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Greek Deposit Plunge Continues As Tax Inspection Finds Every Business On Zakynthos Broke The Law

Tyler Durden's picture


On one hand we have Mario Draghi promising he has a magic wand (not a printer - remember the keys to that are now held by Angela Merkel who is on vacation) and to "believe him" that the EUR will survive. On the other we have Greece which is a poster child of everything that is wrong in Europe. And that we summarize as follows: i) an epic and now relentless deposit outflow from Greek banks which continues as all trust in the local banking system is now gone, as €7 billion in deposits or the second biggest amount ever, is pulled and 20% of the entire corporate and household deposit base has vaporized in the past year, and ii) an economy in which it is every man for himself and where nobody pays any taxes any more, period. Best of luck in preserving that EUR Super Mario.

Here is the just released move in June deposits in Greece:

And a quick story on which Greece will never be fixed no matter what magic Draghi and Potter concoct between them:

The Financial Crimes Squad (SDOE) on Thursday reported that six in 10 businesses inspected at popular tourist resorts were not issuing sales receipts, and that of the 1,410 checks conducted in July, 57.1 percent found business owners to be in breach of the law.


SDOE officials said that they recorded a total of 22,435 infringements during their sweep, and that their efforts will continue throughout the summer.


In Zakynthos in the Ionian and Rethymno on Crete, every business inspected was breaking the law, while on the islands of Paros and Myconos, 70 percent were avoiding taxes.

No deposits, and no tax revenues: thank you Germany for continuing to fund this slow motion trainwreck thus providing everyone with hours of taxpayer-subsidized entertainment.


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Thu, 07/26/2012 - 15:15 | 2654072 MiguelitoRaton
MiguelitoRaton's picture

Tax Evasion Bitchez!

Thu, 07/26/2012 - 15:17 | 2654090 agent default
agent default's picture

Sounds more like self defense.  Apparently the Greeks have decided to starve the beast.  I think we should be taking notes.

Thu, 07/26/2012 - 15:22 | 2654112 Rubicon
Rubicon's picture

Sitting here on Paros I can confirm that the inspectors have been out in force visiting all taverna's. Ive never seen a Greek move so quickly.

Thu, 07/26/2012 - 15:25 | 2654123 agent default
agent default's picture

Let us know when the owners decide enough is enough and start kicking them out.  Has happened before.

Thu, 07/26/2012 - 15:30 | 2654143 Rubicon
Rubicon's picture

The report is true. Most business owners suddenly started issuing receipts. Generally the Greeks are not happy but equally very apprehensive about losing the Euro. Understable really.

Thu, 07/26/2012 - 15:44 | 2654203 economics9698
economics9698's picture

This will really piss off the old farts on Social Security.  Oh fuck that means America is next.

Thu, 07/26/2012 - 15:45 | 2654209 MiguelitoRaton
MiguelitoRaton's picture

It's a classic bust-out scheme:

Thu, 07/26/2012 - 18:52 | 2654953 TheFourthStooge-ing
TheFourthStooge-ing's picture

Rubicon, thank you for your comments. I value local perspectives because they enhance my understanding of what is really happening and aren't subject to news media filters.

Taraxias is also Greek, and I'm hoping that you will both continue to keep us updated on the situation there. Thanks.

Thu, 07/26/2012 - 15:30 | 2654146 Gief Gold Plox
Gief Gold Plox's picture

No Taxes and you yourself hold what would otherwise be your deposits (read: loan to the bank)?

Sound suspiciously like "financial freedom" to me.

Thu, 07/26/2012 - 15:32 | 2654155 I think I need ...
I think I need to buy a gun's picture

all you can do now is laugh and abandon the system as we know it. I haven't seen one mass hiring in the united states in 4 years where the hell is everyone going? I was just on daily job and saw more mass layoffs today  thats not even being reported in the mass media anymore

Thu, 07/26/2012 - 16:18 | 2654394 zuuuueri
zuuuueri's picture

al capone and his henchmen are touring the streets breaking kneecaps to remind everyone to give him his 23% cut of everyone's business. that's pretty much what it comes down to.

