Quarter of Italy's economy eludes taxation

Note: This section contains information in English only.
Source: The Wall Street Journal
According to a Bank of Italy official, a quarter of Italian economy evades taxes, due to illegal criminal economic activities, causing increasing borrowing costs and poor investment in the most affected by the crisis regions.  Last month the European Commission pushed Italy under pressure to undertake measures to combat tax evasion problem in the country. 
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Thu, 07 Jun 2012 07:58:26 GMT

France provides more benefits for workers

While European countries responding to the Eurozone's debt crisis are tightening belts, French President F. Hollande has provided more generous retirement benefits and moved lower the retirement age from 62 to 60 years old for some workers. The pension decree might increase tension between Germany and France, which are arguing how to effectively address the crisis. 

Thu, 07 Jun 2012 07:36:26 GMT

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