Crisis causes underground economy to flourish in Spain

The crisis has caused Spain’s black market economy to grow significantly over the past few years, according to a study released Wednesday by the union of the technical staff of the Finance Ministry (Gestha). Gestha’s report calculates that the value of under-the-table business in 2012 amounted to 253 billion euros, equivalent to 24.6 percent of GDP – that’s 6.8 percentage points, or 60 billion euros, more than at the start of the crisis in 2008.

http://elpais.com/elpais/2014/01/29/inenglish/1391002867_259023.html