Thu, 07/26/2012 - 17:19 | 2654693 They Tried to S...
They Tried to Steal My Gold's picture

Sit down relax...can I get you another ouzo?


Thu, 07/26/2012 - 15:30 | 2654147 SnakeEye
SnakeEye's picture

Starve the BEAST!!!!!!!

Thu, 07/26/2012 - 15:35 | 2654166 azzhatter
azzhatter's picture

Sounds like the greek people have a good business plan

Thu, 07/26/2012 - 16:10 | 2654339 JLee2027
JLee2027's picture

Self-defense from Tyranny is justified. 

Sounds more like self defense.  Apparently the Greeks have decided to starve the beast.

Thu, 07/26/2012 - 22:20 | 2655409 Buck Johnson
Buck Johnson's picture

Exactly what any society would do when the economy is busted, it goes more black market.  They keep saying that Greece leaving isn't bad but they won't let them leave.  And thats because if they do leave and default trillions of dollars in derivative contracts would have to be settled and these banks don't have the money.  Let alone the money for the hundreds of billions of dollars of debt it was written on.

Thu, 07/26/2012 - 21:49 | 2655353 ForTheWorld
ForTheWorld's picture

When a Greek does it, it's tax evasion, but when an American does it, it's rallying against the government and abiding by the constitution. I get it now.

Thu, 07/26/2012 - 15:16 | 2654079 Joebloinvestor
Joebloinvestor's picture

Greece, the lamprey eel of the EU.

Thu, 07/26/2012 - 15:16 | 2654080 Cangoroo
Cangoroo's picture

I guess it is all in rock solid Sterling accounts. Poor Greeks.

Thu, 07/26/2012 - 15:16 | 2654081 Cangoroo
Cangoroo's picture

I guess it is all in rock solid Sterling accounts. Poor Greeks.

Thu, 07/26/2012 - 15:16 | 2654082 101 years and c...
101 years and counting's picture

kicking greece out qualifies as doing "whatever it takes to save the EUR". 

Thu, 07/26/2012 - 16:09 | 2654332 bank guy in Brussels
bank guy in Brussels's picture

That really might be true, ironically enough, kicking out Greece the turning point of the EU plan

Knowing that Greece leaving the euro might create huge contagion and collapse in the rest of the euro-zone, within days, just like the meltdown on the Thursday after the Lehman bankruptcy Sunday night

To get various politicos and publics (like in Germany) to sign up to bond-buying, money-printing, and a giant multi-trillion redemption fund, EU leaders might need that kind of big collapse, and so they might force the Greek exit to get that collapse

Various ZH articles have said Greece leaving the euro would be '10x Lehman' and so forth ... the Brussels leadership may be taking notes ... could be just what they need to shove through the big EU plan

- - -

To recall a Zero Hedge classic ... The post-Lehman near meltdown of the US and global financial system in 2008 ... from ZeroHedge, 'How The World Almost Came To An End At 2PM On September 18':

« On Thursday (Sept 18), at 11am the Federal Reserve noticed a tremendous draw-down of money market accounts in the U.S., to the tune of $550 billion was being drawn out in the matter of an hour or two. The Treasury opened up its window to help and pumped a $105 billion in the system and quickly realized that they could not stem the tide. We were having an electronic run on the banks. They decided to close the operation, close down the money accounts and announce a guarantee of $250,000 per account so there wouldn't be further panic out there.

If they had not done that, their estimation is that by 2pm that afternoon, $5.5 trillion would have been drawn out of the money market system of the U.S., would have collapsed the entire economy of the U.S., and within 24 hours the world economy would have collapsed. It would have been the end of our economic system and our political system as we know it.

We are no better off today ... »

Thu, 07/26/2012 - 19:40 | 2655070 Unbezahlbar
Unbezahlbar's picture

Moral of this BIB post:

"If you see a line in front of the bank, get in it."


