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Re: Eurozone will collapse...
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Originally Posted by Osem
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Article about pervasive tax evasion in Greece in the New Yorker magazine
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.But its fiscal woes are also due to a simple fact: tax evasion is the national pastime.
According to a remarkable presentation that a member of Greece’s central bank gave last fall, the gap between what Greek taxpayers owed last year and what they paid was about a third of total tax revenue, roughly the size of the country’s budget deficit. The “shadow economy”—business that’s legal but off the books—is larger in Greece than in almost any other European country, accounting for an estimated 27.5 per cent of its G.D.P
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