Greek Boat Builders' Problems Grow with Luxury Tax

Greece's third financial bailout has introduced a series of economic reforms including the extension of an annual luxury tax to all recreational boats over 5m. The tax has also been increased from 10 percent to 13 percent.

At its height eight years ago, George Kranitis' family-owned shipyard in Patra, Greece's third-largest city, employed some 35 people and sold around 340 boats annually - read more

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