Thu, 07/26/2012 - 22:08 | 2655386 ForTheWorld
ForTheWorld's picture

Seeing as though I've only been reading Zerohedge for a little bit over a year, and I'm not in the finance industry (although the work I do relates to finance), why was there such a draw-down of half a trillion in the first place? I understand Lehman Brothers shat the bed and that was the catalyst, but I'm curious (if you or anyone can shed any light on it).

The comments on that page shed little to no light on the subject however.

Thu, 07/26/2012 - 15:17 | 2654086 Calmyourself
Calmyourself's picture

How on Gods green earth can anyone be stupid enough to leave money in a GREEK BANK??

Thu, 07/26/2012 - 15:21 | 2654104 Haager
Haager's picture

Greeks should ask for credit, take it and run away as fast as possible.

Thu, 07/26/2012 - 15:32 | 2654157 citta vritti
citta vritti's picture

that's what they've done and are doing

Thu, 07/26/2012 - 15:38 | 2654171 zorba THE GREEK
zorba THE GREEK's picture

It does seem strange that anyone in Greece would leave money in a Greek bank.

My guess is those bank deposit numbers are fudged and only a small fraction of

the money is still there. The Greek Gov. probably used their bail-out money to

pay off bank depositors ( Fellow Greeks ) and is covering it up so the Troika doesn't

find out. At least the Greek Gov. cares about their people. 

Thu, 07/26/2012 - 15:53 | 2654254 alien-IQ
alien-IQ's picture

"those bank deposit numbers are fudged and only a small fraction of the money is still there"

Doesn't that sound more than a little bit like our very own fictional reserve banking system?

Thu, 07/26/2012 - 15:41 | 2654189 agent default
agent default's picture

And you think any other bank is any safer?  Because you know there are firewalls in the system, and Germany can bail out the world after all.

Good one.

Thu, 07/26/2012 - 15:50 | 2654237 alien-IQ
alien-IQ's picture

as opposed to MF Global?

Thu, 07/26/2012 - 16:15 | 2654363 JLee2027
JLee2027's picture

Fixed it for you. :)


How on Gods green earth can anyone be stupid enough to leave money in XXXXXX ANY BANK??


Thu, 07/26/2012 - 15:17 | 2654088 transaccountin
transaccountin's picture

the outflow was less than may, good for another 20 es!!

Thu, 07/26/2012 - 15:36 | 2654169 azzhatter
azzhatter's picture

if you slit a pig's throat eventually the bleeding slows down, doesn't mean the pig's gonna live

Thu, 07/26/2012 - 15:58 | 2654277 THX 1178
THX 1178's picture

wee wee wee are goin' down.

Thu, 07/26/2012 - 16:20 | 2654409 Blackfox
Blackfox's picture

System Of A Down  Tentative

Thu, 07/26/2012 - 15:17 | 2654089 yrad
yrad's picture

Sounds like that might be a good idea for Americans.

I can waste my money better than they can.

Thu, 07/26/2012 - 15:47 | 2654224 WTF_247
WTF_247's picture

Americans could stop all these big banks right in their tracks.  Simply having everyone pull out 15% of their total deposits and NOT putting it back into any bank would cause havoc all over the place.  Ask for cash, keep the cash.  I would even go so far as to say that would cause the fed and others to enact capital controls (you can only take out x per day max) to stop us from getting our own money once they saw what was happening.

The only issue is that cannot be done with 401k/IRA type accounts so the banks would still have access to that dough.

Heck, I bet there would be massive issues if most of the population that gets a paycheck under 10k per month simply cashed the payroll check (at the issuing bank) and brought the money home vs leaving it in the bank.  Instead of debit cards pay cash for everything.  With the amount of leverage in the system this simple act would likely cause some huge problems.

Thu, 07/26/2012 - 15:58 | 2654278 wee-weed up
wee-weed up's picture

WTF_247 said:  Instead of debit cards pay cash for everything.

TPTB have a plan for that eventually... all retail pruchases will be required to be made with plastic - THEIR PLASTIC!

