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Were Papandreau and his cabinet not totally in the grip of Athens Syndrome, (move over, Stockholm Syndrome), they should counter-offer the right to the ECB to collect the last 10 years worth of avoided taxes on high net worth Greeks, especially those with assets abroad or on the high seas. The cabinet could pledge full cooperation in identifying these individuals and the ECB would have the choice of seizing part or all of the expatriated assets or taking the tax due on imputed incomes. While that might be a slight push on the laws involving tax collection, it would pale in comparison to the actions now proposed.

Going after those avoided taxes first would allow those who are significantly responsible for the revenue shortfall to do their part in helping Greece in its time of need. Were the Troika to demur, they should default, institute their own currency, etc. -- IMMEDIATELY!

As the Dutch said while fighting the Spanish: "It is not necessary to have hope in order to persevere."

by ARGeezer (ARGeezer a in a circle eurotrib daught com) on Mon Jun 13th, 2011 at 03:38:27 PM EST
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