell bullshit in that CD business.

Wed, 10/03/2012 - 00:26 | 2850899 CompassionateFascist
CompassionateFascist's picture

Yes, the Greeks are revolting.

Wed, 10/03/2012 - 09:20 | 2851460 indio007
indio007's picture

Water bottle projectiles get you this


in Amerika.......

an police dog trying to eat your baby.



Tue, 10/02/2012 - 22:25 | 2850614 SafelyGraze
SafelyGraze's picture

notice the station tag on the 2nd video:


Tue, 10/02/2012 - 22:26 | 2850627 SafelyGraze
SafelyGraze's picture

actually .. shouldn't it be transliterated as "ΦIMA"

Tue, 10/02/2012 - 22:30 | 2850641 nah
nah's picture

they should tax people to fix the great barrier reef to keep everything more or less the same


that will fix everything

Tue, 10/02/2012 - 22:34 | 2850642 Insideher Trading
Insideher Trading's picture

Of course the rich are going to evade taxes and that CD with 2000 names on it is a great way for Greece to lose those 2000 people completely as they emigrate for fear of their lives.

So they can't hide their money is Switzerland anymore so maybe they try it in Singapore, or laundering it through real estate, or maybe something really creative like having their legislative body write in loop holes for them. Buy why wouldn't they, wouldn't you? Consider this:

France's 75% tax on the wealthy. Now think of that and what it means. In one month (30 days) you are working for FREE 22.5 days. In a 30 day time period you are working 22.5 days to pay tax and keep only 7.5 days worth of income for yourself. What the fuck is that? Who the fuck is willing to put up with that bullshit? It's no secret, people don't want to have their money taken from them to fund a profligate and irresponsible government.

The smaller and more reigned in a government the better off everyone is. These big government central planning experiments all end in epic and painful failure, I'm so flummoxed as to why we feel the need to constantly put ourselves through this.

Tue, 10/02/2012 - 22:42 | 2850676 goldfish1
goldfish1's picture

The 1% wealthy don't work for their money.


Wed, 10/03/2012 - 01:50 | 2850980 Non Passaran
Non Passaran's picture

Well then identify the fucking problem and fix it!

Don't try to cure every imaginable problem with new taxes.

Wed, 10/03/2012 - 10:21 | 2851723 MilleniumJane
MilleniumJane's picture

Partial agreement.  Many do nothing productive and many are outright destructive, solely dismantling companies, selling them off piece by piece and sending jobs overseas.  Zero gravity morality in play here.  Small businesses produce much more than most of these shitheads. 

Wed, 10/03/2012 - 04:04 | 2851070 d_taco
d_taco's picture

Do understand the machanism. How much rich do get their money directly by the goverment.

All my friends with an income above 150K Euro earn it direct or indirect from the goverment.

99% of these rich are not able to make a simple living in Pakistan or Angola. Their weilth and earning is directly linked to their (goverment) network.

In capitalism, incomes above 200K will be erased immediately by the market. That is how a matkets work.


Tue, 10/02/2012 - 22:31 | 2850645 topspinslicer
topspinslicer's picture

I gotta start working out .... more walks to the local coin shop

Tue, 10/02/2012 - 22:32 | 2850647 topspinslicer
topspinslicer's picture

More taxes so master obama can double down on wind energy

Tue, 10/02/2012 - 22:38 | 2850665 ziggy59
ziggy59's picture

Wiki wiki wiki...jam on it..

Tue, 10/02/2012 - 22:54 | 2850716 disabledvet
disabledvet's picture

I thought is name was Procrastanus, not Papainconstantinople. Or is it Papaconstitutional? Anywho clearly everyone is going to Confessionus. one is talking.

Tue, 10/02/2012 - 22:57 | 2850725 ebworthen
ebworthen's picture

Time to go back to the home office and sell leveraged subordinable MBS's to the hapless elderly and pension funds.

Send in Blankfein and Dimon with no security gaurds next time you chicken bankers.

Tue, 10/02/2012 - 23:07 | 2850747 otto skorzeny
otto skorzeny's picture

I don't know who I loathe more - bankers or the govt workers that feel they are entitled to everything the slaves in the private sector produce(the US is also full of them-from cops to TSA to firefighters to teachers).

Wed, 10/03/2012 - 02:39 | 2851013 groundedkiwi
groundedkiwi's picture

mmm, banks are the private sector. 

Tue, 10/02/2012 - 23:18 | 2850768 icanhasbailout
icanhasbailout's picture

Only a matter of time before a mob decides it will be satisfied with nothing less than retribution.

Tue, 10/02/2012 - 23:21 | 2850773 New_Meat
New_Meat's picture

"Troika Member"

Is that like an addadicktome for a guy?  Two?