Thu, 07/26/2012 - 16:18 | 2654397 JLee2027
JLee2027's picture

Unenforceable I would think. At the least you'd create a thriving black market that only takes cash.

Thu, 07/26/2012 - 16:44 | 2654529 wee-weed up
wee-weed up's picture

Please note I said "retail" purchases. I agree blackmarkets and barter systems will spring up, but retail businesses which allowed cash purchases after the decree would be swiftly shut down by the gubbermint.

Thu, 07/26/2012 - 16:10 | 2654342 rgbensonaz
rgbensonaz's picture

Why can't it be done with your 401k? I cashed out my old 401k/IRA last year and my wife did this year.  I rather pay the 10% tax penalty and blow the money meself unstead of letting Wall Street have it.  We actually bought some rental houses which are a lot better ROI than bonds/equites.

Thu, 07/26/2012 - 16:17 | 2654391 JLee2027
JLee2027's picture

Capitol controls would probably accelerate the problem. 

Of course if they won't let you withdraw your money, then spend it on Gold and Silver. Problem solved.

Thu, 07/26/2012 - 21:58 | 2655377 jerry_theking_lawler
jerry_theking_lawler's picture

Americans have more control of the .gov than we think.


Stop paying your weekly, biweekly, or monthly tribute (income tax deduction directly from your payroll) to the system and see what happens to 'the beast'. it would starve in about 2-3 months.

Thu, 07/26/2012 - 15:18 | 2654092 barliman
barliman's picture


Bailout - pumping money into a hole in the bottom of a sinking ship of state or the bloated carcass of a TBTF.

Google: Einstein, Famous Quotations of


Thu, 07/26/2012 - 15:19 | 2654095 Haager
Haager's picture

I'm pretty sure that those evasions are already priced in... in default.


Thu, 07/26/2012 - 15:20 | 2654099 negative rates
negative rates's picture

Perhaps the law is as much a joke over there, as it is percieved to be here.

Thu, 07/26/2012 - 15:20 | 2654101 TideFighter
TideFighter's picture

Go to Zakynthos, it's 30% cheaper.

Thu, 07/26/2012 - 15:20 | 2654102 nmewn
nmewn's picture

Take the money and run.

Thu, 07/26/2012 - 15:26 | 2654127 BandGap
BandGap's picture

People act like this is something new. It isn't. I think I read something awhile back where only about 11% of all Greeks actually pay taxes. To them, evasion is an art form.

No one thinks it's odd that 90% of all US drivers break the speed limit every time they drive. This is no different, it's just a cultural thing.

Thu, 07/26/2012 - 15:39 | 2654176 nmewn
nmewn's picture


Just got back from vacation...I was very happy to pay for certain things in cash and certain people were very happy to oblige ;-)

Thu, 07/26/2012 - 15:54 | 2654262 WTF_247
WTF_247's picture

Speed limits are set for 2 reasons:  1) safety or perceived safety and 2) generate revenue (hidden tax) for municipalites.

In many areas the speed limits are arbitrary and set low so that they can give out more tickets. Safety is but 1 concern when setting them.  I know that many cities do traffic studies to see how fast traffic is driving and the volume of traffic.  Given the manipulation of the red light traffic cameras, what are the odds that they manipulate speed limits also to place them below the average speed of traffic even if that speed is safe for that area?

I have seen 2 lane roads with a 45 or 50mph limit.. I have seen 4 lane roads with a 35 mph limit in a similar area which is more commercial than the 45mph limit area.  I have seen 5mph near some schools and 20mph near others.

Thu, 07/26/2012 - 21:27 | 2655312 FreedomGuy
FreedomGuy's picture

What percentage of U.S. cops do you think speed routinely? I think we all know the answer to that.

Thu, 07/26/2012 - 18:15 | 2654838 OpenThePodBayDoorHAL
OpenThePodBayDoorHAL's picture

My good mate Evan, Greek heritage, moved there ten years ago, had an architecture firm. I remember him telling me years ago "it's great, nobody pays any taxes!"

