Wealth tax to pay for EU bail-outs

15 Apr

The Germans want rich Brits to pay for lazy Greeks and Spaniards

What could possibly go wrong…

Around 400,000 Britons live or own homes in the south of Spain, which is suffering a deep recession that is hampering Madrid’s attempts to balance the public finances and stave off a bail-out.

Southern eurozone governments have argued that it is right for Germany to pay more because it is wealthier and because its economy has gained so much from the single currency.

But German economists are now challenging that argument. They say that new figures taking into account property values show that people in many southern countries are actually wealthier than their German counterparts.

Telegraph

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