The Greek government just slashed its economic growth projections as it lists towards another recession. That will likely mean new austerity measures and steeper taxes in a country already crippled by debt nearly twice the size of its GDP.But even in the midst of a financial crisis, one sector is thriving: the historic Greek shipping industry, whose $84 billion fleet is the largest in the world.That’s due in no small part to substantial tax exemptions enshrined in the Greek Constitution, which means that the industry — and its owners — pay minimal tax, despite Greece’s national debt amounting to some $300 billion.Critics say the country’s ship owners are holding the nation to ransom: tax us more and we’ll leave, taking our jobs and investment with us.VICE News reports from Athens.
This segment originally aired May 15, 2017, on VICE News Tonight on HBO.