Posted on 10/06/2013 6:55:59 PM PDT by dynachrome
The Labor and Social Insurance Ministry is seriously considering drastic measures in order to obtain the social security contributions owed by enterprises and to avoid having to slash pensions and benefits.
The ministry is planning to force companies to pay up or face having their assets seized, so that the 14 billion euros of contributions due can be recouped.
While this amount – equal to 8 percent of the country’s gross domestic product – may be easy to calculate on paper, it is virtually impossible to collect even if the state attempts to confiscate all the real estate properties of debtors and the debts of third parties to them.
(Excerpt) Read more at ekathimerini.com ...
I will happen here too. We are just farther behind on the curve.
They never run out of other peoples’ money.
wow
The Greeks are apparently quickly running out of OPM.
Note that this is to shore up their Social Security program
Greece could seize all corporate assets and still run out of money in 6 months.
Yup. They will take everything you have so that “The People in the Wagon” can eat for a few more days.
Coming soon to a theater near you.
So, it's not exactly "confiscation" the way some might think.
I have been to Greece several times since the 80’s. I swear 1 of 4 people are on US SS or Disability.
I know a couple, who both worked for the DMV here, who claimed they went blind by getting bathroom chemicals splashed in their eyes from cleaning the heads in the DMV.
They had a Greek doctor, Greek lawyers, etc. They BOTH won the case (you can’t bring up the other relative, as it is non-relative). They told me back in 1986 they were receiving 2k a month in disability, plus they got early retirement from the DMV.
2k a month back then was HUGE. You could buy a house in Kato Patisia for 25k. I mean a NICE house.
They had their checks sent to them right to their mailbox in Greece.
So many people bragged that they were on the American dole. I was flabbergasted.
In a couple of years, if you have any money in electronic form, they will take it. The only money that will survive is physical cash that you have in your hands.
“The only money that will survive is physical cash that you have in your hands.” In your cold, dead, hand!
Notice that the Ministry is forced to resort to force...BUT the Ministry bears no culpability for the very poor state of social security funds which it manages.
Socialist government: Utterly incompetent at managing its own business, but always willing to punish the innocent with excessive force for its own wrongdoings.
In such a situation that surviving cash-in-hand will likely be worth just a hair more than nothing and or will have extensions to accommodate the zeroes.
I bed some business owners would rather burn their assets rather then surrender them to the gov’t.
That trick only works once.
Greece! “The cradle of Western thought”. Opa! Opa! Opa!
All taxes are confiscation.
You bed some business owners? Shame on you!
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