Greece: how austerity, and forced surplus-chasing, risk wrecking a 'recovery'
Greece has had the highest increase in tax revenue of any of the 35 OECD countries in the last 12 months. Its revenue grew from 36.4 per cent to 38.6 per cent of GDP. The average across the 35 (which of course includes Greece) was just 0.3 per cent. Although much of Greece's media describes this as a ‘tax hike’, the OECD statistical model does take into account not only the amount of tax charged, but also the amount successfully collected, and so the picture need not be as ne