I want the 13.5% of my life back! (which the shadow economy of Europe is stealing from me)


Based on the IMF data the shadow economy in European Union accounts for anything between 11.9 and 15.1% of its GDP or $14.53T*13.5%=$1.96 T per year!

There is more to that though because it also means that:

  • 13.5% of us plus all those that they are aware of the fact currently tolerate (read agree with) this practice which impacts on our behaviour and inevitably on all our social institutions
  • We as individuals pay at least 13.5% taxation then we should or
  • we work 13.5% more then we should or
  • we take 13.5% less pensions than we should
  • or receive 13.5% less medical care or
  • Taking 13.5% less holidays
  • Have 3% less growth (.135*.22=3%)  in our economies then we should
  • We have to work for more then 23 years in order to repay our countries’ debts
  • ….
  • Or a combination of the above and the most important
  • We are prevented from using a fiscal tool that can stop the European Fiscal Crisis in its track now!

Complaining though without any proposition is of limited value so here it comes:

Introduce the electronic only euro now…

Before you start judging the propositions, for its merit, do consider that it comes with additional benefits like:

  • Elimination of the drug trade (within five years provided we will control gold sales)
  • Elimination of illegal immigration and human trafficking
  • Reduction of street crime by 60%
  • Reduction of burglaries by 90% over 6 years (provided we control illegal goods export)
  • Increase in non European tourist spending by 12% (the amount people spend in addition when plastic cards are involved)
  • A whole new industrial sector that will be created in Europe and a boost in productivity
  • An additional positive argument in favour off the European Fiscal integration
  • Reduction on the environmental impact that illegal trades support
  • Add your own…

Now judge…

SM One of the Gaianomy think-tank founders


One Comment to “I want the 13.5% of my life back! (which the shadow economy of Europe is stealing from me)”

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