Italian I.R. ‑ Environments

II‑ Economic Context

•More trade dependent than France, almost exactly as much as UK

•Very large informal economy ‑ Perhaps 20‑30% GDP

–Unreported and untaxed

–Makes data on GDP, labor force, unemployment, etc., unreliable


	Very large informal economy
	Largest in course
	1999 estimated at 27% GDP
	2002 legislation aimed to try to bring more irregular employment in this sector into regular employment

	Unreported and untaxed –
	Tax avoidance principal reason