The illegal economy that is more than 10% of GDP – The Messenger

The illegal economy that is more than 10% of GDP – The Messenger

 (AGI) – The economy could weigh illegal in Italy for over 10% of GDP in 2005-2008.
It ‘as said the governor of the Bank of Italy, Ignazio Visco, citing estimates of the quantity of money in circulation. The banker during a hearing at the Anti-Mafia Commission, has stated that “a higher density crime drives up the cost of borrowing for businesses and induces a greater demand for collateral by banks with potential negative aspects of investment and growth.” Without crime +16 billion of foreign investment. If the Italian institutions they were qualitatively similar to those in the Euro area, between 2006 and 2012 foreign investment would have been 15% higher (almost 16 billion) than the actual investments during the period. “The crime – said the governor – has a negative effect on investment in general and in particular those directed from abroad.” “Anomalies” in transfers to tax havens. The financ ial flows between Italy and the rest of the world show positions potentially “abnormal,” said Visco, explaining that in particular, the flows in favor of the so-called “tax havens” are about 36% higher than those to the other foreign countries.

 January 14, 2015 16:48 – Last Updated: 16:48

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