- Illuminist banksters are taking over Europe. By subtlety and deception, they present themselves as saviors. But the history and reality on the ground say otherwise. They are the culprits, the conniving money junkies, the cause of the problems .. the lying snakes. They are making the situation in Greece worse to profit from it.
For Greece a tear, for Brussels a blush!
By Ambrose Evans-Pritchard, http://www.telegraph.co.uk/
Very quickly: some of you will have seen that Greece’s tax revenue from VAT collapsed by 18.7pc in January from a year earlier. Nobody can seriously blame tax evasion for this. It has happened because 60,000 small firms and family businesses have gone bankrupt since the summer.
The VAT rate for food and drink rose from 13pc to 23pc in September to comply with EU-IMF Troika demands. The revenue effect has been overwhelmed by the contraction of the economy. Overall tax receipts fell 7pc year-on-year.
This is a damning indictment of the EU-imposed strategy. Greece is chasing its tail. The budget deficit is stuck near 8pc to 9pc of GDP because the economic base is shrinking so fast. Let me just add that it makes little difference whether or not Lucas Papademos secures triparty agreement today – or soon – for a debt deal.
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