Greece could generate budget revenues amounting to 5 percent of national output annually if it reforms tax collection and clamps down on tax cheats, the European Union's tax chief told a Greek newspaper.

Athens plans reforms next year to combat rampant tax evasion as it struggles to shore up public finances and achieve a primary budget surplus, both necessary to continue receiving bailout aid from international lenders.

The euro zone agreed on Thursday to provide nearly 50 billion euros ($64 billion) in long-delayed aid to Greece, averting a catastrophic default and securing its survival in the zone after months of doubt and political turmoil.

Read it all.

Filed under: * Culture-Watch • Law & Legal Issues • * Economics, Politics • Economy • Taxes • Politics in General • * International News & Commentary • Europe • Greece • * Theology • Ethics / Moral Theology

Registered members must log in to comment.