Tag Archives: Greece

Greeks Told To Declare Cash “Under The Mattress”, Jewelry And Precious Stones

When earlier today we read a report in the Greek Enikonomia, according to which Greek taxpayers would be forced to declare all cash “under the mattress” (including inside) or boxes that contain more than 15,000 euros as well as jewelry and precious stones (including gold) worth over 30,000 euros, starting in 2016, we assumed this has to be some early April fools joke or a mistake.

After all, this would be merely the first step toward full-blown asset confiscation, conducted so many times by insolvent governments throughout history, once the government cracks down on those who made a “mistake” in their asset declaration form or simply refuse to fill such a declaration, thereby making all their assets eligible for government confiscation.

It was not a joke.

Here is the take of Keep Talking Greece, whose stunned response mirrors ours.

Cash “under the mattress” totaling more than 15,000 euro, jewelry and other valuable items such as diamonds and gemstones, should be declared to electronic system of tax authorities, Taxisnet, as of 1 January 2016. Next to properties and vehicles and shares, now the taxpayers will also have to declare their deposits. And not only that. They will have to fill if they rent bank lockers and if yes, also the name of the bank and the branch, even if abroad.

A joint ministerial decision issued by the Ministries of Justice and Finance indicates that taxpayers in Greece should add all their valuables into a new category of the tax declaration, the “Assets declaration.”

Specifically, the decision provides that:

    “Assets declarations” are submitted electronically and mandatory via Taxisnet.
      Starting date for the submission is 1.1.2016

Declared must be cash money if more than 15,000 euro and precious items if their total value exceeds 30,000 euro. These amounts apply cumulatively per household (husband, wife, underage children).

To facilitate the completion of the declaration, data from the income statements (E1 and E9) will be drawn automatically.

Note that this Assets declaration process will initially apply to lawmakers, journalists, public servants etc and is the rehearsal for the creation of the electronic property & assets register that will be extended to all taxpayers.

The new assets declaration form has a total of 56 pages.

The decision has been taken “in the context of support and development of the economy,” the ministers state.

Some thoughts

First of all, the ministerial decision will certainly support and help to growth the noble profession of accountants.

How can a bride know the value of the jewelry her parents-in-law gave as a wedding gift?

If the retail price of X valuable item was 10,000 euro in 2005, what is the value today?

And what will happen if one will not declare his assets? The tax authorities will raid the home and search under the mattress to find grandma’s ring?

Are you kidding me, Greek Syriza state?

PS we should note that this assets declaration was in plan before SYRIZA came into power. Not sure about what minister promoted this, I vaguely reckon it was form New Democracy. Or most likely it was a Troika’s idea in order to grab the so-called ‘black money’ that starts with 15,001 euro in cash and diamonds worth 30,001 euro.


“Your records show I purchased what and when?

See, here, officer.  This is a copy of the newspaper advertisement for the yard sale I had where I sold those guns, jewels, and coins for cash that I spent on taxes and health insurance premiums.  You know how it is?  Here is the tax receipt.

Sorry, sir.  Nice armored car!  Stay safe during all these confiscations. 

Have a nice day!”

Source: ZeroHedge

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There’s A New Berlin Wall And It’s Called The Euro €

Transcript:

Thank you. What we’re seeing in this chamber this morning and indeed across the whole of Europe is an irreconcilable cultural difference between Greece and Germany. A split between the North and the South of Europe. The European project is actually beginning to die. Nobody in this room will recognize that the peoples of Europe are saying, we were never asked whether we want in this. This has been foisted upon on us and we need to understand why the EMU doesn’t work. Those monsters Kohl and Mitterrand, backed up by the clever but dangerous Delors believed that if they put in place an economic and monetary union then as night follows day, there would be political union and there would be an acceptance of this project and the North and South of Europe would converge. That we would all start to love each other and we would all start to feel a European identity, that we would all start to show allegiance to the flag and the anthem.

Those, of course, that criticized this were told we were extremists and we lacked vision. Well one vision we didn’t lack is we understood the countries of Europe are different and if you try to force together different people and different economies without first seeking the consent of those people it is unlikely to work and the plan has failed. This isn’t just Greece we’re talking about today, the whole of the Med now finds itself in the wrong currency and yet virtually nobody in the political arena has the courage to stand up and say that. Indeed, I feel that the continent is now divided from North to South, there is a new Berlin wall and it is called the euro. The old enmities have been resumed. Just listen to the way the German leader of the CDU group this morning attacked Mr Tsipras. He was actually disgusting but it shows the way North and South feel about each other.

Mr Tsipras, your country should never have joined the euro, I think you acknowledge that. But the big banks, big business and big politics forced you in. Goldman Sachs, the German arms manufacturers, they were all very happy when the bailouts began. They weren’t for the Greek people, those bailouts were for French, German and Italian banks. They haven’t helped you at all. These years of austerity, years of high employment and increasing poverty, none of it’s worked. In fact, your debt GDP ratio has gone from 100 percent at the start of the crisis to 180 percent right now. It would be madness sir, to continue on this course.

You have been very brave. You called that referendum. When one of your predecessors tried to do the same the bully boys in Brussels had him removed. They tried their best again, Mr Juncker said you would have to leave the Euro and leave the EU. Even Mr Schulz, the president of the parliament, who one would have thought might have been neutral, said that if the Greeks voted no then power supplies might even go down. There were threats and bullying but the Greeks stood firm. But sir, you cannot have your cake and eat it. They will give you no more these people. They cannot afford to, if they give you more they have to give other Eurozone members more.