Thu, 07/26/2012 - 15:31 | 2654150 Taterboy
Taterboy's picture

"Wait, come back. We have Spiderman beach towels."

Thu, 07/26/2012 - 15:40 | 2654183 nmewn
nmewn's picture


Thu, 07/26/2012 - 15:22 | 2654107 Sofa King
Sofa King's picture


If you all think Americans cling to their guns, you should visit Crete...

Thu, 07/26/2012 - 15:23 | 2654114 Jlmadyson
Jlmadyson's picture

Death chart.

Thu, 07/26/2012 - 15:28 | 2654137 Cangoroo
Cangoroo's picture

Greek banks are bust. Quelle surprise?

Thu, 07/26/2012 - 15:24 | 2654119 Hype Alert
Hype Alert's picture

First out the door, wins.

Thu, 07/26/2012 - 15:25 | 2654121 Ineverslice
Ineverslice's picture

"Cheeburga, cheeburga, run...."

Thu, 07/26/2012 - 15:25 | 2654122 TideFighter
TideFighter's picture


"In Zakynthos in the Ionian and Rethymno on Crete, every business inspected was breaking the law"

I was there in February, 100% seems too low.


Thu, 07/26/2012 - 15:55 | 2654265 Northeaster
Northeaster's picture

I used to go to Zakynthos every weekend when I was stationed on the mainland 20+ years ago, what a fantastic and fun place that is/was, best Summers I've ever had.

Thu, 07/26/2012 - 15:25 | 2654124 alien-IQ
alien-IQ's picture

If the "Law" does not apply to those at the top, then there is good and justifiable reason for those at the bottom to ignore it.

The Greeks have already figured that out. When will Amerikans?

Thu, 07/26/2012 - 15:25 | 2654125 Zola
Zola's picture

Why should the people support through their taxes, these corrupt , thieving , treasonous, A-holes in the greek govt ?

Thu, 07/26/2012 - 15:33 | 2654158 noses
noses's picture

Because their government is just a bunch of average Greeks? Do you really believe the rest of the population was so different (remembering that in 2008 they voted for the party that promised to rob most from the rest of the EU to distribute amog the Greek)?

Thu, 07/26/2012 - 15:33 | 2654160 alien-IQ
alien-IQ's picture

I'm pretty sure that comment could be applied to just about any country. Particularly america.

Thu, 07/26/2012 - 15:25 | 2654128 FreedomGuy
FreedomGuy's picture

Seems to me that the Greek citizens are going into a self preservation mode. I find this wonderfully funny. A near communist country that supposedly believes in the supremacy of big centrally planned income redistributing government is going to individualist self preservation. Where is that trusting believing collectivist instinct when you need it? Everyone should be overpaying their taxes to help out.

Socialists are all despicable thieves and liars with an occasional fool thrown in.

Thu, 07/26/2012 - 15:29 | 2654138 alien-IQ
alien-IQ's picture

Yeah...because amerika is so fuckin up and up with their shit right?

epic hypocrisy.

Thu, 07/26/2012 - 21:36 | 2655331 FreedomGuy
FreedomGuy's picture

Actually, America is in the process of becoming Amerika. It takes less time to fool the peasants of Russia and Bolivia into this stuff. It takes longer through government run schools and press corps to fool Americans. Just be sure no one studies history, thinks all the rich stole their money and that government with all it's "good" people will save them from private individuals where all the "bad" people live and steal money.

We can watch the Greeks as a preview of our own destiny. But, hey, us Americans are wayyy smarter and we can manage this collectivist stuff way better than stupid Europeans and South Americans...and Asians...and Russians...and Cubans...and anyone else who has ever tried it. You will see. Obama just created the best most efficient healthcare delivery system ever devised that will put you Europeans to shame.

Thu, 07/26/2012 - 15:26 | 2654130 NEOSERF
NEOSERF's picture

Sounds like most of the islands have already gone back to the drachma...probably giving discounts for $ and yen...

