Press Review December 10

Taxman’s long arm reaches into deposit accounts

From December 12th the Ministry of Finance will be able to extend its digital hand into bank accounts – after first scrutinizing details of taxpayers’ confidential banking information. The express seizures from bank accounts will be completed by auditors of the General Secretariat of Public Revenue within 10 days of banks receiving electronic seizure orders, while they will be able to obtain the banking profile of any taxpayer within 24hrs in order to ascertain from which bank account to seize funds. All public financial auditing authorities and services will be able to access the new electronic register of banking information using only the tax numbers of auditees. Many small depositors are worried over ‘blind’ bloodletting.

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€400 mln for Asteras Resort

–  €320 mln to National Bank of Greece and  €80 mln for Privatization Fund

The investment company Jermyn Street Real Estate Fund IV LP which is controlled by the arab controlled AGC Equity Partners and in which the Turkish group Dogus has a 15% stake emerged as the successful bidder in the sale of Asteras Resort in Vouliagmeni. The offered price for 90% of shares in Asteras came to  €400 mln of which  €320 mln will go to the National Bank of Greece and  €80 mln will go to the Privatization Fund. In accordance with the law the chosen investor will submit a public proposal for the acquisition of the remaining 10%.

Background:
‘Asteras’ refers to a hotel resort on a wooded peninsula on the south coast of Athens in the area of Vouliagmeni, (one of the richest in Athens). One of the oldest and most famous luxury hotels in Athens, the hotels and the surrounding grounds (which include a private beach) are for sale. It is considered one of the most valuable pieces of real-estate in Greece.

Freezing Temperatures and Hypocrisy

Easy words for public consumption, bureaucratic chaos and attempts to transfer blame from the government over the vulnerable members of society now struggling heating their homes due to their inability to pay their bills to the PPC (Public Power Company). Mayors react over the ‘hot potato’ thrown to them by the government as they are called to deal with a wave of freezing temperatures without funds, infrastructure and equipment, as well as deal with the phenomenon of daily ‘accidents’ resulting in burnt houses [as residents attempt to keep warm with unsafe means].