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Greece imposes property tax

Greece took desperate measures on Sunday to calm fears that it is on the brink of default - or might even leave the eurozone - by announcing a new property tax to plug budget shortfalls.

business Updated: Sep 12, 2011 21:33 IST

Greece took desperate measures on Sunday to calm fears that it is on the brink of default - or might even leave the eurozone - by announcing a new property tax to plug budget shortfalls.

With the debt-stricken country at serious risk of being denied an €8bn (£6.9bn) rescue loan from the EU and International Monetary Fund, Athens said that it would apply the levy immediately.