- Ned

Tue, 10/02/2012 - 23:23 | 2850777 Moe Howard
Moe Howard's picture

Coming soon to a banana republic near you!

Tue, 10/02/2012 - 23:53 | 2850835 q99x2
q99x2's picture

Keep all money away from bankers. If they get their hands on it they'll use it to commit crimes. Run those fuckers out of town. Head em up. Move em out.

Tue, 10/02/2012 - 23:58 | 2850851 Schmuck Raker
Schmuck Raker's picture

Just a knee-jerk reaction on my part, but.....

"A list of some 2,000 Greeks with large deposits in a Swiss bank – that had been on a missing CD – was given to the government on Oct. 2 by PASOK leader Evangelos Venizelos, who said he had been given the information while he was finance minister in a former government but didn’t act on it because it was not legally obtained."

.....give that CD to the massed demonstartors. Call it "experimental monetary policy" (and it's all good).

Wed, 10/03/2012 - 01:47 | 2850977 Non Passaran
Non Passaran's picture

What? No Troika bureaucrat was injured?
How unfortunate.

Wed, 10/03/2012 - 04:05 | 2851053 Joe A
Joe A's picture

The Greek should be angry at these 2,000 rich Greek with Swiss bank accounts and at their own politicians. Venizelos and other Pasok and New Democracy politicians are big crooks. He did not act on the CD because it was not obtained legally. Well, so weren't all these assests of the fat rich Greek with their Swiss bank accounts.

Next time dump the garbish on the doorsteps of these politicians and fat Greek crooks.

Wed, 10/03/2012 - 12:24 | 2852117 fajensen
fajensen's picture

 ... The politicians themselves will be on that CD. Next time skip the reward and slap it on the internet straight off!!

Wed, 10/03/2012 - 05:19 | 2851112 The Reich
The Reich's picture

The Greek tax CD will miraculously disappear again. Dead sure!!

Wed, 10/03/2012 - 09:18 | 2851136 el750
el750's picture

The real facts about the Greek state

Some facts: The Greek Gov on a couple occasions a few years ago gave the Tax evaders the right to repatriate their funds from abroad with a 5% penalty and no other fines. Legal money laundering with state seal of approval. (A way out for some of those on the CD as well). So if you were a scammer you had to send your money overseas and just pay a year’s interest and your are clear. Meanwhile if you did not send your money abrMoad you have to pay the 45% personal rate

The others that did not take advantage of this opportunity are most probably ship-owners about 1000 or so that are exempt of all corporate or personal tax that is related to shipping.

At last the other great gov sponsored Laundromat for years has been real-estate: Transactions are recorder at the assessed price which is at least 50% less than the actual sale price for buildings and 1/10th of the actual value of land. Greek islands have been a great place were local and international tax evaders purchase at really low posted prices. For example a land parcel of 1million in Mykonos would register at 100-150k. Off course the Banks joined the party and financed the buyers with additional modification loans that matched the difference between actual and assed /posted price.

The estimated loss from underreporting actual value and size of property (another loophole) perhaps accounts for 100+billion in undeclared income the last 10-15 years.

Other loopholes: Establish a SA company and there was no proof of origin of funds. Etc,

Wed, 10/03/2012 - 07:01 | 2851185 Yperkeimenos
Yperkeimenos's picture

So it's the politicians, tax evading, afterall,what a surprise! Never confuse the People with the Goverment.They are two separate things.The Goverment works for itself and its multibillionaire sponsors while the People are only remmbered of during election time.

Wed, 10/03/2012 - 07:04 | 2851189 falak pema
falak pema's picture

So much for Greek debt liabilites, its counter party assets are all sitting in Swiss private bank accounts.

Its the epitome of first world scallywagging; Private profits and public debt.

In one microcosm non-nation-state of first world we have in a nutshell the debt/profit conundrum on a CD.

That is the cruel, perverse reality of first world finance.

Wed, 10/03/2012 - 07:46 | 2851249 BrigstockBoy
BrigstockBoy's picture

Ouzo Offsets Outrage Over Offensive Overlords

Wed, 10/03/2012 - 07:59 | 2851276 Zero Govt
Zero Govt's picture

The Troika technical team was chased from their Greek offices on Tuesday by an angry mob ...this is the third incident in 24 hours..."

with that and chasing State Police and tax inspectors into the sea i'm kinda liking the Greeks again

if they could liquidate the Greek politicians and bwankers it would be a perfect environment to start a business and grow a real economy again

Wed, 10/03/2012 - 08:17 | 2851301 Quinvarius
Quinvarius's picture

The NOC list is out in the open!

Do NOT follow this link or you will be banned from the site!