- EU / CROATIA : Zagreb Now Set To Become EU Member #28...In 2013.
- PHILIPPINES /USA : Stranded US Naval Warship Finally Dismantled.
- COSTA RICA: Currency Intervention Predicted As Colon Surges Vs USD.
- ITALY: 12 Dec UPDATE: Is Silvio's 'Friend'...Key Sex Trial Witness Ruby The Heart Stealer...On The Run? Ruby Finally Surfaces...In Mexico!
- PERU: Sand Fly Bite...Morphs Into Horror Story For American.
- SERBIA / LIBYA : Are Serbian Mercenary Pilots Bombing Protestors In Tripoli?
- BRASIL : Dilma Wins Port Privatization Approval From Congress.
- MUSIC FOR MONDAY: From SWEDEN / AZERBAIJAN : Eurovision Winner Loreen Sings "Euphoria."
- GUATEMALA : Court Throws Out Rios Montt Genocide Conviction; Trial Restart Ordered.
- VENEZUELA :6 March UPDATE: Shooting At Caracas Opposition Rally Wounds Capriles Supporter.
03 November 2011
"Wherever the olive tree grows, you won't find much tax being collected," says a Spanish mayor.
An Austrian economist reports that Italy's shadow economy was 22.3% of GDP; Spain...19.3%; Portugal...19.2% and Greece...25.1%.
In the USA...the shadow economy was 7.2% of GDP.
An Italian official estimates Italy's "phantom" or undeclared income at $320 billion.
Greece may be losing as much as $30bn annually to tax evasion.
Yet only Spain seems to be successful in going after tax cheaters.
Last year...Spain took in more than $13bn from evaders...23% more than in 2009.