Tag Archives: cash

A film-like robbery of a cash transporting van at gunpoint and a loot of over one million euros in cash took place in Lavrio, in southeastern Attica on Thursday. According to initial media reports, four robbers armed with Kalashnikov rifles, wearing white overalls and surgical masks held the two-men crew …

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Tax authorities in Greece will scrutinize real estate purchases that were conducted in cash. Aim of the tax authorities is to trace and sources of money used for the transactions and possibly trace money laundering. The Independent Authority for Public Revenue (AADE) is tracing the money trail for thousands of …

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The European Union on Tuesday proposed making it harder for states to pour billions of euros of aid into an ailing bank, as Italy did with Monte dei Paschi di Siena six years ago. Proposals from the EU’s executive seek to ensure that banks hold enough resources, in particular debt …

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The Greek state’s cash reserves stood at 34.5 billion euros at the end of 2020, according to the Bank of Greece balance sheet released on Monday. The general government’s deposits in the Bank of Greece stood at 24.1 billion euros in December, from 29.1 billion in October, 28.2 billion in …

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Greeks love cash and have billions of euros in deposits abroad. According to a survey report by the Foundation for Economic & Industrial Research (IOBE), 19% of the mobile assets of Greek businesses and households are outside Greece. By the end of 2018, they amounted 57.5 billion euros. With 10.4%, …

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Greece lowers the limit of cash transactions from 500 euro to 300. Purchases with a value above the new limit should be made exclusively through electronic payments. The new limit is thought as a measure to combat tax evasion. This is one of the measures of the draft tax bill …

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After three years and three months, Greece lifted the cap on cash withdrawals on 1. October 2018. It herewith completes the so-called “second pillar” of Capital Controls imposed in the country on end June 2015. The Finance Ministry has issued the relevant decision on Thursday, Sept 27th 2018, the decision …

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Greece’s Finance Ministry has reportedly already prepared a new legislation that will further loosen capital controls and spectacularly raise the monthly cap of cash withdrawals for natural persons.  The new measure will allow bank account holders to withdraw up to 5,000 euros per month. Since 1. March 2018, the withdrawal …

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A mysterious suicide from the upper floor of a hotel in downtown Athens is puzzling the Greek police: the man, a foreign national, had with him a suitcase with four thousand euros. The 42-year-old man walked into a hotel close to Omonoia Square in Athens short before 10 o’ clock …

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The European Commission will give Greece 209 million euros ($245 million) in new emergency aid to help refugees stranded in the country rent homes and pay for basics with a cash card, the Commission said on Thursday. About 62,000 refugees and migrants, mainly Syrians, Afghans and Iraqis headed to northern …

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Panagiotis Lafazanis, energy minister in the first SYRIZA government, claimed he had agreed with Moscow in 2015 that Russia would make a down-payment for a gas pipeline so that the money could be used to finance rexit if the country would decide to leave the euro zone. Lafazanis told Vima …

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Lifting of capital controls is allegedly not expected to take place before at least the end of 2018. The restrictions were imposed end of June 2015, after the European Central Bank drained Greece’s banks and depositors were massively were withdrawing money out of a fear the country could exit the …

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The Bavarian Minister of Finance, Markus Soeder (CSU), a fierce Grexit supporter of Merkel’s  CDU sister party  apparently has moved away from his demand for a Greek euro exit. During a visit to Athens, Soeder said that the problems around Britain’s exit from the EU showed how difficult a Grexit …

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Greece is banning the use of cash the soft way. As of 1.1. 2017, taxpayers will be granted tax-allowance and tax deduction only when they have made payments via credit or debit cards. The new guidelines refer to employees, pensioners, farmers but also unemployed. Accepted expenditure will be: purchases for …

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The long planned registration of all kinds of private wealth will go into effect in February 2017. More than 8,500,000 tax payers registered in Greece will be called to declare all moveable and immovable assets, their total “wealth”, and even cash they possess even if it is below 100 euro. …

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What is the scent of euro banknotes? Old ink? Musty paper? Wooden fiber? Do banknotes absorb the smell of the place where they were stored? Do euro banknotes smell like Mattress mites? Flowerpot soil and baked terracotta? And how does the color affect the scent? Do 500-euro banknotes have the …

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The end of cash money. Or something in this direction.  Although we’ve heard of similar measures in the recent past, this time Greek tax authorities and financial ministry authorities are serious: they will accept only electronic receipts so that taxpayer will build the amount of the expenses needed to enjoy …

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Greece’s tax authorities prepare “raids German style” in the middle of the night in order to localize ‘black money’ and ‘undeclared assets’. The tax inspectors will knock on doors or ring the bells at companies or freelancers’ business addresses even in the middle of the night and conduct controls. The …

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It started with a false claim and soon spread like wild fire. The claim on Friday evening was that a certain Greek bank had limited cash withdrawals from ATMs. The claim ‘coincided” with the fact that it was a pension payday and people had gone to the ATMs to withdraw …

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Touchy IMF left negotiations, Greece’s negotiations team returned to Athens, creditors’ lashed out at the government, the ghost of Grexit set its wings about the debt-ridden country.  Whether the scenarios are true or not, they were reason enough for  Greeks to allegedly rush to the banks and withdraw money from …

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