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Old 4th May 2005 | 20:23
  #16 (permalink)  
Cambridge Crash
 
Joined: Oct 2004
Posts: 136
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From: England
Taxing at source

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The Italian Government has a system of skimming cash holdings in banks when the coffers are low (no doubt to pay for another Burlesconi mis-deed). The result is that Banks are about the last place any sane person would keep his/her money; indeed this is why the grey and black economy, especially in Mezzo Giorno (southern Italy) is so large - this leads to a vicious cycle of a loss of tax revenue, etc. This is also illustrative of the emerging economies of Eastern Europe, and especially in BiH.

Nice idea, but it doesn't work!
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