Every day sees 730 raids on deposits

This year's expired debts to the state reached up to 4.75 billion euros in the first five months of the year, so the tax administration is resorting to confiscations, auctions and lawsuits. On a daily basis the authorities conduct an average of 730 confiscations of salaries, pensions and bank deposits.

Data from the Independent Authority for Public Revenue show that 91,104 confiscations have been made since the start of the year, of which 24,059 were in May. The aim of the IAPR is to further increase the number of confiscations even though the bailout agreement target has already been met.

The confiscations have come in response to corporations and households being unable to meet their obligations due to overtaxation. Finance Ministry officials estimate that the mountain of expired debts will grow in the next few months as the already troubled economic environment will...