A snap election and the absence of international inspectors apparently led to the collapse of Greece’s tax revenues in January 2015, sounding warning bells for the new radical leftist SYRIZA government at the most inopportune time.

Revenues fell by 23 percent below target, as an increasing number of taxpayers and property owners apparently stopped making payments before the Jan. 25 election.

The numbers couldn’t have come at a worst time for new Greek PM Alexis Tsipras and his government, revealed at the very moment when Athens is trying to secure guaranteed funding and liquidity – outside an expiring bailout scheme — with euzone lenders.

Tax revenues totalled 3.49 billion euros in January, roughly one billion euros below a target of 4.54 billion euros listed in the last tabled budget.

Revenues from an unpopular property tax – known as ENFIA – sank, given that SYRIZA had vilified the tax when it was in the opposition and vowed to eliminate it when in power. Of course, after the election the new government maintained that it would indeed axe the tax, but that previous charges should be paid.