Finance minister vowed to raise taxes

Greek Finance Minister Yannis Stournaras Athens - Arab Today Greek Finance Minister Yannis Stournaras vowed Sunday to press on with a controversial plan to raise property taxes on large estates, saying "the time has come to make the landlords pay". In exchange for billions in bailout loans, Greece's coalition government has been imposing a series of draconian reforms, including spending cuts and higher tax levies. Discussions with its creditors are to resume this week over a new batch of reforms due to be undertaken -- including the plan to raise property tax on estates worth more than 300,000 euros ($400,000). The proposed levy has sparked a rebellion among coalition lawmakers, including members of Prime Minister Antonis Samaras's New Democracy party. But in an interview with Sunday newspaper To Vima, Stournaras signalled his determination to push through the measure. "The time has come to make the 'landlords' of Ekali pay," Stournaras told the newspaper, in reference to a chic Athens suburb. The finance ministry hopes to obtain 2.6 billion euros from the tax measure, To Vima reported. Source: AFP