So your moment has come, and frankly if you have the courage you should lead the Greek people out of the Eurozone with your head held high. Get back your democracy; get back control of your country. Give your people the leadership and the hope that they crave. Yes it will be tough in the first few months but with a devalued currency and with friends of Greece all over the world, you will recover.

Published on Jul 8, 2015

http://www.ukipmeps.org | http://www.ukip.org/join
• European Parliament, Strasbourg, 08 July 2015

• Nigel Farage MEP, Leader of the UK Independence Party (UKIP), Co-President of the Europe of Freedom and Direct Democracy (EFDD) Group in the European Parliament – http://www.nigelfaragemep.co.uk @Nigel_Farage

• Debate: Conclusions of the European Council (25-26 June 2015) and of the Euro Summit (7 July 2015) and the current situation in Greece
European Council and Commission statements
[2015/2719(RSP)]
In the presence of Mr Donald Tusk, President of the European Council

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• Video: EbS (European Parliament)
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• EU Member States:
Austria, Belgium, Bulgaria, Croatia, Cyprus, Czech Republic, Germany, Denmark, Estonia, Spain, Finland, France, Greece, Hungary, Ireland, Italy, Latvia, Lithuania, Luxembourg, Malta, Netherlands, Poland, Portugal, Romania, Slovakia, Slovenia, Sweden, United Kingdom

“Heartbreaking” Scene Unfolds At Greek Banks As Pensioners Clamor For Cash

Summary:

  • This is the future of all western pensioners
  • If you don’t hold it, you don’t own it

 “Heartbreaking” Scene Unfolds At Greek Banks As Pensioners Clamor For Cash

1,000 Greek bank branches chanced a stampede in order to open their doors to the country’s retirees on Wednesday.

The scene was somewhat chaotic as pensioners formed long lines and the country’s elderly attempted to squeeze through the doors in order to access pension payments.

As Bloomberg reports, payouts were rationed and disbursals were limited according to last name. (( Greek Pension Rationing Begins ))

It’s a day of fresh indignities for the people of Greece.

About a third of the nation’s depleted banks cracked open their doors after being closed for three days. But all they did was ration pension payments, hours after the country became the first advanced economy to miss a payment to the International Monetary Fund and its bailout program expired.

On the third day of capital controls, a few dozen pensioners lined up by 7 a.m. at a central Athens branch of the National Bank of Greece, an hour before opening time. They were to receive a maximum of 120 euros ($133), compared with the average monthly payment of about 600 euros. Many left with nothing after the manager said only those with last names starting with the letters A through K would get paid.

“Not only will I have to queue for hours at the bank in the hope of getting 120 euros, but I’ll have a two-hour round trip,” said Dimitris Danaos, 77, a retired local government worker who was making the bus journey from his home outside the Greek capital to the suburb of Glyfada. 

AFP has more color:

In chaotic scenes, thousands of angry elderly Greeks on Wednesday besieged the nation’s crisis-hit banks, which have reopened to allow them to withdraw vital cash from their state pensions.

“Let them go to hell!” said one pensioner waiting to get his money, after failed talks between Athens and international creditors sparked a week-long banking shutdown.

The Greek government, which closed the banks and imposed strict capital controls after cash machines ran dry, has temporarily reopened almost 1,000 branches to allow pensioners without cards to withdraw 120 euros ($133) to last the rest of the week.

The move has again sparked lengthy queues at banks across Greece — and outrage from many retirees who are regarded as among the most vulnerable in society, exposed to a vicious and lengthy economic downturn.

Under banking restrictions imposed all week, ordinary Greeks can withdraw up to 60 euros a day for each credit or debit card — but many of the elderly population do not have cards.

Another customer, a retired mariner who asked not to be named, told AFP he had no cash to buy crucial medicine for his sick wife.

“I worked for 50 years on the sea and now I am the beggar for 120 euros,” he said.

“I took out 120 euros — but I have no money for medication for my wife, who had an operation and is ill,” he added.

As we outlined in detail earlier this morning, the latest polls show a slim majority of Greeks plan to vote “no” in the upcoming referendum (which, as far as we know, will still go on). Many analysts and commentators say a “oxi” vote would likely lead to a euro exit and with it, far more pain for the country’s retirees.

Indeed, as we noted on Tuesday in “For Greeks, The Nightmare Is Just Beginning: Here Come The Depositor Haircuts,” Goldman has suggested that only once Syriza’s “core constituency of pensioners and public sector employees” sees the cash reserves (to which they have heretofore enjoyed first claim on) run dry, will they “face the direct implications of the liquidity squeeze the political impasse between Greece and its creditors has created. And only then will the alignment of domestic political interests within Greece change to allow a way forward.”

And so, as sad as it is, the scene that unfolded today in front of the roughly one-third of Greek bank branches which opened their doors to pensioners, may have been preordained by the powers that be in Brussels because as we said yesterday evening, breaking Syriza’s voter base may have been necessary in order for the Troika to finally force Tsipras to relent or else risk being driven from office, after capital controls and depositor haircuts force public sector employees to collectively cry “Uncle”, beg Europe to take it back, and present Merkel with Tsipras and Varoufakis’ heads on a proverbial (and metaphorical, we hope) silver platter.