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Thursday, May 13, 2010
May 13, 2010 — With Greeces coffers deep in the red, its government is on the hunt for new sources of income. Now Athens has embarked on an ambitious program to find tax evaders. Greek tax investigators are poring through aerial photos on the Internet, searching for luxurious villas with large swimming pools.Many of these villas were built with untaxed income. And the tax authorities are increasingly hearing that wealthy Greeks are moving their money abroad. Turkey is a popular destination because Turkish banks have a reputation for stability. But even ordinary Greek wage-earners are affected by the new governments new tax-collecting zeal, and will now be asked to obtain receipts even for small purchases.
Labels:economy Collapse Meltdown Greece Crisis
May 13 (Bloomberg) -- Mohamed El-Erian, chief executive officer and co-chief investment officer of Pacific Investment Management Co., talks with Bloomberg's Tom Keene about the sovereign debt crisis in Europe and the prospects for the euro. (Source: Bloomberg)
Labels:economy Collapse Meltdown Mohamed El-Erian
May 13 (Bloomberg) -- Celebrations in Montreal turned violent as looters smashed shop windows and stole liquor after the Canadiens defeated the Pittsburgh Penguins 5-2 last night in the decisive Game 7 of their National Hockey League Eastern Conference semifinal series. Bloomberg's Carol Massar reports. (Source: Bloomberg)
Labels:economy Collapse Meltdown Riots