English Blogactiv Posts - EU Blog Platform

By Herman van Rompuy Every year around one trillion euro is lost in EU Member States because of tax evasion and tax avoidance. To give you an idea. One trillion euro is about the same as the entire GDP or total income of Spain, the fifth biggest economy of the European Union. It is about the same as the Union’s budget for the full seven years ahead. And it is one hundred times more than the loan that was recently agreed for Cyprus.

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