Greek deputy PM says he would have to sell property to pay tax

GREECE has “exhausted” its ability to pay more taxes to cover budget gaps, its deputy prime minister declared yesterday, adding that even he cannot pay a new emergency tax without selling property.

Theodoros Pangalos spoke as the debt-shackled nation faced fresh strikes and braced for another inspection by international creditors, starting today, to decide whether to continue vital bailout loan pay-outs.

Yesterday, parliament approved a new emergency property tax to be added to electricity bills later this year, as Greece remains under strong international pressure to abide by its painful deficit-cutting targets. The country will go bankrupt by mid-October if it does not get an expected €8 billion loan.