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Greek parliament passes new property tax bill

Mon Sep 26, 2011 5:55 AM EDT
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Associated Press
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<p>Metro lines are empty outside a depot during a 24-hour strike in Athens, Thursday, Sept. 22, 2011. Austerity-weary Greeks lashed out against more tax hikes and pension cuts with a new round of strikes, with public transport workers, taxi drivers and teachers walking off the job Thursday. (AP Photo/Thanassis Stavrakis)</p>

Metro lines are empty outside a depot during a 24-hour strike in Athens, Thursday, Sept. 22, 2011. Austerity-weary Greeks lashed out against more tax hikes and pension cuts with a new round of strikes, with public transport workers, taxi drivers and teachers walking off the job Thursday. (AP Photo/Thanassis Stavrakis)

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ATHENS — Greek lawmakers have passed a controversial new property tax bill that aims to boost revenue as the country struggles to meet its fiscal targets and gain approval for a critical installment of bailout loans that will prevent it from default.

A majority of deputies in the 300-seat Parliament voted in favor of the bill late Tuesday.

The new property tax was announced earlier this month, after the country's international debt inspectors suspended their review of Greek reforms amid talk of missed targets and delayed implementation. The inspectors are expected to return to Athens this week

Greeks have been angered with the extra property tax, which will be paid through electricity bills to make it easier for the state to collect. Those who refuse to pay risk having their power cut off.

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Bill-Weeks

I do not support devoting more German support to bailing out Greece. Greece has shown a consistent inability to exercise fiscal discipline in their actions and policies. There is every reason to believe, once bailed out, Greece will continue to make poor fiscal choices. If Greece can't exercise fiscal discipline they need to live with consequences of their bad choices. Only then is there any hope of Greece growing up. Germans should not throw good money after bad.

    Reply#1 - Mon Sep 26, 2011 11:21 AM EDT
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