Thu, 07/26/2012 - 15:27 | 2654135 apberusdisvet
apberusdisvet's picture

The Rule of Unintended Consequences or..........

If you keep on coming here to anal rape me, I will refuse to continue to pay for your round trip bus fare to do so.

Thu, 07/26/2012 - 15:30 | 2654144 noses
noses's picture

So what exactly did Germany do to turn 60% of the Greeks into antisocial criminals who won't even pay their share to make up for all the money they stole by lying through their teeths for years?

Thu, 07/26/2012 - 15:43 | 2654168 Miles Kendig
Miles Kendig's picture

What did Germany do?

Filled out the paperwork on all those no income, no job, no asset, no verification loans to keep exports running.  In this there isn't any difference between DB and JPM, except JPM does sport a Tier 1 > 2% unlike DB.

Thu, 07/26/2012 - 15:30 | 2654145 Dr. Engali
Dr. Engali's picture

I'm surprised there is  money left in any Greek bank. What in the heck can those depositors be thinking?

Thu, 07/26/2012 - 15:30 | 2654151 Miles Kendig
Miles Kendig's picture

Those core European banks must really be in a hurt for deposits

Thu, 07/26/2012 - 15:31 | 2654154 Jlmadyson
Jlmadyson's picture

Reuters: US earnings now seen falling in third quarter, first time in three years.

Better get in that ole coordinated action central bankers and quick.

Thu, 07/26/2012 - 15:32 | 2654156 azzhatter
azzhatter's picture

Draghi seems like a trustable little weasel

Thu, 07/26/2012 - 15:38 | 2654174 Cangoroo
Cangoroo's picture

No he is not trustable. Never trust an investment banker who is trustable. So in some respect he is.

Thu, 07/26/2012 - 15:39 | 2654181 youngman
youngman's picture

voting with their reciepts......yes its self preservation....and they are trying to save this...and they loaned money to these thieves.....boy there are some BAD decisions..

Thu, 07/26/2012 - 15:41 | 2654191 ebworthen
ebworthen's picture

When you are repeatedly mugged you tend to not go walking in alleys with wads of cash.

Thu, 07/26/2012 - 15:45 | 2654212 elwu
elwu's picture

"No deposits, and no tax revenues: thank you Germany."

It is Germany's fault that the Greeks don't pay taxes and do a bank jog? Hm, what next, maybe Germany is also responsible for the Aurora shootings. Waddaya think?

Thu, 07/26/2012 - 15:53 | 2654252 Cangoroo
Cangoroo's picture

It is a well known collusion of interests. One party provides loans and the other party spends it for a great springbreak event. And there is a third party - the taxpayer to clean up the mess.

Thu, 07/26/2012 - 16:18 | 2654395 bank guy in Brussels
bank guy in Brussels's picture

Indeed, an article ties Aurora USA mass murder shootings to the banking cartel - as you suggested - from an offbeat wild Irish website -

Colorado red-haired accused shooter James Holmes, is said to have a father Robert Holmes, described as an expert on banking fraud, and as a top man at the US bank credit score company FICO, and also said to have been scheduled to testify before the US Senate about LIBOR fraud etc. before the tragedy ...

And there once again seems to be other helpers besides the named supposed 'lone gunman'

FYI this is a 'conspiracy site' bashed by Tyler himself ... they had run the story that Strauss-Kahn was arrested on the fake rape charge after allegedly discovering there was no gold in the NY Fed basement ...

But interesting reading:

Thu, 07/26/2012 - 16:23 | 2654429 elwu
elwu's picture

Thanks for the pointer!

Thu, 07/26/2012 - 15:51 | 2654244 BandGap
BandGap's picture

Sort of a related question - how much barter business is being done here in the states, or elsewhere for that matter? I know I have been "cutting deals" without paying taxes to buy stuff and to get things fixed. And I wonder just how much money you actually would need if you had something to trade.

Thu, 07/26/2012 - 15:58 | 2654272 sudzee
sudzee's picture

Thank goodness for direct deposit of public sector wages or total deposits At the banks would be zero.

