Greeks 'Should Withdraw Deposits from Foreign Banks' - Minister
Greek Development Minister Nikos Dendias has called on citizens to withdraw their assets from foreign banks and return them the country.
By accepting the offer, they will be exempted from a fine for tax evasion, Bulgarian National Radio (BNR) Thessaloniki correspondent Katya Peeva quoted Dendias as saying.
Greece saw huge-scale capital flight as the debt crisis sparked in the country six years ago, with businessmen and lawmakers putting billions of EUR into financial companies outside Greece.
Previous estimates suggested up to EUR 28 B might have left the country in a few years' time, but the possible amount swelled to EUR 30-60 B, or up to 1/4 the size of the Greek economy in 2008, before the crisis slashed it by nearly a third.
Athens is now reportedly preparing amendments to a law envisaging tough sanctions for tax evaders, with changes drafted to lure the money back to the country.
- » Unrefunded VAT to Bulgarian Companies at BGN 113.6 M by end-May
- » Moody’s Downgrades DSK and Raiffeisen Banks
- » ECB 'to Extend Backstop to Bulgaria' over Greece Crisis
- » Bulgarian Development Bank to Get EUR 150 M for Energy Retrofitting of Homes
- » Deposits in Bulgarian Banks Increased to Record Level in Past Year
- » WSJ: International Investors in Bulgaria’s KTB Demand Their Money Back