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1 informal economy
ECONOMICS travail m au noirThe European Commission estimates 7-16 percent of the European economy is informal, giving a range of approximately EUR500 billion-1.1 trillion ($448.8 billion to $987 billion) that is effectively a cash economy. The smallest informal economies are estimated to be in Scandinavia, Ireland, Austria and the Netherlands, each at around a very honest, and modest, 5 percent of GDP. But that balloons to over 20 percent in Italy and Greece.
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