We’ve all read about the Greek financial debacle by now. The country’s debt was 120% of the country’s GDP. The previous government lied about the seriousness of the problem, using Enron style accounting to make things look better than they were. Apparently, the government was not they only one lying.
According to The New York Times, Greek tax investigators started cracking down on tax cheats. Without leaving their offices, the investigators, using satellite photos, were able to count 16,974 swimming pools in the wealthy Athenian suburbs. That number was somewhat shocking since only 324 pools were claimed on tax forms.
The NYT article details the widespread culture of Greek tax fraud, from the routine to the brazen.
Now we know why Angela Merkel was so opposed in bailing Greece out.