The eurozone crisis explained in 5 simple graphs
Governments have collapsed and bailouts have run into the hundreds of billions of euros, and still the eurozone crisis builds. How did we get here?
The 'shadow economy'
The "shadow economy," also known as the "underground economy," is largely untaxed because transactions occur outside the normal channels, which undermines the government's ability to collect revenue. The shadow economy is not just the black market – it can include things like domestic work that employers pay for in cash.