Recent headlines from the German newspaper “Bild” have started a new propagandistic campaign against Greece. The newspaper claims that the Greeks have a lot more money than the German people and should pay wealth tax to recover from the crisis.
“We got used to it. For years the Germans have to pay for the bankrupt Greeks. The excuse is that apparently Greeks cannot help themselves. However, the truth seems to be different. Actually, Greeks have a lot more money than us.” the article states, noting that while a German household has an average income of 51,4000 euros, a Greek household has an income of 101,900 euros.
The article, commenting on the Germany’s Bundesbank proposal that countries about to go bankrupt should impose their citizens a one-off capital levy before asking other states for help, said that “wealthy Greeks should be paying for their own debts.”
As reported in Bundesbank’s monthly report, “A capital levy corresponds to the principle of national responsibility, according to which tax payers are responsible for their government’s obligations before solidarity of other states is required.”
Bundesbank’s warned that the implementation of a capital levy would not be easy, noting that it should only be considered in exceptional cases, for example to avoid a threatening sovereign insolvency.