Europe's economic numbers are still a mess | Exploring Markets

Europe's economic numbers are still a mess

The numbers say Europe is a mess.

But it most likely is better than the representation of the numbers.

Some pundits are estimating that a massive part of the European economy has gone off the grid and into the black economy. Meaning that most businesses and transactions are off record and not reported to the government. 

This theory would make sense. Austerity has forced governments to slash jobs and has created a wave of dislike toward all governments in the region. Also the bank deposit tax law in Cyprus hurt confidence in governments.
"Europe has now been in an economic recession for a year and a half, with Eurostat reporting that the 17 EU countries had an average drop of real GDP of 0.6% in 2012. But real GDP in the 5 countries just mentioned fell 2.5%, while in the other 12 it grew by 0.2% during 2012."