€100bn laundered in Germany every year – report — RT Business

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English: Russia Today logo (Photo credit: Wikipedia)

This is an alarming report published by RT Business. It reports that money laundering in Germany exceeds €100 billion annually, citing a report from the country’s Finance Ministry. This is double the amount initially assumed and goes largely undetected by the authorities.

Source: €100bn laundered in Germany every year – report — RT Business

The implications here are quite far ranging. There’s a touch of double standards here. Germany has been quick with austerity and preaching to Southern Europe about fiscal matters but there are large holes in the Germany economy too.

If Germany was able to tax the €100bn black economy, this would impact the welfare of the whole of Europe.

Thoughts?

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