Since the financial crisis, Greece has been beefing up its tax collection system: widespread evasion and fraud means its tax yield is way too low. If everybody paid what they should, revenue could rise by about 10 billion euros a year.
Jerome Cahuzac, who once led a French government crackdown on tax evasion, has been found guilty of that same crime. According to a Paris court, his method of evasion surpassed other cases.
Princess Cristina and her husband have arrived at court charged with tax fraud. The trial marks the first time a Spanish royal family member has faced criminal charges since the monarchy was restored in 1975.
Greek authorities are investigating the Swiss pharmaceutical giant Novartis over allegations of bribery and price inflation. One minister has said these could involve 'illegal earnings of over four billion euros.'
Iceland is holding snap polls with the anti-establishment Pirate Party tipped to topple the ruling coalition. Voters are expected to punish the ruling coalition implicated in the Panama Papers global tax evasion scandal.
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