26. Hardly even with NO DEBT Greece has an 8.5% deficit.
Very high tax evasion rate.
The income tax is stated income. So you state on income tax form what your income is and then make payments based on that. Can anyone imagine someone making $50,000 a year "might" say they make $40,000 a year or $20,000 a year.
Tax enforcement has been historically lax.
As such the govt has simply made promises is can't afford.
Even if Greece had no debt they would need to either raise revenue 8.5% or cut spending 8.5%.
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