Bank of Greece (BoG) governor, Yannis Stournaras, on Tuesday requested a review of all tax exemptions by the political leadership of the finance ministry, adding that “the country needs revenue,” ANA reports.
Stournaras was speaking at a conference organized by the ‘Kyklos Ideon’ think tank.
He also argued that the revenues expected to be collected by the State from the sale of the shares held by the Financial Stability Fund, even though they are small compared to those allocated for their rescue, are not small taking into account the benefits it has received from the PSI as well as high dividends allocated by the Bank of Greece, which chiefly come from the ELA (including the liquidity it granted to the banks).
He reiterated that the black economy in Greece surpasses 40 billion euros, stressing the need to re-examine the social usefulness of existing tax exemptions and whether they concern the truly vulnerable.
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