Greece’s oligarchs prepare to make a pretty penny

This article in the FT describes how Mr Papandreou has been trying to crack down on Greece’s tax evaders, and how he revealed a fuel smuggling operation that is costing his country €3bn a year.

Meanwhile the country’s oligarchs are:

  • denigrating him in the media outlets that they own
  • exporting cash (for example into the London property market)
  • waiting to buy up the assets that the Greek government will now have to sell, cheaply

Like the American super-rich, it seems that Greek oligarchs rarely pay their taxes.

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