Thu, 07/26/2012 - 16:04 | 2654302 debtor of last ...
debtor of last resort's picture

I believe the Financial Crimes Squad is needed elsewhere?

Thu, 07/26/2012 - 16:04 | 2654305 sitenine
sitenine's picture

The law? LOL, good one.

Thu, 07/26/2012 - 16:11 | 2654334 mark7
mark7's picture

Honest Greeks actually pay taxes twice. One for bribes for various permits and whatever and one for actual taxes. Brown envelopes are still used to speed up things. Without those envelopes your application goes to the bottom of the heap and probably stays there years to come.

It is very similar to countries like Thailand or Malaysia. So it is no wonder many Greeks do not want to pay taxes. One rich Greek said it best, would like to pay taxes to Al Capone?

Thu, 07/26/2012 - 16:10 | 2654341 Jack Sheet
Jack Sheet's picture

The loss of deposits from the Greek banks is no big deal. Any funds transferred to other EUR zone banks get deposited at the ECB which lends them back to GR at zero interest. The EUR zone banks don't need the
Greek money, that is why it ends up at the ECB.
....not my shit, David Einhorn wrote that yesterday in the investment letter published on ZH.,

Oh, and the operative word in the sentence about the SDOE officials is "recorded". That is all they will do, the records will end up in the Greek finance ministry as in the famous photo where the floor is littered wall-to-wall and waist high in spilled files.

Thu, 07/26/2012 - 16:16 | 2654389 Vidar
Vidar's picture

The best thing the American people could do would be to follow the Greek example.


Stop paying taxes and pull your money out of the banks.


This is the simplest and best plan for revolution and a return to liberty.

Thu, 07/26/2012 - 17:39 | 2654763 the tower
the tower's picture

Standing ovation.

Americans talk about not paying taxes all the time on ZH, but when Greeks ACTUALLY live the American Dream they are "taxavoiders".

I hate hypocrisy.

Thu, 07/26/2012 - 19:12 | 2655003 TheFourthStooge-ing
TheFourthStooge-ing's picture

When national governments have degenerated to the point that they exist only to serve the interests of global finance, tax evasion becomes one of the most sincere forms of patriotism.

Thu, 07/26/2012 - 16:36 | 2654500 bankruptcylawyer
bankruptcylawyer's picture


Thu, 07/26/2012 - 16:59 | 2654632 CuriousPasserby
CuriousPasserby's picture

But if 20% is gone from the banks, then 80% is left, no? Fools!

Thu, 07/26/2012 - 17:27 | 2654721 silverserfer
silverserfer's picture

I have video proof of Mario's plan to steal all the gold from Greece. Its a bloodbath! 

Thu, 07/26/2012 - 18:03 | 2654816 SmittyinLA
SmittyinLA's picture

If they reported all their income that might effect their benefits stream, they're like most of the Latinos in LA, on the dole and off the books. 

Thu, 07/26/2012 - 19:37 | 2654895 SqueekyFromm
SqueekyFromm's picture

OK, sooo this deserves a really good poem, sooo here is one based on Keat's Ode On A Grecian Urn that I worked very hard on: 


Ode On A Grecian Earn

(A Paean To The Greek Scofflaws)

by Squeeky Fromm



Skulking Tax-Collector, thinkest thou canst hide

Midst fat Hausfraus knobby knee'd in sandals???

Then ask receipts thereof in manner snide. . .

Hawaiian shirt hides NOT  thy Inner Vandal!!! 


Taxes paid may wafteth aromatic, 

Softly leading off to gentle slumber

Far, far better than chamomile toddy.


Yet we are Legion, and midst our number

None feareth thy efforts bureaucratic.

You'll getteth our Gelt o'er our dead body!!!



Squeeky Fromm, Girl Reporter

Thu, 07/26/2012 - 19:18 | 2655017 Kreditanstalt
Kreditanstalt's picture

Now if only businesses in North America could do the same!  THAT would be freedom...

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